Nigerian entrepreneur and founder of NairaBet, Akin Alabi, via his Twitter handle, advised entrepreneurs and small business owners (SMEs) on ways to track their advertisement on any platform.
According to the businessman, all small business owners should always track every advertisement campaign they run; this is to enable them to know which one is meeting its return on investment goals and maximize it.
“Every advert you put out there, you have to track it to see what is working and which one is not. You can’t be shooting in the dark as an entrepreneur” – Alabi
If you are not tracking the performances of your ads, you are likely wasting money. Stop shooting in the dark. As a small business, every advert you put out must bring you returns. pic.twitter.com/P7T03g2Nsy
— Oloye Akin Alabi (@akinalabi) June 21, 2019
This is important for small business owners because, with a limited budget, it is important to know which advertising method generates profit back to the business, this would help in choosing the best method for the business.
READ ALSO: A look at some financing options for small business owners
On why tracking is necessary, he said it will enable every small business redirect funds from less effective methods of advertising; which invariable help them maximize profit.
He further said entrepreneurs should not be quick to be victims of advert platforms that won’t get them customers or returns.
“A lot of people that are coming to sell you on the idea of come and advertise here, come and advertise there, they won’t want to tell you this because they know that once you find out that their advert medium is not bringing you customers, you will not patronise them again.
“So they just bamboozle you with advertising lessons about just building the mind share, you don’t know what will happen in the future.”
READ ALSO: These are the investment opportunities for you this year
Alabi said to track offline advertising medium, small business owners should devise a means of tracking like having a dedicated phone line or email address for each campaign.
“You need to find a way to know which one is bringing you customers and which one is not. Maybe each advert will have different phone numbers or email address people can contact you with.” – Alabi