Know The Marketing Metrics for Your Business Banner

Your business’ lifeblood is its customers. In order to gain enough customers to keep your business growing, you need to attract people’s attention; this requires a solid marketing campaign.

However, we regularly see marketers making the mistake of thinking that a “good” marketing campaign means flooding various channels with clever advertisements. In truth, though, good marketing begins when you look before you leap into any action.

In other words, you need to use marketing metrics to guide your marketing campaign’s direction. Here is why how you use — or ignore — marketing metrics can make or break your business:

Why are Marketing Metrics so Important?

Know The Marketing Metrics for Your BusinessWhile marketing is an invaluable tool for customer acquisition, it is also an investment.

Every dollar that you invest into marketing is an expense. If you invest unwisely, then you will waste many of your resources — or even lose ground with consumers.

Without marketing metrics, every marketing effort that you made would effectively be a shot in the dark that could succeed or fail.

For example, if you try engaging a group of people via Facebook, but they spend most of their social media time on LinkedIn, then you won’t see very strong results. In this case, you can use marketing metrics to identify which channels your target audience uses most often.

Metrics help you continue doing what works and cut back on what hasn’t been so successful.

What Marketing Metrics Matter the Most for my Campaign?

Cost Per Lead (CPL)

Although your marketing campaign will sometimes create sales directly, this is not its purpose.

Marketing exists to create interest in your company or product so that you have an opportunity to close the sale. This is also known as lead generation.

The Marketing Metrics - Cost Per Lead

Optimizing your marketing investment means minimizing the average cost for each lead generated.

The Formula for CPL is Simple:

Total Marketing Spend / Leads Generated = CPL

Remember you don’t want your marketing campaign to be costing you more money than you make.

Percentage of Customers that Started as Marketing Leads

Percentage of Customers Started as LeadsThis shows how often your new customers start out as marketing leads.

To figure this out, simply divide the total number of new customers acquired in a given time span by the number of customer generated via marketing. This is important because marketing should play an important part of your business’ growth.

Customer Lifetime Value (LTV)

You don’t want a customer to stop by once.

You want them to invest in all of the accessories they need; when their product has expired or been updated. You want them to come back to your company for more high ticketed products.

Customer Lifetime Value Formula

How much a person spends over a period of time defines their LTV.

In addition to generating new leads, your marketing campaign should be nurturing current customers as leads. If your lead nurturing endeavors are successful, then your average LTV should be high.

If it isn’t, then you know that you need to make adjustments in your lead nurturing endeavors.

Take Away the BlindfoldDon’t Approach Marketing with a Blindfold on…

You cannot achieve marketing success without knowing what road your campaign is headed down. With the right metrics, you will have all of the information you need to keep your campaign on track and show your marketing return on investment.

Looking for more Marketing Training?

Do You Want to Learn $$$ as You Learn?

GET INSTANT ACCESS to Easy Online Social Media Marketing Training for Facebook, Instagram, LinkedIn, Pinterest, YouTube and with coaching!

PLUS have access to ‘One Click’ integration for Leads Ready to Buy… Make Money while You are Learning how to do target marketing eg on Social Media and then scaling up conversions.

These G500 online training courses are for people that are beginners or intermediate Social Media Marketers. These courses could also be a great offer for your customers if it suits your businesses adjectives.
Become an Affiliate Today!
Check it OutFor a LIMITED Time…. We are offering FREE one on one coaching with your choice of Social Media training module from G500 Training…
You can get 100% of your outlay for ALL the training coursese back with ONE referral….

Plus see how to make $1,000 within 24 hours with a simple Done-For-You Business System. Get the Paid First Affiliate Program Here!

Your-Dream-Business-Automated-Done-for-you-450-sqIf you want or need any help connect with us on one of our social media platforms or on our contact us form!

Talk Soon,

Nicky and Dave

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *