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?
While 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.
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
This 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.
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.
Don’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.
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https://i0.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2018/08/Know-The-Marketing-Metrics-for-Your-Business-Banner.jpg?fit=600%2C200&ssl=1200600Nicky and Davehttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngNicky and Dave2018-08-20 21:10:122018-08-26 17:44:57Know The Marketing Metrics – They Will Either Make You or Break You
Deciding where to invest your marketing dollars isn’t a decision you take lightly.
You know you need to attract new customers and keep your existing clients coming back, but you can’t afford to invest time or resources into something that isn’t going to deliver the results you expect.
An email marketing campaign is a cost-effective solution that gives you the power to reach customers in a place most people visit every day — their inbox.
With email marketing, you can strengthen brand recognition with new and potential clients, and extend your reach when people forward or share your message with a friend.
“The emails are an important reinforcement of brand. I get calls from people I’ve never met all the time. They get the newsletter. Maybe it was forwarded to them by a family member or friend of theirs, and they know I’m the person to call. It really helps establish credibility upfront before saying a word.”
– Dave Cane, Easy Online Biz Solutions
6. Boost Sales
When you have an audience of people who opt in to receiving updates from your business, you’ll be able to think differently about how you boost sales throughout the year.
This has been especially valuable for a business like ours, which communicates with local residents and prople from alround the world.
It has definitely been the easiest way to reach people.
Another benefit of email marketing is that it gives you the metrics you need to see how your campaign emails are performing. These insights help you market smarter, and also give you the advantage of better understanding the needs and interests of your customer base.
We can tell people are interacting with our content and click through to our website.
8. Get Started Quickly
With email marketing software like AWeber (what we us for 98% of our Email Marketing), you’ll have the tools and training you need to get started quickly.
Regardless of your level of marketing experience or expertise. When you do get stuck, we have a team of people who are dedicated to your success. Just pick up the phone and give them a call.
9. Reach People on ANY Device
With nearly two-thirds of all emails being opened on a mobile device, email marketing is one of the best tools you can use to take advantage of the growing popularity of mobile technology.
We are almost positive that all of those people were on their phones, not in a traditional office.
10. Get More from Doing Less
One of the benefits of using an email marketing provider is that you have access to professionally-designed email templates.
These templates are designed to make it quick and easy to get your message out to your audience, and ensure you look professional when it lands in the inbox.
11. Look Professional
Email templates aren’t just easy to use; they’re also designed to make sure you look professional when you reach your audience member’s inbox. You can insert your own content and customize each email template with your logo and colors to make sure it matches your brand.
12. Increase Website Traffic
Whether you’re an e-commerce business that sells products online, or a retail store that wants to increase traffic to your website so that you can bring more people into your store — email marketing campaigns can help.
Email definitely works. We see people clicking through to our website and we have people calling or facebook messaging to telling us that they saw our newsletter.
14. Market with a Personal Touch
Unlike other marketing channels that often limit your ability to customize your message for the different audiences you communicate with, email marketing gives you the ability to organize your audience into lists and communicate with people based on interest, purchase behavior, location, and more.
15. Generate Leads
Not everyone who joins your email list will be ready to make a purchase or sign up for a service. Email gives you the opportunity to capture new visitor’s attention and nurture the relationship with helpful and informative content.
We know as a small business, it’s not always easy to stand out in a crowded market. Email marketing allows you to build an audience that is interested in hearing from you, without having to pay for other advertising channels.
19. Stay Organized
Reaching out to clients on an individual basis can be a costly and time-consuming process. Email helps you save time by reaching out to your wider audience, while still delivering a message that’s personal and relevant to them.
Just schedule your emails at the beginning of the week and you’re done.
22. Increase your Value
When you adopt a communication strategy that fits your audience’s needs, you’ll have more people paying attention to your message and get a higher return overall.
23. Attract New Clients
In addition to connecting with the people on your email list, you can also share your newsletters and announcements on your own social media networks to bring new people to your business.
24. Improve Visibility
As much as you’d like to think customers know about all of the different products and services you have to offer, there’s a good chance that many of them don’t.
Taking a more pro-active approach to your marketing could prove to be exactly what you need to improve exposure to the services you offer.
25. Save Time
Once you learn the basics, you’ll be able to put together a plan to get your emails out to your audience of subscribers in less time.
The biggest benefit of email marketing is efficiency. You might think it take a lot longer to create an email than it actually does! But we have a ready made template so it’s easy to pull together an email quickly.
Start Your Success Story…
If you’re already using email marketing and have seen great results, we’d love to hear your story in the comments below!
If you’re not using email marketing, and are interested in seeing how it could benefit your small business, you can try it for free.
https://i0.wp.com/easyonlinebizsolutions.com/wp-content/uploads/2018/08/Reasons-to-Use-Email-Marketing.jpg?fit=600%2C200&ssl=1200600findnetshttps://easyonlinebizsolutions.com/wp-content/uploads/2017/09/EzyOnlineBizSolutions-logo-shadow-500-156-300x94.pngfindnets2018-08-04 09:38:432018-08-05 13:16:3025 Benefits of USING Email Marketing in Small Businesses
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