A Few Key Marketing Metrics You Must Absolutely Know
One thing that I really dislike about my business is the fact that anyone can call themselves a marketing expert and start selling crap services.
The result is that unsuspecting clients (that just want to sell more decks) pay these idiots and never see any returns. By returns I mean sales or sales leads – not followers, likes or shares. These things don’t pay the bills.
In my opinion, it is one of the biggest challenges business owners face since Internet marketing came into existence.
So how do you choose a good marketing services provider? And after you do, how do you know if he, she or it is doing a good job for you?
The answer lies in a few key metrics to which you must pay close attention. Without knowing what is working and what isn’t you can’t make good decisions. Make sense?
OK. So what do you need to know?
Website traffic – number of visitors your site gets in a month
Total number of leads – number of leads your site generates per month
Website conversion rate – percentage of visitors that become leads
Total number of sales – number of new deck sales coming in through your site
Sales conversion rate – percentage of leads that become sales
Now of course, each of the above needs to be tracked for different sources of traffic and different marketing tactics.
And, more importantly each traffic source or marketing tactic must be assessed on one basis – Return on Investment. Nothing else matters.
Granted some things are really cool and we buy them because they make us look good or they’re new. That is totally fine. Just be aware that MOST decisions need to be made on ROI.
Calculate how much you spend in each area of marketing and calulate whether or not it is working for you on the simple basis of money out versus profits in.
That is the only way you’ll ever know if what you’re doing is working or if you’re just throwing your money out the window.