Measuring the right marketing metrics in your campaigns is absolutely imperative for knowing how you’re doing, how you can improve, and what you can change. It can also help you to know exactly where your budget is going, and make the most of your various budgets.
There are lots of metrics that you can track in order to figure out more about your digital marketing campaigns and the people who are responding to them. However, some of them are more important than others.
This doesn’t mean that other metrics aren’t important. You could just be putting a focus on the wrong ones! Only 6 of the metrics outlined are ones your boss actually cares about! Are you tracking the following 6 metrics properly?
This metric, put simply, is how much your company spends on average to gain a new customer. This can be very useful information to have, so measuring it is crucial to your success and utilizing your budget.
This refers to the marketing percentage of your CAC. By using a simple calculation as shown by us, you can know exactly how much of your marketing efforts is going towards acquiring new customers.
This metric is super important. An estimate of what you make from each customer, compared to how much you spend to acquire them. If you want to speed up your total company growth, knowing this metric is crucial.
This determines how long it takes your company to earn back the CAC that was spent acquiring new customers. The goal is usually to make the money back in under a year. How long is it taking you? If you don’t know, this metric is a must. Use our calculation to figure it out as accurately as possible.
This metric determines which portion of your customers directly came from your marketing efforts.
This is the percentage of customers that interacted with marketing while they were a lead. Gives a bigger picture view of the impact that marketing can have on your sales. Is your marketing campaign up to scratch?
Knowing how to track these metrics accurately, and making the most of the knowledge you glean from them, is crucial to your business. There are so many things you can keep track of, so it’s easy to lose sight of the most important things. In fact, some metrics are tracked purely for vanity reasons. Although you shouldn’t start neglecting other metrics, you should put a focus on the metrics in the download. These are the metrics that truly matter. You’ll then be able to make a better case for your budgets and strategies. Find out more?
If you’d like some assistance measuring the right metrics in your marketing campaigns, make sure you download our document ‘The 6 Marketing Metrics Your Boss Actually Cares About.’
You can also get in touch with us by clicking on the panel below to get a free inbound marketing assessment from us. One hour of your time and you’ll be improving your marketing campaigns!
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