Marketing Metrics: How Do You Measure Your Success?

Marketing Metrics: How Do You Measure Your Success?

You have been spending valuable time and precious dollars to market your business and help it grow. But are your growing SMART? When your efforts are spread out across multiple channels and campaigns, or your vendors are pushing you to spend more money, you need to be asking for results. How can you prove which efforts are working? Obviously, this is where marketing metrics come in handy. 

Unfortunately, I have yet to find software that can compile and organize the data from all the various marketing platforms to see how they stack up against goals. So instead, I’ve spent countless hours creating a robust spreadsheet that brings in all the micro details of your marketing efforts and generates a macro-view of how your marketing is performing. This report saves busy business owners the time of digging into the tiny details and gives them the big picture of their marketing return on investment (ROI). 

Taking in this big picture allows you to see what is misfiring, what needs adjustment, and where we need to allocate or reallocate funds. Undoubtedly, the report is incredibly helpful when you have multiple vendors for various projects. The overview compares the results vendors are getting enabling you to monitor if they are meeting goals or missing deadlines. I encourage you to not just set it and forget it; instead, set goals for your vendors, ask for results, set new benchmarks with deadlines, and keep monitoring the progress. Don’t be afraid to hold your vendors accountable to goals and smart marketing metrics. 

My Favorite Marketing Metrics to Measure

  • Google Analytics: There are many things to look at in Google Analytics. The possibilities are endless, but these are some of the things I recommend looking at first.
    • What are the top 10 most visited pages on your site?
    • Where are your visitors coming from geographically?
    • What pages are visitors landing on first?
    • Compare new visitors vs. repeat visitors. 
    • How are your visitors arriving at your site? Which websites, social media accounts, campaigns, or search engines are pushing the most traffic to your site? 
  • Media Buys: Traditional marketing can be challenging to measure its effectiveness, but that doesn’t mean there is no way to measure it. 
    • What are your customers saying? Do they mention the ad?
    • Are there any correlations between the campaign dates, media buy locations, your Google Analytics, or social media growth?
  • Social Ad Campaigns: Social media analytics can provide many details about how your campaigns are performing. Here are some important ones to look at. 
    • How many clicks are your ads getting? 
    • What is the number of impressions and frequency?
    • Is your account growing? How many new followers do you have?
    • What is your engagement – i.e., how many likes, comments, shares, forwards?
  • Digital Ad Campaigns: 
    • What are your reach and audience performance? 
    • How many clicks are your ads getting? 
    • What is the number of impressions and frequency?
    • Are there increased metrics to your website or social accounts that the ad is promoting?
  • Email Trends: Your email service will provide a platform with data about your emails, lists, and their performances. 
    • What is the growth of your email list?
    • Take a look at how many people are opening your emails. What is your email open rate?
    • How many people are clicking on links in your emails? What is your click-thru rate?
    • Are you sending the right messages to the right people?
  • Promo Codes & Sales: Promo codes and coupons create a sense of urgency for the customer, making a purchase decision sooner or during a specific period. Did you see an increase in sales during this time frame? 
    • How many promo codes were redeemed? 
    • What were your sales during the time of the promo code or coupon?
  • Revenue: The most obvious metric to measure marketing effectiveness would seem to be revenue. But revenue has so many reasons that it could increase or decrease outside of your control. So the key is to find metrics to prove the increase in revenue directly. 
    • What are your total sales during the campaign period?

In all, the key to measuring the effectiveness of your marketing efforts is to be able to answer the question, “is this tactic helping me reach my goal most effectively and affordably?” Marketing metrics will tell you if your tactics are the right ones or not based on whether you are reaching your goals or not. It will also tell you if it is the most effective and affordable way, the meaning is your money being spent WELL. 

As always, if you need help digging in and dissecting your marketing metrics, schedule an Engage60 consultation with me. 

Engage60 is a heavily packed 60-minute active engagement where we can dig right into a project you’re working on. My consulting time is a rapid-fire eruption of ideas inspired by what you think you need against what is required to deliver you results. We dig into your business, who you are serving, and how you want to grow. My brain is on fire at this point, adding up various marketing ideas that could help you reach your goals. 

I promise that you will leave this session with a list of ideas, resources, action steps, and more! It’s a great way to experience how I work and to see if I’m a good fit for your business. 

about jenny poff

Meet Jenny Poff

Jenny an independent consultant who specializes in marketing, branding, and graphic design. She partners with business owners and nonprofits as their out-of-house marketing manager to relieve their time and stress of DIY marketing by amplifying their advertising with expert strategies for unparalleled results

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