Small businesses succeed with their marketing because they look back at their goals to measure their efforts. There are five basic types of metrics that small business owners embrace to determine if marketing goals are being met.
1. Automation Metrics
- The number of emails being sent – If you’re nurturing your leads with emails, identify how many emails sent becomes too many.
- Trigger interests – Your emails should be appropriately triggered by customer interests and behaviours.
- Just in time – Do your emails tie in with your sales campaigns, if so, are they sent in time or at the most effective time?
2. Engagement Metrics
- Open rates, close rates and click-through rates – Of the subscribers who opened your emails, how many actually clicked through?
- Bounce rates – High bounce rates may indicate that your communication does not meet the interests of your audience
- Website traffic – How many visitors have you had to your website? Where have they gone? How long have they stayed? Understanding these metrics will arm you with the information you need to optimise your content and customer experience.
- Subscribe rates and unsubscribe rates – High subscription rates indicate you are engaging your audience, while unsubscribe rates may indicate the need for better segmentation of your audience and better mapping of your content to their behaviours.
3. Lead Generation Metrics
- Channel effectiveness – blogs and social media at lead generation?
- Scoring and Grading – your leads are a way to appraise your target to become more qualified
- Conversions – tracking conversions allows you to find a way to best optimise your content and channel
4. Sales Funnel Metrics
- Is your marketing generating sales? Gaining insight into how qualified leads are improves close rates.
- What are you costs per lead?
5. ROI Metrics
- Revenue – The ultimate metric. How are sales? Are you making money?
- Return on investment – Does it cost more money to execute your marketing than it takes to generate leads?
- Sales pipeline – Is it filling up with sales approved leads?
At Milkshake-factory, we are on a mission to make your small business marketing hassle free. You will find a lot of articles on our blog that can help you gain insight in the world of digital marketing. We hope these are going to be useful to you and we also look forward to your feedback on what else would you like to learn to help you to grow your small business. Consider hiring Milkshake-factory, complete marketing solutions for all your marketing needs, contact us for a FREE consultation.