When it comes to a brand’s online presence - it’s made up of three factors: a website, potential (and repeat) customers and search engines. Along with a solid online presence - accurate, measurable analytics and data can depict a markets inbound successes and failures.
The challenge for inbound markers is not; not being able to measure marketing metrics - it’s knowingwhich marketing metrics to pay attention to.
Here’s a list of the marketing metrics that CEOs should be measuring:
Website Visitors: The growth and sales opportunities that each website visitor provides is of utmost importance. As important as SEO is (alongside increased site views and website visitor increase per month), pay attention to the source of website visitors: where they come from.
- Organic searches.
- Social media.
- Email Marketing.
- Paid advertising.
- Direct searches.
Leads: The sole purpose of a website in an inbound world is to generate leads. By analysing the total amount of website leads (both month-to-month and year-to-year) will generate data that’s comparable and measurable.
Sales Qualified Leads: Marketers need to pay full-attention to the quality of leads they’re generating. Focus on top funnel marketing tactics that’ll nurture the lead and push them down the funnel (to become a qualified lead). With data readily available, marketers should maintain a SQL conversion rate between 10-20%.
Customers: Qualified SQLs that cannot be turned into customers = a sales problem. Paying attention to the ‘customer metric’ will allow marketers to evaluate and interpret any hiccups along the conversion process - and, assist in the understanding of costings related to acquiring customers.
Cost of Customer Acquisition (CoCA): A ‘Cost of Customer Acquisition’ is a test for profitability - to ensure that marketers remain competitive and profitable. A piece of advice would be to use the CoCA metric to better understand the cost spent acquiring a customer.
Sales: Everything that CEOs do is driven by revenue - therefore, sales metrics is key. This metric will gauge total monthly revenue, monitoring whether or not there’s an increase in sales.
Depending on the CEO, the sales metric can be divided into these two categories.
- New customer sales—marketing, etc.
- Increase in current customer sales—i.e up-selling, more repeat business, retention, etc.
ROI: Lastly - pay attention to your marketing return on investment (to gauge marketing implementations). This number-centric metric ensures that money spent on marketing, is made back. If you’ve noticed a neutral return, you’re actually losing money.
As a result - don’t disregard your inbound marketing metrics: pick the ones that are most relevant to you (such as the ones outlined above) and apply accordingly.