The 8 marketing measures to keep an eye on 2020 (and how to measure them)

The 8 marketing measures to keep an eye on 2020 (and how to measure them)

Hi Marketer, today, we are talking about important measures!

Clarifions: Monitoring a company’s measures is essential to manage and consolidate a marketing strategy worthy of such.

Think about it for a moment, how can you develop something if you don’t know your starting point, if you are unable to measure a certain key factor in your business?

This is step 1, in fact, now that we familiarize ourselves with this concept, we must understand exactly what metric we have to keep an eye and how it has an impact in your business.

In this article, we will try to answer the question: what are the most important measures to measure (and improve) in a company?

In a full time and Strapn with data, you should be very careful by looking at the right direction, ready?

Let’s start!

1.

We start from the basics, generating potential customers for your business is one of the most important activities of all and you should not underestimate it. It is a question of bringing a new life block to your business by attracting people potentially enclosed to buy your product or service.

You cannot live without customers and you cannot survive without a Strategy in the generation of leads Continue and target.

Try to focus on the measurement of your total prospects in a limited period, such as the prospects of a specific month, calculate the cost and also try to understand which channel the merit of bringing more a. You will quickly understand which channel to remove your attention (and your budget).

But how is the cost of lead cost? The formula is very simple:

€ expenses in the generation of leads / n.

For follow -up, do not think that Excel is always the best choice, when things become more complex is wise count on a CRM (Customer relations management tool), come ad eesmpio HubSpot o Salesforce.

2. Qualified plans

Now that you have understood the importance of following the tracks, it’s time to set up a level and take into account «Qualified tracks».

Qualified prospects are users who have expressed a greater degree of attraction towards your business, who are particularly targets compared to what you sell or who are simply more ready to buy «now» than others

You can calculate the percentage of qualified prospects on the total of your prospects with a simple formula:

(Qualified leads / Total leads) x 100 =% qualified lead

This will help you understand in an even more detailed way the effectiveness of your funnel strategy, in particular, you will be able to understand which campaign brings the largest amount of qualified tracks to your business.

3. Return to marketing investment (Romi)

As you suggest the name, Romi does not differ much from the most swollen kingBut focuses more on marketing and investment costs: in particular Romi metric measures the benefits of a clear marketing campaign of its overall expenses.

You can also calculate the Romi of your campaigns using this formula:

Romi = (Marketing billing – Production costs – Marketing expenses) / Marketing expenses) * 100.

If the Romi is less than 100%, your marketing campaigns generate a loss for the company, if the Romi exceeds 100%, it is a clear indicator that your campaigns are in profit.

Unfortunately, it is not always possible to calculate Romi and its result does not always represent an extremely detailed photograph of reality.

My advice is, keep an eye on it, but don’t think it’s the holy grail of the measurements.

4. References

By reference, I mean that Metric who measures the number of people who have carried out a «conversion» action through word of mouth.

Today, companies tend not to measure this metric, although they are extremely important to the digital age in which we live.

Word of mouth can be measured in different ways, for local offline stores, for example, we could use loyalty cards or reduction coupons and understand how many people buy thanks to these specific initiatives.

Online, on the other hand, we are able to build real formal systems that self -albine themselves, for example giants such as Uber and Airbnb have also grown up thanks to word of mouth strategies, we think of the classic call that invites users – generally after purchase or recording – to share a purchase with friends, giving them the possibility of repeating the annexed advantages (discounts – Possibilities are annexed advantages (reductions – various), the possibilities are all time and additional emissions (various reductions), the possibilities, the possibilities are all advantages!

For the monitoring of a sham system, you can use the classic Excel sheet or count on third part -part tools just to create and monitor this type of campaigns, such as upviral.

Here too, we have an interesting formula, to calculate the percentage of «references» that you can use:

Total customers / number of customers acquired by word of mouth =% references

The reference acts not only on the lower part of the funnel by bringing sales, but also helps put your brand in front of new eyes …

Guess what is the following point called? : P

5.

The dear old man brand renowned.

Essentially, this metric measures «how much» consumers are experiencing a certain brand.

This metric does not enjoy a good reputation, sometimes cataloged as «unsuitable» or too vague, it is no coincidence that it is really difficult to understand and measure «how many people have heard of you» as a brand. Its usefulness begins to go out if it is placed in a context of competition analysis.

Let’s see how to measure it effectively.

To withdraw concrete data, marketing specialists can monitor the number of times their brand is mentioned on social networks, websites and blogs. This analysis is possible thanks to tools like Mention, hootsuite e buzzsumo.

To obtain a meter of comparison and acquire information, I recommend that you measure the mentions of your brand and compare it with that of your competitors.

Although these tools cannot send you the certainty that some users know your brand, they always manage to give you specific indications on what is mentioned online.

6. Notice

Testimonies and criticisms are known as «word of mouth marketing», even if I (or rather Mr. Cialdini) prefers apostrophes simply as «social proof».

Each company must focus on social evidence obtained thanks to the satisfaction of its customers, its effect is extremely powerful and sometimes it can mark the difference between the purchase and abandonment of a site.

The tool comes Renowned, Trustpilot e Reviews, They can help you collect opinions and analyze their feeling (who tells you that they are positive ?: P).

My advice is to use the best criticisms in the texts of your acquisition advertisements and at the sight of the home page of your site.

For negative criticism Instead, I advise you to seriously take the complaints of those who have been your customer, to see him as an opportunity to improve, if you can even try to contact the user personally by asking for information, apologizing and offering a discount / bonus for the next purchase.

Each opinion is gold, knowing how to exploit it correctly means collecting it.

7. Cost for customer acquisition (CAC)

I love this metric. Simple, right to point and important suuuuper.

Simply, how much euros costs you to acquire a new customer. This is one of these measures which, with Romi, can really help you understand the effectiveness of your marketing actions and at the same time the intrinsic nature of your business.

You can calculate your cost by acquisition with this formula:

€ spent in marketing / number of new customers = cost by acquisition of the customer

Just as I told you for Romi, do not look at this metric with the Bonchi, if for example your investment is mainly on SEO, the CAC will be barely satisfactory, especially in the short term.

Bonus: customer life value (CLV)

He Customer’s life value He shows you the total value of a customer, understood as all € who spend your business throughout his relationship with him.

In other words, this shows how much profit brings you a customer in your pocket, not intended for a single purchase, but like all of all purchases during their lifetime as a customer.

The CLV also manages to make you understand how many customers your business needs to break even with expenses and start making profits.

There are good news: the increase in clv of your customers is generally much easier to acquire new ones, so I recommend pampering your current customers so that they increase their value over time.

In fact, a current error is to search for new spasmodically customers when we do not only make those we need more attention than anyone.

You can calculate the CLV with this formula:

Win from the customer in one year x number of years in which there remains a customer – total acquisition costs and work costs for the customer = life value of the customer

… We arrived at the conclusion, which metric you found more interesting?

Let me know in the comments!

In addition, if you have not already done so, I advise you to take paper and pen (or a fantastic Excel sheet) and to calculate this data for your business, you can discover several interesting things.

See!