How To Measure What Matters
Once a marketing plan is dreamed up and implemented, how can you prove that it is truly working? Why should you, a marketer care?
Did you know that 73% of executives don't believe marketers are focused enough on results to drive incremental, measurable demand?
Since there are so many elements in measuring a marketing strategy it is easy to lose focus on what really determines the ROI of marketing campaigns.
Our guide will help you to target six crucial marketing metrics that actually matter!
With our "6 Metrics Your Boss Actually Cares About Guide", you'll find:
- The ultimate 6 marketing metrics that prove the value of your marketing efforts
- Formulas and examples to help you calculate your own metrics
- Explanations and scenarios of why these metrics are important and how to interpret them
Go ahead and download this cheat sheet today to impress your boss on the true value of your marketing efforts by learning the right marketing metrics to focus on. This guide, developed from our marketing metrics consulting practice, will show you how to measure and improve your marketing efforts so that your CEO understands exactly how much incremental demand your marketing efforts actually drive to the bottom line. With the right metrics, marketers can demonstrate their business value with every new lead and sale that comes in.
What are the Key Marketing Metrics?
Measuring the success of marketing campaigns is crucial for any business, but with so many performance marketing metrics to choose from, it can be easy to get lost in the data. That's why it's essential to focus on the six key marketing metrics that really matter to your boss. These metrics include:
- Customer Acquisition Cost
- Marketing % of Customer Acquisition Cost
- Marketing Originated Customer %
- Marketing Influenced Customer %
- Ratio of Customer Lifetime Value (LTV:CAC)
- Time to Payback CAC
Customer acquisition cost helps you assess how much it costs to acquire a new customer, while customer lifetime value looks at the total value of a customer over their entire time with your business. Marketing % of customer acquisition cost looks at the percentage of CAC that comes from marketing spend, while marketing originated customer % and marketing influenced customer % help you understand how effective your campaigns are in generating leads. The ratio of customer to lifetime value (LTV:CAC) reveals the return on investment of your campaign, and time to payback CAC allows you to understand how long it takes for customers to pay back their CAC. By understanding these metrics, you can determine whether your customer acquisition strategy is successful and adjust accordingly. With the right data and insights, you can optimize your campaigns to maximize profits and grow your business.
Improve Your Digital Marketing Performance
As a marketing manager, it's vital to measure and improve your marketing performance using the six key metrics that matter most to your boss. These metrics include customer acquisition cost, marketing % of customer acquisition cost, marketing originated customer %, marketing influenced customer %, ratio of customer lifetime value (LTV:CAC), and time to payback CAC. By understanding and utilizing these metrics, you can optimize your campaigns to maximize profits and grow your business. And with the Hubspot Marketing and Sales ROI Calculator, you can easily calculate your own metrics and see how the Hubspot Growth Platform can help you improve your performance marketing outcomes. With the right data and insights, you can prove the value of your marketing efforts and drive incremental, measurable demand to the bottom line.
Other Important Metrics
Although social media marketing metrics are important in measuring the success of a marketing campaign, they are actually sub-sets of the top 6 marketing metrics that your boss actually cares about. These metrics include customer acquisition cost, marketing % of customer acquisition cost, marketing originated customer %, marketing influenced customer %, ratio of customer lifetime value (LTV:CAC), and time to payback CAC. While social media metrics such as engagement rate, click-through rate, and conversion rate are important, they fall under marketing originated customer % and marketing influenced customer %. By focusing on the top 6 marketing metrics, you can prove the value of your marketing efforts and drive incremental, measurable demand to the bottom line, which is what your boss truly cares about. So, while it's essential to track social media metrics, it's equally important to keep your focus on the larger picture and the key metrics that matter most to your boss.
6 Tips For Interpreting Marketing Metrics
While digital marketing is inherently measurable, there is still a major challenge when it comes to agreeing on the meaning of a metric and how to interpret it. Despite the abundance of internet marketing metrics available, getting everyone on the same page is crucial. This is where the importance of the six key marketing metrics that your boss actually cares about comes into play. To interpret these metrics effectively, it's essential to understand customer acquisition cost, marketing % of customer acquisition cost, marketing originated customer %, marketing influenced customer %, ratio of customer lifetime value (LTV:CAC), and time to payback CAC. For instance, interpreting marketing % of customer acquisition cost means assessing the percentage of CAC that comes from marketing spend, while the ratio of customer lifetime value (LTV:CAC) reveals the return on investment of your campaign. By understanding how to interpret these metrics, you can prove the value of your marketing efforts and drive measurable demand to the bottom line, ultimately impressing your boss.
Event Marketing Markets
Event marketing metrics are a subset of the six key marketing metrics that your boss actually cares about. While customer acquisition cost, marketing % of customer acquisition cost, marketing originated customer %, marketing influenced customer %, ratio of customer lifetime value (LTV:CAC), and time to payback CAC are all crucial for measuring the success of marketing campaigns, event marketing metrics are specifically tailored to assess the impact of events on your business. These metrics include event attendance, lead generation, lead quality, and revenue generated from events. By tracking these metrics, you can determine whether your events are driving measurable demand to the bottom line and adjust your strategy accordingly. While event marketing metrics are important, it's essential to keep your focus on the larger picture and the relevant marketing metrics that matter most to your boss, proving the overall value of your marketing efforts.