Marketing KPI's. I created this short video to help you get more from your marketing campaigns.
Behind every action there is a goal that we want to achieve. In marketing, our goal is driving our prospects to buy from us instead of our customers and even importantly doing that at a profit. Goals are not enough. We must be able to track and measure progress, especially in our marketing campaigns.
At Mcintyre Agency, we can help you get clear on the increments that lead to success for your marketing campaigns! Get rid of the guesswork and free yourself from the nonsense and get to the simple truths that govern marketing profitability for your business. Here are some key things you need to look at when creating your marketing kpi's
The Lifetime Value of a Customer
It's a complete non-sense to establish a business without a understanding the value of a customer. Our clients pay the bills. Every purchase they make affects our sales and revenue. However, sometimes, we forget the lifetime value of our customers. Aside from improving or producing products and services, one of our primary goals should include different ways how we can keep them and patronize our products.
First, we need to get in front of our target prospects. Second, we need to make them want our products or services. And third, make sure that we make a profit on what we sell or provide them. To scale we need to know two things. How much does it currently cost to close a new client and how much in lifetime net profit to we earn on average from each new client.
Ways to Define Our Marketing KPI'S
A goal without a plan leads nowhere. Here are some tips to avoid costly errors:
How much does it cost to bring in one quality lead?
What is the average cost to bring in one new customer?
Define the steps a user takes during the sales cycle and create ways to optimize each step.
Target the types of clients who repeatedly purchase our products.
Use lifetime value to measure what we can spend to generate each new client.
Create bids that win in the marketplace and remain profitable.
Provide promos that our clients can't resist to increase the lifetime value of each client.
Evaluate and re-evaluate our service to make sure we have a winning offer.