The Marketing Metrics That Matter to the Bottom Line

As we change the focus and goals of our marketing team, set the benchmarks that really matter to our business and get the highest ROI, with the problems we encountered in the beginning.

CMOS and CEOs who want to drive business growth should start by evaluating marketing against the criteria that are the most important issue for the company. Start with that.

Pipeline

It sounds obvious, but you would be surprised at how many marketers are wrong. In fact, many make mistakes on purpose – to improve their numbers.

If you are going through a transformation in your marketing team, take the time to sit down with your sales team and try to find out what clues really exist about them and why.

Yes, your pipeline will inevitably decrease when you make this change. But if you have an honest conversation with your company’s leadership about how this new description will help you engage the right potential customers and generate more ROI, they will understand the recession and take action with your long-term approach to the pipeline.

Allocation

Marketers also need to have a good understanding of which touchpoints work for their business.

You need to know what the main indicators – good and bad – are offered by your potential customers. Based on these signals, it is necessary to act accordingly.

Of course, there may be campaigns that you need to run from a brand perspective, regardless of price. But you need to have a clear picture of the initiatives that will generate the most money for your organization.

This does not mean that you should not try new marketing tactics, but that these tactics should be informed and guided by past successes and digital body language indicators.

Customer revenue and life value

These two criteria are different, but they are so intertwined that marketers should not think of one without the other. Customer Life Value is the net profit you can expect when acquiring a new customer, a number that increases each time you decrease sales.

To maximize ROI, read the digital body language of your existing customers to find out which one may fall the most or which is open to additional sales.

When adjusting your marketing metrics, you need to find a way to measure retention and sales. You may need to gather statistics to show your executive team the value of retaining customers and why you should market not only potential customers but existing customers as well.

General Involvement

Smartphones and the “always-on” culture have changed things for marketers in several ways. It’s easier than ever to be under pressure, but it’s also more difficult to engage viewers. CNBC reported that the ads took just 5 to 6 seconds to keep the millennium generation involved. One way to counteract diminished attention is to personalize your content on a personal level. McKinsey found that “the adjustment can generate 5 to 8 times the ROI of marketing spend and increase sales by 10% or more”. It is a measure that we can all support.

Whether through personalized email campaigns, recommendations, or relevant product solutions, or chatbots, companies should focus on treating customers in a personalized way. And that approach will only become more important as Generation Y and Generation Z members join employees and make more purchasing decisions.

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Obviously, all of these metrics help marketers not only look like the people who make things look good but also those who add tangible value to their organization, which makes marketers indispensable to any business.