IMPROVING YOUR BUSINESS WITH THESE 8 VITAL MARKETING INDICATORS
You can almost use any combination of social media, content marketing, email marketing, and search engine optimisation (SEO) to give your company an edge over the competition online.
But the fact is that you can’t tell whether any of these marketing strategies are working unless you’re keeping tabs on the right KPIs. Then, and only then, can you make educated judgements, implement best practises, and collaborate with your team to maximise outcomes while minimising time and resources wasted in the process.
Quantity of Replies
Examining the level of interest shown in your content is a great indicator of the success of your marketing efforts.
You can learn a lot about the efficacy of your approach from the number of people that interact with your posts on social media, but that may not be the ideal metric to use when planning future tactics. In other words, the number of comments on your posts is the marketing statistic that most reliably indicates genuine interest from your followers.
Get your followers to sound off in the comments!
To persuade people to engage with your material, one of the easiest things you can do is just ask them to. You’ve undoubtedly witnessed this tactic in action countless times, and its continued usage is a testament to its efficacy.
Simply encouraging your followers to write about their experiences is a terrific method to increase this crucial marketing measure. You may also do what UltraLinx did and encourage your followers to utilise a certain term in the comments area. As a simple experiment, they requested that viewers include the term “Setup” in their responses.
Use Tools That Facilitate Social Sharing
Make it simple for your audience to share your material on social media if you want to see an increase in your content is shared.
Make sure every one of your channels has a share button. Below is an excellent illustration of this technique from the Damsel in Dior blog.
ClickToTweet and other similar programmes may be used to quickly and simply convert your written material into bite-sized pieces that can be tweeted directly from your website.
Price to Acquire a New Customer
You could be making every effort to monitor and enhance the performance of your social media material. But what if you didn’t know how much it cost to gain a new customer using these methods?
Knowing the price of acquiring a customer does more than compare the efficacy of various marketing strategies. What’s more, it reflects the success of your digital marketing efforts as a whole. In addition, it may assist you in determining which strategies are productive for your company’s brand and which lead to wasteful spending.
Improve your aiming skills.
Increasing precision in your audience targeting is the single most effective way to lower CAC. In essence, this strategy succeeds because different stages of the sales funnel require different marketing approaches.
Bottom-of-the-funnel messaging won’t resonate with someone who is only beginning to recognise a pain point. On the contrary, people will be looking for material aimed at raising awareness, such as guides or tutorials.
Aim to provide content that is optimised for search intent to reduce CAC and enhance lead capture. Use appropriate keywords and hashtags to extend your reach. At the end of the day, it’s best to put money into both long-form and snackable material. That way, your audience will have a say in what they consume (and will likely enjoy either option).
Check out Teachable as a model of effective targeting in action. This company’s Instagram account provides content for all customers.
Make It Easier To Generate Leads
Optimising your website for lead generation is another way to cut down on the money spent on acquiring new customers.
The large number of touches required to get from awareness to conversion may be reached with very little investment in paid advertising if the process is simplified.
You might begin by evaluating the depth of information requested on your lead generation forms. Customers are willing to part their personal data if it means receiving a superior service. However, it remains true that the more information you want, the more resistant your audience will be to providing it.
It’s best practise to limit requests to the absolute necessities. Take a look at the no-nonsense, three-field form and CTA button used by Mrs. Property Solutions to assist property sellers.
Typical Purchase Price
Making as much money as possible (while spending as little as feasible) is the objective of any firm. While adding new clients might help boost revenue, it isn’t the most efficient strategy.
Increasing the AOV is a good place to start. By monitoring and improving this crucial marketing indicator, business leaders may concentrate on maximising the return on investment (ROI) per marketing activity, whether by getting customers to spend more or by helping them see the value in more expensive products.
The quickest technique to raise average order value (AOV) without requiring any changes to the website’s backend is to create product bundles.
Brands may encourage consumers to spend more on a higher quality experience, while also providing discounts and increasing AOV, by packaging related items together in convenient bundles.
Ugmonk excels at this by providing prominent placement for its kits and other packages on its online and social media stores. By doing so, it increases the likelihood that customers will buy the more costly item by providing discounts and bonuses.