Do you know what the most important metric for a company?
This question may seem obvious, but when it comes to marketing, many companies still believe that we refer only to “make smoke” to promote the business, without knowing what the return brought the actions.
But with the vanity metrics that are not related to the generation of business opportunities, we know that there are many indicators that actually can show if your marketing strategies are contributing or not to the results of your company.
But after all, what are these metrics? Next, we’ll talk some of them and how you can follow them to check the progress of your business.
The number of visitors is the amount of people that come to your site, regardless of how often these people accessed the address.
This is an important metric to be monitored, as it directly reflects the audience that the site or company blog has.
This is a number that is expected to grow every month, because if a website keeps stable the number of visitors, this may indicate that it is not attracting new audience, or that people who access the site are always the same.
Leads are those visitors to your website or blog that is interested in your content or its enough value proposition to offer contact in exchange for something – be signing a newsletter , a downloadable material, contact a consultant, a test application etc.
This is one of the key metrics of Digital Marketing, as just indicates how many people you can actually start a relationship for the future, try a sale. If many people are providing their contact for your company, this is a good starting point.
However, we must not only look at the absolute number of Leads, but the percentage of the fact that visitors are converted into Leads, which is what we call conversion rate (expressed as a percentage).
That’s because it’s no use a traffic source bring many visitors if they do not become Leads, because it indicates that there is something wrong with your strategy: either you are attracting the wrong visitors – who does not have much to do with your company – or content that you offer is not interesting enough for your audience to leave the contact you start a relationship.
So if the number of visitors grows and the conversion rate on the site remains the same, it is expected that the number of Leads accompany growth.
Opportunities are those Leads that, after passing through qualifying, they can actually be considered a business opportunity for the company. Generally, the Lead reaches that stage when has also demonstrated its interest in the solution offered by the company, not just for their content.
It is a very important number because these are Leads that have turned opportunities that will be addressed directly to the sale. And, as they are more mature than those Leads that just started a relationship with you, the sales opportunity should be larger.
But, just as with Leads, we should not only look at the absolute number of opportunities generated, but the Leads percentage that actually reaches this stage.
If the generation of Leads is large, but the generation of opportunities, not, this may indicate that after the visitor become Lead, it is not nourished with enough content to become a business opportunity – or even the Leads generated not they are very skilled.
This is, after all, the most important metric for your business. After all, are the sales that keeps the company alive. The conversion rate for sales opportunities is the percentage of opportunities that are effectively transformed into customers.
If this rate is too low, it’s time to assess what is wrong: does the approach of the salesmen is appropriate? You are offering the product to the right people? As you drop the objections regarding their solution? All this must be taken into consideration in the search for improvements.
In addition to the metrics listed above, others are also important, such as:
It is important to identify which channels ( email marketing , organic search, social media , paid media etc.) are more efficient in generating Leads.
So you can also find out which are performing well and should receive more investment, and which are not performing as well and should get more attention for possible improvements.
The CPL allows us to know the value of each Lead generated by dividing the amount invested with the Digital Marketing Work (R $) by the number of generated Leads, coming from the different sources of traffic.
According to Inbound Marketing involving blog, SEO and social media lead for companies with a Cost Per Lead 3 times smaller than the Leads generated by the more traditional techniques.
In addition, about 82% of the respondents said they did not know was how much that value in their business.
Therefore, measuring and comparing this value can be a great trump card for Digital Marketing gain more credibility (and investment) within the company.
And then? Ready to assess your marketing metrics and make the necessary improvements to boost your business? Then download our spreadsheet Metrics Tracking Marketing and discover how to follow them!