Have you found yourself wondering, “Why is it important to measure my marketing metrics?”
If so, my long story short answer is this:
Measuring your marketing metrics
✔️allows you to spend your precious energy effectively!
✔️allows you to do business your way, successfully!
✔️allows you to understand what is driving your revenue!
✔️allows you to build a business that supports your life!
✔️allows you to make adjustments to your marketing campaigns based on facts, and not feelings!
You down for all those things?
Me too, friend!
Now you might be wondering “When should I begin to measure my marketing metrics?”
And I’ll be honest… I don’t have just one straight answer for you.
If you have space to set up analytics and begin measuring your marketing metrics as soon as you begin your business – 1000% do it, start immediately.
But too often I see that many people forget that part and that’s OKAY! So, if you’ve been in business for a while and are already earning income, this is still for you.
For the person that’s looking for a straight answer (I’m the same way), I always tell people to start when you:
- Have space to install your marketing analytics tracking tools properly (or when you have funds to hire someone to install your marketing analytics tracking tools properly)
- Are actively marketing your business and want to know what’s working
- Are ready, willing, and able to iterate and experiment with your marketing efforts.
The sooner that you start measuring your marketing efforts, the better off that you are!
Now that you know WHEN to start measuring your marketing efforts, I bet the next question you have one your mind is “Which marketing metrics are important for my business growth?” (Yeah, like, super specific to youuuuuuu!)
I believe there are 4 different types of metrics that are important to monitor:
- Visibility metrics
- First touch point metrics
- Booking/sales metrics
- Nurture metrics!
Not sure what any of those mean? Let me rap about them for ya!
Visibility Metrics
Visibility metrics relate to the way that you get in front of new humans.
Ask yourself these questions to help determine which visibility metric is the most important for you to start tracking.
- What’s the most effective way that I get in front of new humans right now?
- Do I enjoy this marketing method?
- Would I prefer to try something new?
- In what ways is this marketing method trackable?
- How will I know this marketing method is worth it?
Be sure to think about your time, money, and energy. Yes we want to make decisions based on data, but we’re only human — and our feelings matter too!
Example: Instagram? Blogs? Pinterest? Do people find your website via SEO? Do you prefer in person networking?
Example metrics for each of those methods:
- Instagram – followers
- Blogs – First visits to your website
- Pinterest – Clicks and saves inside the Pinterest app
- SEO – Organic traffic
- In person networking – Contacts collected
First Touch Point Metrics
First touch point metrics relate to the way that you have first contact with your potential clients.
Ask yourself these questions to determine which first touch point metric is the most important to track in your business.
- What’s the main way that people make first contact with me right now?
- Do I enjoy this way of communicating?
- Would I prefer to try a different method?
- In what ways is this method of communication trackable?
- Note: This isn’t always a black and white answer. Think about how you can most cleanly measure this method of communication.
Remember your feelings (and your nervous system) here.
If you don’t enjoy the way that your first touch point is happening, now is an excellent time to think about how you can restructure it and begin measuring the new method to evaluate its effectiveness.
Example: Is this a DM? Is this a services page visit to your website? Phone Calls?
Example metrics for each of those methods:
- DMs – how many new followers engaged in the DMs with you (this may require some manual tracking)
- Service page visits – Page views, or sessions (your preference) to your services page
- Phone Calls – first calls (most often this requires a call tracking software)
The first touch point metric is sometimes it’s a little gray. People might skip right from your visibility metric to your booking metric. To that I say, “What a good problem to have!”
If you are having a hard time nailing down your first touch point metric – don’t fret!
Now it your time to decide – Do I have a first touch point metric? Do I even need to measure one?
I’m team measure only what matters, so if there’s nothing extra that you need to be tracking – don’t.
Booking Metrics
Booking metrics relate to how your potential clients let you know that they want to work with you.
Ask yourself these questions to help determine which booking metrics have the most direct effect on your bottom dollar.
- In what ways do I generate signed contracts and paid invoices?
- Does this method feel good to me?
- Would I like to try another method?
- How is this method of booking clients trackable?
- How will I know that this method is resulting to revenue?
Example: Is this a sales call? A call or text from your Google My Business Profile? A DM, if you don’t take sales calls?
Example metrics for each of those methods:
- Sales calls – number of calls taken
- Calls/Text from Google my business
- DMs – how many conversations you had directly about your services (this may require some manual tracking)
Nurture Metrics
Nurture Metrics relate to how you nurture leads and potential clients that are not quite ready to work with you. They’ve indicated that they have interest in some way – maybe the time just isn’t right, or they need more info, or they just aren’t sure that your solution is the one for them, yet.
Ask yourself these questions to help determine which nurture metric is right for you, and your audience.
- How do you engage and/or communicate with your potential clients right now?
- Is it enjoyable?
- Is it effective?
- Do you believe there is a better way to get them the information they need to move them along your buyer’s journey?
- How is this nurture metric trackable?
- In what ways will you know that this effort is worth your time, money, or energy?
Example: Is this email? Podcast? Youtube? Maybe it’s on social?
Example metrics for each of those methods:
- Email – open rate, click rate
- Podcast – downloads
- Youtube – views
- Social – impressions, reach (these might look alot like your visibility metrics)
Need Help Deciding The 4 Metrics That Matter Most To Your Business?
Remember, your top 4 metrics might look completely different than any of your business besties – and that’s totally okay!
Your measurement strategy will be as unique as the business and life you’re building!
I hope that the questions posed help you to pick the top 4 metrics that drive your business forward so that you can begin tracking them (and taking action based on them)!
But if you’re in need of a little help figuring out what those might look like for you specifically, I’m here to help!
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