Marketing Metrics

Marketing Metrics – Measuring the success (or failure) of your Marketing efforts

When spending time and money marketing your business, it is important to be able to understand exactly what is working and what is not working. Top line… it’s the bottom line that counts. Use Marketing Metrics to help you better understand.

So, where and how do you start to understand all the data in a meaningful way that ensures that your marketing time and budget is well spent.
We have produced a great document that you can download completely Free of Charge. No obligation, no commitment. All we ask is that you think of us when you next need help, and that you share this webpage to those people you think would benefit.

The guide explains things simply and includes examples of marketing metrics calculations to make life really simple.

Marketing Metrics included are:

  • Customer Acquisition Cost (CAC)
  • Customer Lifetime Value (LTV)
  • CAC (Customer Acquisition Cost) Payback Time
  • Average Lead Close Rate
  • Marketing Originated Customer Percentage
  • Marketing Influenced Customer Percentage

Customer Acquisition Cost (CAC)

The Customer Acquisition Cost (CAC) is the average amount that you spend to acquire a new customer. This is important because the more you have to pay for a new customer, the lower your margins. As a marketing agency, we want to help you achieve a lower CAC in order to  provide a higher return on investment.

Customer Lifetime Value (LTV)

In this metric we want to compare the lifetime value (LTV) of each customer to their cost to acquire that customer. Why does Lifetime Value matter? Many businesses fail to realise the actual amount of revenue a single customer generates for their business. Instead of only focusing only on a single sale, use the complete value of that customer over the lifetime of their engagement
with you.

CAC (Customer Acquisition Cost) Payback Time

You truly care about two things – revenue being brought in and how much it costs them to generate that revenue. The CAC payback time looks at how long it will take to payback the investment made to acquire a new customer. While it depends on the industry that you are in, in general the ideal Cost to Acquire a Customer Payback Time is under 12 months. High performing businesses may see payback time as low as 5-7 months. The sooner the payback, the sooner your clients are profitable with each customer.

Average Lead Close rate

It’s not good enough to just generate tons and tons of leads. A lead that never converts into a customer is essentially worthless. You want to show how qualified your leads are with this metric. The lead close rate will be highly dependent on the industry that you are in, but it can also show symptoms of internal issues within your organisation or within your marketing efforts.

Marketing Originated Customer Percentage

Here you’re really starting to see the value of everything that you’re doing. This metric directly ties your marketing efforts to your bottom line. Your Marketing Originated Customer percentage is a measure of how many new customers that you have generated  that you would not have had without that marketing. It’s a much more concrete evaluation of your efforts than just number of leads and customers.

Marketing Influenced Customer Percentage

The previous metric was all about new customers that originated because of your marketing efforts. This metric is all about the number of customers that are closed after interacting with your marketing. Leads can come from anywhere: marketing, word-of-mouth, referrals, Google, networking, etc. Whether you generated that lead with your marketing efforts or not, you need to understand how many customers interacted with your marketing efforts in order to understand how effective they are.

GET YOUR FREE DOWNLOAD HERE:

6-bottom-line-marketing-metrics-your-clients-care-about

British Water Workshop – At Google.

Today saw M3 Strategic Marketing taking over rooms at Google in St Giles, London.
When British Water asked us to deliver a workshop all about Google to their members, what better place to hold it than at Google’s London H.Q. in St Giles. Being a Google Partner means that Google support us from day to day, which in turn means we can deliver that expertise direct to our clients, in this case British Water.

British Water Google Micro Moments
Google presenting “Micro Moments”

A full day of training on Synergistic Marketing, which pulls offline and online together, was delivered by Derek Bourne of Waterbourne Ltd, Michael Spence and Tracy Spence. In addition, Google delivered a presentation all about “Micro Moments”and played the “Higher or Lower” game with the audience too.
The room was bursting at the seams and British Water had a reserve list of people waiting in the wings, and no one cancelled at the last minute.
The workshop itself was jam packed with useful insights, suggestions of tools to help the companies in attendance, hints, tips and the questions flowed.
British Water Workshop at Google
Michael Spence – Moments of Truth

Unfortunately, the day itself was marred with the terrorist attack on Westminster that same afternoon, just a mile down the road, but it did not stop the learning.
British Water have asked us to deliver the same again but near Manchester, and we will also be delivering a series of smaller, more detailed workshops targeted at different levels of knowledge a little later in the year.

Thank you for an excellent training workshop on Digital Marketing yesterday. I think most attendees were overwhelmed with your knowledge and it is clear that we could have delivered a full day or two day training course!
Lila Thompson – International Director, British Water

When Tracy from M3 Strategic Marketing heard about the NatWest Boost programme, she wanted to find out more, and after lengthy discussions with her local business development manager, Tracy started work on preparing a schedule of education for business seminars all about Digital marketing.

NatWest BoostEducation For Business Seminars:

  • Understanding Analytics
  • Web Conversion Techniques
  • Search Engine Optimisation
  • Paid Online Advertising
  • Email Marketing

After delivering the Analytics course in both Northampton and Milton Keynes and then the Conversion course in Milton Keynes, the feedback or these instructional and educational seminars was so good that NatWest asked if once the 5 were done, they could start all over again, to give those who missed it first time around, the opportunity to attend, and to encourage more business owners and employees to take advantage of this free Digital marketing training.
If you are looking to increase your knowledge on Digital marketing and other subjects, then contact your local NatWest Business Development manager and ask how the NatWest Boost programme can help you  grow your business.
Dates for Early 2017 as follows: 

  • Wednesday 22nd February 2017 – Nat West in Grange Park – 8am Start – “Website Conversion”
  • Tuesday 28th February 2017 – Nat West in Milton Keynes – 8am Start – “SEO – get found on Google”
  • Wednesday 22nd February 2017 – Nat West in Grange Park – 8am Start – “SEO – get found on Google”

 

Do you have Unwanted Website Traffic?

All sites are regularly attacked by hackers , spambots, spammers….
Using Google Analytics we can break down visitors to IP, Location, City  and we often find unwanted visitors from various parts of the world. The greatest numbers of attacks we are seeing currently are coming from Russia, China and India (not exclusively).

So what’s the impact?

Spammers create unwanted comments on your blogs, you can try blocking IP’s to prevent the same person spamming , but often harden spammers create new IP’s to prevent blocking.
Hackers will add x-scripting code, try logins, DDos attacks and more. They check for vulnerabilities and will try until they find a weakness to gain entry to your website.
A Spambot  is an automated computer program designed to assist in the sending of spam. Spambots usually create fake accounts and send spam using them, although in many cases it would be obvious that a Spambot is sending it. This has led to the development of password-cracking Spambots that are able to send spam using other people’s accounts. They  affect bounce rates and damages SEO results.

Can I stop them?

In short no. Not without locking your site down so tightly that you limit your audience to only people you know.

What can I do to limit these attacks?

One answer we have found is to block traffic from a whole Country. If we have no plans to deal with companies in Russia or China in fact we only want to promote ourselves in English speaking Countries and Europe. So if  we block all traffic from all other Countries it will reduce the potential of unwanted traffic and therefore lessen the risk and damage of a hack, and dramatically improve your bounce rate and automatically improve your search rankings results.

How can I achieve this?

M3 Strategic Marketing offer a solution that will not only help prevent unwanted attacks from specified Countries, but will ensure your bounce rate is reduced, meaning Google will see your website as being more relevant and will no doubt show the site for search more, thus helping your SEO Positioning too. The Wordfence Premium plugin enables you to block visits by Country, and is something we can download, configure and implement on your behalf based on your specific needs.
If you need help understanding your Google Analytics, or would like to discuss adding Wordfence premium to your WordPress website, please contact us.

Client website visitor numbers revealed

Many companies are happy to blow their own trumpets by showcasing testimonials, and writing case studies. But at M3SM we decided that we would put ourselves to a real test and see exactly what our average statistics produce.
We were both  surprised and delighted at the results.
Ripped paper, space for copyWe took all the companies we work with to increase sales using SEO, and some of those companies also use Google Paid advertising and email marketing too. We removed those who we could not do a full and direct comparison with, and then looked at the statistics, warts and all for all July 1st 2015 to June 30th 2016 as compared with July 1st 2014 to June 30th 2015.
This left just over 40 companies who have been with us since at least 2014.
We did not remove any figures, we did not “embellish” or  “enhance” any of the figures that came directly from Google Analytics. This report is based on real and honest fact, as delivered by Google Analytics, and we are more than happy to share this with you.
Here are the FACTS revealed: 
1 – Increase in visitor sessions.Ripped paper, space for copy
On average, clients working with M3SM see an increase in visitor sessions of 319.10%
Question: If your website saw a 319% increase in traffic, would it be of value to you? 
Perhaps you run an e-commerce website, in which case, seeing that kind of increase may increase the number of sales your website takes.
Let’s put this into numbers. Let’s say your website receives 10,000 visitor sessions a year (192 a week or 27 a day). An increase of 319% would mean you now receive 31,900 visitor sessions a year (613  week or 87 a day).
2 – Increase in conversion rate.
On average, clients working with M3SM see an increase in website conversion of 29.60%
Again let’s put this into numbers. Let’s say your website conversion rate is 1%. At 10,000 visitor sessions a year, this means that 100 people a year will convert into sales leads or orders (whatever your conversion goal may be). An increase of 29% would mean that your conversion rate is now 1.29%, meaning that those 10,000 visitor sessions turn into 129 conversions a year.
The combination of 1 and 2 combined.
So, if you have increased the number of visitors to your website AND increased the conversion rate (i.e. to number of customers who buy from your online shop, or the number of phone calls or emails into the office asking for more details) then the benefits are obvious. but lets look ate the figures again:
10,000 visitor sessions at an increase in traffic of 319% means 31,900 visitor sessions.
100 conversions at an increase in conversion rate of 29% means 129 conversions.
Put the two together and an increase of visitor sessions to 31,900 with an increase in conversion rate of 29% would see 411 conversions.
So a combination of website visitor sessions increasing, and conversion rate optimisation would mean an increase in converting sales leads or orders of 411%

Many thanks to Derek Bourne, The British Water SME Group and Atkins for allowing M3SM the opportunity to speak about Web Presence Optimisation at yesterdays British Water SME group meeting.
The presentation can be seen at http://www.youtube.com/watch?v=97IyiVK1TEM
The presentation itself created much dialogue as the topic of Social Media and how it offers an ROI is still one that is not yet fully understood as far as B2B marketing strategies are concerned. However working alongside partner companies such as Google and Raven , combined with our in-house Analytics team, M3 Strategic Marketing are confident that we can offer Web Presence Optimisation strategies that can not only deliver Goal based results but also can provide the data to prove an ROI on any companies Digital Marketing Strategies.
Some of the companies we have worked with include
Islamic Relief Organisation
BBS Granite
Life IT
KBVO
Basilico Pizza
Neil and Barker Jewellery
Bite Consulting
Dubai Silicon Oasis
and many more
The offer is still available to those companies that attended to receive a free Digital Marketing assessment by contacting either Michael or Tracy on 01604 328899 or info@m3sm.co.uk
The following Companies were in attendance at this event
Environmental Treatment Concepts Ltd.
William Johnston & Company Ltd
Syrinix Limited
CSO Technik Ltd
Partech Instruments
Tynemarch Systems Engineering Ltd
Viking Johnson
Warden BioMedia
Chelsea
WPL
HPC Products
Portasilo
Utilities Valves Limited
Goodwin International Ltd
Conder Products
BHR Group
UKTI Strategic Trade Group