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

Google SEO

Recently, Google released a new video all about SEO and how to hire an SEO expert near you! What is interesting is the number of SEO companies who are now actively sharing this video exclaiming that all along they have been Optimising websites using Google Best Practices and with you as a customer in mind.
Well, we totally agree and are also going to share this “How to Hire an SEO” video with you.

What is also interesting are the number of “SEO” companies who are not happy to share this, and we think this is very telling.
As a business ourselves, we want value for money and to work with companies who understand our business and want to help us grow and grow with us. We want  to work with companies who are transparent, honest and talk with us.
Why would our clients be any different? 
As Google says, SEO is not just about rankings and getting clicks on a website, if that were the case, my job would be easy. I could just sit here clicking away. But, SEO is all about the user experience from the starting point of their specific customer journey, to their onsite experience and ultimately the sale and even after sale service.
We work with all our clients to understand their business and their potential clients, to identify who wants what information at different times of their experience with our clients website, and to make that journey as simple as possible.
We are not about clicks, but we are about converting your website visitors into loyal customers, giving you lifetime value from each sale we achieve as a team.
Please do watch the video and contact us if you have any questions at all or simply request your FREE SEO web audit by clicking here >>

Google Adwords Partner Expert

As a Google AdWords Partner we are exposed to a lot of training and Paid Advertising Intelligence that other agencies are not privy to, and this helps us help our clients grow their businesses. So when the Giant in online advertising Google suggests a meeting at your premises, we didn’t say no. However, never to miss an opportunity, we arranged to meet at their offices in St Giles, London. This meeting was to discuss specifically about our own business, and to determine what else Google needed to provide us to help us grow.
Specifically in the meeting we discussed Gmail Advertising on Google, as both ourselves and Google see this is a great way forward for many of our clients. It is currently not common and so the costs are also a lot less than perhaps other forms of paid advertising on the Google networks. In addition we discussed the importance of having a strategy for each client to determine the very best route, the ideal landing page, and the best keywords too.
With any paid adverts, you need to consider what pert of the customer journey your prospect is on, what they want from your website when they land on it and what tactics you need to employ to convert that click into a sale going forward.
For example, if someone is searching the query “How easy is it to get a business loan” they will be less likely to convert into a sale than someone who is searching “Business loan for van”. With this in mind, the landing pages should be very different and the strategies should also be different. The “How to” query should take you to a landing page that gives you ideas as to what documents you may need (a checklist perhaps). Because people who land here are likely to go away and find these documents, then we would also recommend a re-marketing strategy from this page. Whereas, those who are being more specific, they already know what they want, and so a quote form or calculator would be more appropriate. Here if they complete the form, you already have the information to enable you to make contact and perhaps close the deal, and a different re-marketing strategy should be implemented for those who did not complete the form (abandoned the process).
If you are looking at your online paid advertising and are serious about getting results, then look to M3 Strategic Marketing to help you devise a Google AdWords Strategy before you take the plunge. Using M3 will save you money n wasted clicks and get the most from your Google AdWords Spend.
Contact us now on 01604 328899

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”

 

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%

SEM Rush Blog – 3 steps to website conversion

Having been approached by SEM Rush (digital marketing blog ranked #10 in the world) to become a blog contributor, I was delighted to take them up on the offer/opportunity.
To be approached by someone as well thought of as SEM Rush was indeed a bit of an honour, and also a surprise.
The task was daunting, they have a strict set of rules that a contributor has to adhere to, and the standard 300-400 words for a blog piece was too small for them. So, I planned what I was to write about and then embarked on what turned out to be almost a thesis on the subject of website conversion.

What is website conversion?

Website visitors often browse your site, and a few of them then become paying customers. The paying customers have converted into sales. Hence conversion. A website conversion does not need to be a sale, it can be any kind of goal you set as a business. Maybe a lead, a download or a telephone call.

Why do website conversions matter?

Clearly, the more conversions you get, the better your online business will develop.
How do I convert more? 
There are a few tricks of the trade that are shown in far more detail on the SEM Rush Blog I wrote here: http://goo.gl/OXrPDQ
Basically, if you increase conversion, you may not need to continue to direct more traffic to your website to increase the number of goals. It’s a mathematical equation that works.
Therefore, if you are paying for clicks on your website (for example) and increase your conversion rate, your cost per sale (or lead, or download, or telephone call) is reduced.

Getting a better website conversion rate is a money saver!

Check out the blog I wrote for SEM Rush here: http://goo.gl/OXrPDQ
 

  • Have you ever wondered how you can increase your Lead Generation for your business?
  • Do you find Networking a chore?
  • Perhaps Networking simply is not your target market?

Using online Lead Generation techniques can drive quality, relevant, converting traffic to your website.
Working with qualified Digital Marketing experts, such as ourselves, can really start to grow your online business. It is important you choose a company who are willing to learn and understand your business, who will work with you to determine your goals and make sure they are achieved, someone who will challenge your thoughts and ideas to make sure you get the very best return on your marketing spend.
Typically, a Digital Marketing company will take you through a process that ensures you get good quality, relevant, converting traffic to your website. They will use strategies that include SEO, Social Media, Email Marketing, web apps…
Making sure you get the traffic is very important, but what if that traffic simply does not convert? We take this process a step further with Conversion techniques, measurement and strategy.
Our Lifecycle is something we feel all businesses should be following.
Give us a call now for your free web asset consultation – 01604 328899

You may have heard of Digital Marketing, email marketing or even SEO, but few companies have considered or heard of Conversion Architecture, which means that if you are reading this, you are already one step ahead.
When you create a website and publish it to the web, your site will sit among millions of other website just waiting to be found. It’s a little like putting a piece of paper with the message “Contact Us” onto a tree in the middle of Epping Forest, and waiting for the phone to ring. 0Most people would think that would be a waste of money, time and effort, yet millions do it.
Conversion Architecture CycleThose who realise that they need sign posts to the piece of paper, or indeed those who realise that in fact they need that piece of paper to be right by the entrance to the Forest will have a handle on their Digital Marketing and will have engaged an SEO and/or Pay per Click specialist agency.
But those who have also realised that “Contact Us” may not be the best words to use on the piece of paper, or indeed that the piece of paper needs to be in orange as opposed to white, and the writing needs to be in capitals, they are the companies who will turn that traffic coming onto their website into leads and paying customers These companies will convert.
Conversion Architecture is based on science and fact, but is also down to interpretation based on extensive knowledge of online user behaviour and also creative marketing flair. The cycle repeats itself as the business goals become more refined:
SCIENCE AND FACT:
Tools that offer URL tracking and Click Intention Tracking can tell us where your prospects are clicking, what words they used to find the page, what Search Engine found your page etc. This give us the facts that we can then use in our scientific formulas. The formulas are based around many years of gathering these facts based on industry sector and online user behaviour analysis.
ONLINE USER BEHAVIOUR:
Over many years we have been gathering statistics about what works and what does not. Online user behaviour has distinct elements to it that are not always what you would expect. Having worked with many companies around the globe including Fortune 100?s, working with user focus groups, researching videos of people actions whilst completing online tasks, we know the differences between different personas and their online experience expectations.
CREATIVE MARKETING FLAIR:
Once we have Science and understand the company we work with and their web visitor personas, then comes the creativity for testing. Testing is key to any Conversion Architecture, and once again leads us back to the Science and Fact to ensure your marketing budget gets the very best return.
If you would like a free consultation and an Intention Tracking Trial, let us know by Contacting Us on 01604 328899

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

Michael Spence was asked by British Water to present “Web Presence Optimisation” at the forthcoming British Water SME Group event in London on the 22nd of February 2013.
Michael is a fully certified Internet Marketing Consultant, however his past 27 years work experience and qualifications in the Industrial Automation Industry and 5 years specifically dedication to the water industry makes him the ideal person to speak at this educational event hosted by the British Water SME group
Whilst there, Michael will connect with each British Water SME Group member offering them advice and guidance on their web presence optimisation strategies.
These strategies could include:

  • Search Engine Optimisation
  • Content Planning
  • Content Marketing
  • Social Media Engagement
  • Paid Advertising
  • Goal Determined Web Presence Analytics
  • Conversion Architecture
  • Online Reputation Management

A full strategic plan can sometimes take up valuable company resource, which is why companies often outsource one or two things on their list. After all, it is important to focus on your business, and leave the complexities of things like Digital Marketing to experts like M3 Strategic Marekting Ltd.
01604 328899
info@m3sm.co.uk