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Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

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Key Metrics to Measure Marketing Success

Written by Greg Millar on February 27th, 2019.      0 comments

A wise man once said that 50 per cent of marketing spend it wasted

The only problem is that nobody knows which 50 per cent?

iStock-636900410 old man mountain snow guruMost people aim at nothing and they hit it with surprising accuracy.

What we have observed in some of our more successful clients is that they not only aim at something, but they do so with a structure.

Specifically when undertaking marketing activities, they put together a campaign, or a plan, to understand what they are looking to achieve.

In these marketing campaigns, they establish clear goals of the desired outcome of these activities. Campaign goals can include:

  • How many new customers they want to attract
  • How much these new customers will cost to attract
  • How much sales revenue they want to generate from this campaign

Once you put the campaign together, it’s important to get focused on the metrics and measurement of these activities.

Key metrics to measure in your next marketing campaign can include

  • Time to convert a lead into a new customer
  • Cost of acquisition per customer
  • Proportion to the time does a lead turning to a customer
  • Profitability of new customers

Where we can assist here is by helping you to put a system in place to track those key metrics and find out the effectiveness of your marketing campaigns. With this valuable information, you will be able to make better decisions on your marketing and future campaigns.

If this seems sensible to you, let’s talk. We’d be delighted to help you understand how you can determine the key metrics to measure that will lead to improved ways of attracting new customers and growing your business.

Take your business to the next level with help from our experienced team of Chartered Accountants and Business Advisors - Alliotts in Auckland is a NZ Top 30 Accounting Firm and a Xero Platinum Partner. Call us today on 09 520 9200.
 

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