Measurement makes marketing a science, rather than guess work. But what metrics should you be using? What does success look like for a modern practice?
Our team will be guiding you through key metrics that your firm needs to be tracking. As well as sharing advice on what good looks like and what to do when you aren’t quite getting the results you want.
4. Customer
acquisition
cost How to use it…
Customer acquisition costs can help you to
understand how new clients break even and
become profitable.
Understanding your target customers
acquisition cost should be key to setting an
effective marketing budget.
Total sales/marketing cost
Total # new clients
5. Customer lifetime value
1 x new client @ £2,500 fees £17.5k
Lifetime value
Assuming 7 year
relationship
6. 4 x £2.5 k
(£70k LTV)
12
72 1440
Ad clicks
Quotes
24
Business discussions
First contacts
Working example
12. goals
Goals are used to
track desired actions
on your website. For
example, subscribing
to your email
newsletter
Goal flow
Shows the path visitors follow
on their way to completing a
goal
conversions
Happen when somebody
completes a goal
Lead generation reporting
Funnel
visualization
This report shows you where
people drop off along the
way.
14. Marketing
ROI How to use it…
Marketing ROI is useful to calculate the
effectiveness of a specific activity or campaign.
It can be useful to calculate it a while after the
campaign has ended.
You shouldn’t use the salaries of marketing
staff, cost of systems or other overheads in this
calculation
(Profit - Marketing investment)
Marketing investment
15. Marketing
expense to
revenue How to use it…
This gives you a “big picture” view of he value of
your marketing efforts.
It’s a good longer term measure and but will
vary dramatically between firms depending on
levels of activity and growth goals.
Total marketing cost
Revenue generated
