Welcome to our special series on setting up your annual marketing plan! We asked Amber McKee, Founder of Ambers Marketing Group and Former Director of Marketing at Goettl Air Conditioning and Plumbing to share her expertise below:
Once your marketing plan is up and running, you're on the journey to making your brand shine and driving leads. But, here is where the rubber meets the road – it’s time to keep a close eye on how well your advertising is performing and decide where to fine-tune your investments. Every month, there are some key performance indicators (KPIs) that should be in your spotlight.
These metrics are like your marketing compass, guiding you toward success:
Cost Per Lead: This is the cost it takes to acquire a single lead. It's essential to ensure that you're spending your budget efficiently.
% of Calls Booked: After you've generated leads, it's all about turning them into paying customers. This percentage tells you how well you're doing in converting interest into business.
Revenue per Lead and ROAS %: These metrics are all about the bottom line. They help you understand not just how many leads you're getting but also how much revenue they're generating in return for your marketing spend.
It's important to note that not all your marketing investments can be directly attributed to specific campaigns. Take radio, TV, and billboards, for instance. They play a crucial role in building brand awareness, making potential customers think of you when they need your services. While these channels might not have a direct conversion rate, they are essential for your overall marketing mix.
Remember, your marketing efforts should complement each other, working in harmony to drive leads and revenue. So, in addition to tracking individual campaign KPIs, it's vital to consider a rollup of all KPIs in total. This holistic view will help you understand the bigger picture of how your marketing strategies are performing together.
In the dynamic world of marketing, staying agile and being ready to optimize your investments based on these KPIs will set you on the path to achieving your goals. So, keep those metrics in your monthly routine, and let the data guide you to even greater success.
