73% of executives don’t believe that marketing drives demand and revenue. As a business owner and marketing professional, I sometimes wonder why we do marketing at all if most executives don't believe in marketing. Maybe marketing works and we as marketers are not presenting the results of marketing to prove its return on investment (RoI).
As marketers, we work tirelessly to move the needle on what often seems like a laundry list of metrics. We look at website visits, conversion rates, generated leads per channel, engagement on social media platforms, blog post shares, email click-through rates... and the list goes on and on.
When the time comes to present the impact of your marketing efforts to your boss, you can’t present him or her with everything you measure.
So if 73% of executives don’t believe that marketing drives demand and revenue, we have to make sure that we, as professional marketers, can prove the ROI of our marketing efforts. If the majority of executives think marketing programs lack credibility, it simply doesn’t make sense to bombard them with metrics that don’t indicate bottom-line impact.
When it comes to marketing metrics that matter to your business executives, expect to report on data that deals with the total cost of marketing, salaries, overhead, revenue, and customer acquisitions. You will find that these 6 marketing metrics actually matter to your business.
- Customer Acquisition Cost (CAC)
- Marketing % of Customer Acquisitions Cost
- Ratio of Customer Lifetime Value to CAC (LTV:CAC)
- Time to Payback CAC
- Marketing Originated Customer %
- Marketing Influenced Customer %
Download Vermilion Marketing's eBook on the 6 marketing metrics that prove the value of your marketing efforts. Learn formulas and examples to help you calculate your own metrics.
This eBook has explanations and scenarios of why these metrics are important and how to interpret them.
The purpose of Vermilion Pinstripes is to create Happy Businesses. We do this by building brand confidence using modern marketing and communications that have you sell more without selling.
If you want to learn how to track your marketing success. Contact Us.
Vermilion Pinstripes, sales marketing communications agency | Australia and Singapore
Marketing and Communications offices:
Port Macquarie, New South Wales, Australia: t/ +614 0777 9828
Melbourne, Victoria: t/ +6144 950 1277
Singapore: t/ +65 9681 7045
e/ info@vermilionpinstripes.com
