On this episode of marketing minutes, we have Kevin, our Co-Founder on to teach us how to track your marketing ROI and make smarter business decisions.
In this lesson, Kevin uncovers the 3 steps you need to do to properly track your marketing efforts so that you know where you should be investing your money!
Watch the lesson below to learn more and get an exclusive look into one of our marketing dashboards!
In this lesson, you’ll learn how to track your marketing efforts with these 3 simple steps:
1. Tracking the Right Metrics
- The first thing you need to do is to make sure you are tracking the right information. There are 5 data points across all of the different channels you are investing in that you must track properly:
- Click Traffic
- Media Spend
2. Make Smart Calculations
- Next, you need to take your data and create calculations to get the insights that you need. You will need to make these calculations with the goal to invest your money in sources that have a low Customer Acquisition Cost (CAC) or Cost Over Revenue Ratio (CORR).
3. Visually Represent Your Data
- The best way to track all of your data is to have it in a format where it can be easily visually assessed. Google Sheets or Excel are two systems that let you extract the raw data, and after that, you can move your data into a platform like Google Data Studios, where you can do your own unique calculations. Within this marketing dashboard, you can then assess the following and make the best decisions for your business with zero friction:
- Total revenue by month
- Revenue by Lead Source
- Total leads
- Performance per Division
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