Facebook likes, page visits, clicks and shares. Open rates, bounce rates and conversion rates. There are so many digital marketing metrics that your head starts spinning.
What if I told you that none of them matter?
Most marketing agencies use vanity metrics as an easy way to show progress. They report Facebook page views and Twitter interactions as the measurement of success.
The only metric you should focus on is ROI.
Marketing’s first and only priority should be growing the business. Every marketing dollar spent should ultimately bring in revenue.
Or as Tom Cruise so nicely put it in Jerry Maguire…
If your campaigns don’t have a clear and positive ROI, it’s time to stop wasting money.
Measuring true ROI is difficult for three reasons. First of all, most marketers don’t have the skill or tools needed to tie the metrics together.
Secondly, marketers are afraid of low numbers. Focusing on the revenue-per-social-post makes traditional Facebook metrics look great in comparison.
Finally, the technology most marketers use doesn’t provide actionable insights. Web analytics and sales numbers are easy to find. But it’s a technological challenge to attribute this data to the buyer’s journey and revenue.
The best marketers are laser-focused on real results. They choose the ultimate marketing KPI, such as sales or leads, and align all the other metrics to reach it.
Before any marketing project ask yourself – is this going to bring a measurable ROI and grow the business? If the answer is no, trash it.
I’ve started an agency called The F Company to help companies move from useless metrics to real results.
Automate helps ambitious companies grow their revenues online. We use a combination of the latest digital technology and innovative methods to grow your business.
We only work with a few clients at a time, and only when there is a clear way to significantly grow your sales.
78% of CEO’s think marketers don’t focus on ROI. At The F Company that’s the only thing we focus on.