Last Sunday was such foul, wet drear of a day that I decided to spend a few hours sorting out my wardrobe. We don’t have enough wardrobe space in our house (who does!?) so every six months I take all the lovely, light summery things out of my wardrobe and pack them in storage boxes, to make room for the winter garb.
It’s a fairly lengthy process as I’ve inevitably changed my mind about certain bits and pieces. And, all that folding and hanging is quite boring. So, to keep my brain busy, I tuned into an Audible book while I worked.
I’m currently listening to ‘Finish: Give Yourself the Gift of Done’ by Jon Acuff (side note: I just noticed that I still have 6 minutes of the book left to go, so, ironically, I haven’t yet managed to ‘finish’ the actual book).
This book gets into the nitty-gritty about how perfectionism works to stop you finishing projects, for fear of them not being perfect enough, and methods for halting that perfectionism in its tracks and for getting the thing done.
Chapter 7 really made me think. It is about ‘data’ and how it’s vital to help you monitor yourself. To be honest, Jon was preaching to the choir.
We Marketing Architects are strong advocates of a test, measure, refine model of marketing. And, whenever we work with a new client, one crucial task is to set up a marketing dashboard to keep track of the key performance indicators that we have set for the marketing activities that we are putting in place (if you want to see a sample Marketing Dashboard, request one by emailing firstname.lastname@example.org and we’ll send it right over).
But, even though we know the dashboard helps us, I wasn’t entirely sure why. Jon made it clear for me: the reason we need data is because it doesn’t lie. Emotions are fickle, they will pull the wool over our eyes and give us a biased interpretation of our history, and the successes or failures in any given area.
I know this to be true because I’ve recently updated my Garmin ‘Fitbit’ to an actual ‘Fitbit’. The app functionality is waaaaay more advanced and it will track the days on which I’ve done more than 30 minutes of ‘active fitness’. Before I had this watch, I could have kidded myself that I’d been exercising every day, when actually on one of the days I might have only done a quick ten minutes in the pool. Now I can see the days when I’ve done more than 30 minutes marked a calendar, this keeps me honest and motivates me.
In business terms, you can misremember all types of experiences. And, it can put you on the backfoot.
For example – if you don’t track how many prospects you actually chatted to at a recent trade show, you might misremember it as a brilliant success and rebook for next year. When you actively note down the number of conversations you had, and, crucially, how many of those conversations converted into paying customers over the following months, you have some genuine evidence to work with.
With that in mind, I’ve created a checklist of 34 easy measurements you could record in your business to make sure that you are staying on track with whatever projects you are currently focused on. Clearly, you don’t need to track ALL 34 of these measurements – you’d have no time for anything else. Just pick the ones that are most appropriate to you, and are going to provide the most accurate ‘key performance indicators’, just as we do for our clients. Where it’s not obvious what the statistic reveals, I’ve written it in brackets.
- Year to date revenue.
- Year to date profit.
- Number of active clients.
- Number of lapsed clients. (How happy your clients are with your service)
- Website visitors to home page. (Brand awareness)
- Website visitors to key pages such as: contact us, or services. (Brand engagement)
- Website bounce rate. (The number of people who didn’t find what they were looking for on your site)
- Website number of ‘new’ visitors. (Brand awareness)
- Website number of pages viewed. (Brand engagement)
- Contact us forms received.
- Phone enquiries received.
- Discovery calls.
- Free trials.
- Quotes created.
- New contacts added to database.
- New contacts signed up to receive newsletter.
- Lead magnet downloads.
- Speaking engagements done.
- Networking events attended.
- New people met.
- Social media posts.
- Social media followers. (Brand engagement)
- Social media impressions. (How many people have seen your posts)
- Social media comments. (How many people are engaged with your page)
- Social media likes. (Brand awarenes)
- % of website pages with a ‘good’ SEO score from Yoast. (How likely you are to be high in google ranking)
- Social Media advert impressions. (How many times your advert was shown)
- Social media advert reach. (How many people saw it)
- Social media advert link clicks (Brand engagement)
- Cost per result. (What advertising investment is costing you per engaged person)
- Marketing budget expenditure.
- Marketing spend by lead generated. (What each new customer costs you in terms of marketing)
I’ve just realised I could go on like this for hours. You can see just how many measures there are. Which ones are key for your business?
If you’d like our help to set up a marketing dashboard, just give us a shout. We find that there really is nowhere to hide, once the numbers are out in the open, and that’s a good thing.