A small entrepreneur who runs his business without implementing a business schedule can even fail in the first few months. For example, marketing index metrics are used to determine whether an organization is reaching its audience properly and promoting sales.
One of the great challenges is enabling the enterprise to work perfectly. This is why measuring, analyzing, and implementing action plans are definitely important.
After all, what should we consider as a marketing indicator? What should we observe every day and evaluate whether the effect is satisfactory? When should we realize that health is not a good sign for companies?
If you want to better understand this topic and get the answer to this question, keep reading this article now!
Understand what marketing indicators are
The main goal of marketing is to promote an organization, market needs, products, or services that meet these needs, understand prospects and customers.
And it is for this purpose that we consider the marketing index as a key factor in determining whether this national goal is being achieved. For small and micro-entrepreneurs who have started their business or have been in the market for some time, it is important for them to analyze the competition and face the intense market that has entered it.
7 main marketing indicators for the small entrepreneur
Knowing how to manage those who have their own business is a big challenge. There are worse points in the short term that need to be assessed in the short term and worse. Indicators can help as well: Monitor your results.
But what are the most important indicators? Learn more about these and what everyone will say about the health of your business.
- Cost per Customer Acquisition (CAC)
The cost of customer acquisition (CAC) is undoubtedly one of the most important and that is why we will start with it. The main concern of an entrepreneur is to ensure that the business runs smoothly for the customers.
And with that, we've invested in a few promotions, ads, media to be able to anticipate these future customers. But each of its actions generates a certain cost.
Understanding how much CAC’s role has cost to lead the customer. This allows us to evaluate the quality of our marketing strategies and ensure that they were truly effective for your initiative.
- Return on Investment (ROI)
Another marketing indicator that allows you to evaluate the quality of your advertising is the return on investment or ROI. From this, we can compare what was invested and what was the profit for the company.
Other than that we didn’t see if there was any balance in the investment we made. Unfortunately, many entrepreneurs do not plan their strategies effectively and even when they finish sales production, they are not enough to recover all the applied costs.
- Number of Leads
We've mentioned lead before, but above all, what are they and why is there so much talk about them in marketing? In short, the tops are the people who were somehow influenced by your business and potential future buyers.
For example, if you invest financially in social networks, we will automatically have people who are consistent with your product or service and thus become potentially top-notch.
We measure this item to track whether marketing strategies are managing to capture the exact number needed to convert sales. As the top spots enter your base, eventually you need to adopt other strategies (like influencer marketing) to get customers.
- Conversion rate
Combined with the previous item, the conversion rate is the audience analysis that was affected - lead - and purchased. Thus, we understand whether lead qualification actions are intentional for your business needs.
Thus, it is not enough to enter a lot of leads if your qualifications are not enough to sell. Also, it is worth noting that they always spend more money to advance their sales funnels.
We talk a lot about indicators related to the sales stimulus, however, marketing is not just that. Another important point that we need to pay attention to in the same proportion is consumer satisfaction.
These concerns are for those who want to keep and retain their customers and even have the biological potential for new customers. We take this into account because customers advertise their work once and encourage more people to buy from you.
But, if the experience is negative, it can damage your brand and not consume it again, preventing you from winning new customers. Thus, NPS measures the level of satisfaction and reputation with the brand. Also, it is understood that any problems need to be improved or maintained.
In the digital environment, we have an important indicator that understands whether your digital marketing strategies are really working. CPC or cost per click is an indicator that verifies what we share and reach in terms of campaign objectives in this environment.
Clicks can send leads even if you are engaged with your website, your e-commerce, blog, video, or the content you present. The more engaged your audience is, the stronger the brand is and the more likely you are to move towards the funnel.
Your audience traffic is the latest and not the least. In an "offline" environment we see traffic as negative. But when we talk about marketing indicators, it is important to measure whether your item is driving your marketing campaigns, such as those of Facebook Ads and Google Ads, are being interested enough to take it to you.
Comparisons with a physical store show that it is an evaluation of the strategies that people take to the store to see and buy. The same thing happens in the online environment, be it in your e-commerce or website. And the closer you get, the more likely you are to produce sales.
Marketing index management is as important as financial and operational KPI. The region is considered one of the most responsible for the maintenance of the business and progresses as expected during the strategic planning. For your performance, it is important to work with an organization that specializes in this area and will be able to support your business start-up.
When will marketing campaigns get results?
One million dollar question. Eggs good today or chicken tomorrow? It depends on how hungry you are (or what you need most). There is no standard time, but the data allows us to understand when they are at full capacity and performance begins to decline. However, there are appropriate investments for each need, as well as related channels.
Each sales channel has a different timing and accurate performance. If you are investing in Google ads, you need to get good quality scores for relevant keywords. And already in the first weeks, potential customers are responding to effective offers of what they are looking for. OTAs can be a bit slower than the season but more consistent when investing in a trade magazine or in a B2B deal with a large company can lead to a later booking.
The advantage of online marketing is that you can always measure their performance and increase your investment in real-time.
Optimize your business marketing budget by allocating resources
Optimize your budget by allocating resources. Practice in the digital world is always to experiment and learn something new. Innovations chase each other faster and what works today can guarantee you better results in a few months or years, well. For this reason, beware of interruptions or too-long deals.
A campaign or sales channel may not generate the expected return even after multiple attempts. Then you should be able to close everything quickly and smoothly. Short contracts and more or less free trial periods are ideal for testing and evaluating the effectiveness of sales channels. Also, it can support your marketing promotions.
Is there a marketing campaign without contemplating the competitors?
Powerful information to keep track of what your competitors are doing. It helps to understand the position and degree with others and to optimize the budget for the promotion of your property.
Did you like this material and found it important for those who are starting their own business? Enjoy and share on your social networks and help more people understand it! Write to us without any problems if you want to know more about how you can define a digital marketing budget, sales channel and monitor the effectiveness of your business.