When we are onboarding a client at ClearBox Strategies, one of the questions we like to discuss is, “What does winning look like?” We want to know how our client is going to judge success/failure on any given project. Define what you want success to look like for a total campaign as well as for each different tactic or channel within that campaign.
Developing Metrics for Measuring Growth“ If you don’t know where you are going, you’ll probably end up somewhere else.” - Lewis Carrol. One of the biggest challenges you’ll face as a business owner or manager is developing metrics that can be used to track progress and demonstrate success. A key tool for you will be a software platform that easily shows all of the data you need in a concise way. HubSpot, Databox, or even Excel can get this done. Decide what matters to track.
Here are some possibilities:
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Number of views
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A number of interactions with content (likes, shares, form fills, button clicks, etc.)
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Conversions from visitor to lead
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Conversions from lead to the appointment
- Conversion from appointment to sale
Everyone’s customer journey is different, but you will have to spend the time to develop just what your customer’s journey looks like from awareness to purchase. As your timeline of measurement gets longer, the results become more valid and helpful in planning.
Analyzing Trends in Your Metrics
Once you’ve developed your metrics, the next step is to analyze them to identify trends and patterns. It’s important to pay attention to both positive and negative trends and use that information to inform decisions and strategies. Analyze your metrics in comparison to competitors' benchmarks to get a better understanding of where your business stands in the market. Finally, you should look for correlations between different metrics to determine which ones are most predictive of success. By developing and analyzing your metrics, you can optimize your business for growth and make sure that you’re always making progress toward your goals.
We can help with understanding your customer’s journey, the metrics that you can and should be measuring, and interpreting those results. If you’d like to have an initial conversation, we’d be happy to oblige.
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