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What is a good marketing ROI? Howard Wolpoff, Chief Marketing Strategist at Profit Master Business Solutions, joins me on this live recording of “The Business Storytelling Show” content strategy podcast to share his take on the topic of marketing metrics.
We discuss:
- What are some marketing metrics examples you recommend teams focus on?
- Are there different marketing metrics examples for different parts of the customer journey?
- Who should be in charge of measuring whether or not the marketing is working?
- And more…
At the end of the day, the marketing metrics to focus on truly depend on the goal. For example, Howard gave several marketing metrics examples in the discussion with me. All depend highly on the goal.
Trying YouTube Shorts? Set a goal of viewership. Once you can bump that up, set another goal of increasing viewership. Maybe set a goal of increasing subscribers or likes. Consider adding a QR code on-screen to drive next-click actions and make that a goal. Do keep in mind that content effectiveness does include a number of user experiences – from awareness, to engagement to a sale and then of course loyalty. And the goals depend on the stage and the type of content.
It’s also important to remember what kind of marketing budget is available, Howard reminds us. That’s sometimes why larger brands forget about the organic strategies that I discuss on this episode with Terakeet. Marketing works when it keeps the different stages of the customer experience in mind, measures those correctly and then keep advancing consumers in that funnel.
Howard said that strategic approach is quite impossible to plan or implement when a company is in chaos, when workflows and priorities are all over the place. That’s why it’s so important to set goals, then try to reach those goals, keep improving on them and update them as you move along in your marketing strategy.