Technology has brought us so many more ways to measure our business performance.
There seems to be a metric for everything, but it can be difficult to know exactly ones you should be measuring.
As a business owner, metrics can help you understand why you are not getting more leads or converting more customers.
It can also reinforce that you are on the right track with your marketing strategy.
Either way, you need to check that the metric you are focusing on include everything you should be measuring.
However, it can be easy to miss a few critical metrics. Consider these five metrics that you may not have incorporated in your analytics.
Related Article: 14 Tools to Track Key Performance Indicators for Your Business
1. Average Lead Close Rate
Tracking the average rate it takes to close leads help you assess the quality level of the leads you are getting.
The higher the average lead close rate, the better quality of business you are enjoying as a boost to your revenue.
However, if your revenues just aren’t where you would like them to be, this metric could help you see that your leads are just not at the quality that they should be at in order to close more sales.
This would then require you to dig deeper and find out why the lead quality is low, which may mean gathering other metrics like the other ones on this list.
A conversion formula is: Total Number of Sales/Number of Unique Visitors *100.
2. Paid and Organic Lead Percentages
Often, paid versus organic leads are not separated for measurement.
However, it is important to assess how many leads are originating from what you have paid for like social advertising versus what you generated just using you or your team’s time, such as blogging or email marketing.
If you could get more leads from organic efforts rather than paying for those leads, then you would want to know those percentages in order to validate shifting to those non-paid marketing tactics.
This can also help you adjust which tactics get the most attention so you can align your resources, including your time, to get the maximum amount of leads.
Google AdWords offers reports that calculate these percentages for you.
3. Call-to-Action Click Rate
You may be agonizing over crafting the perfect call-to-action (CTA), but then you aren’t bothering to find out if all that time really paid off.
By tracking your call-to-action click-through rate, you can see if that time and those words are really influencing your audience.
You can do this by looking at how many people visit a page where that call-to-action has directed them and then click on that page’s CTA.
Just be aware that, along with the words in your CTA, the reaction might also be influenced by the position and color that you have selected, so you will want to change one of these factors at a time and then re-test to gauge if this makes a difference.
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4. Content Longevity
While you are putting considerable time and maybe even money to getting relevant content, you may not have examined how much bang for your buck that you are getting over time.
For example, some content could be returning leads for a longer period of time than other content. It’s a way to determine just when content should be refreshed or if direction in theme or information needs to change to see if interest levels peak much later.
Companies like Bitly offer tools that help determine just how long readers are actually interested in the content.
Other ways to track content longevity includes the number of landing page sign ups, blog post reads, and video views, tracking when these begin to trail off on a daily basis to see where interest has hit the maximum number.
5. Leads per Keyword
While many business owners look at SEO in a general way, they do not tend to drill down and assess the performance of certain keywords that have been picked as highly relevant and important to incorporate in their content marketing and social media marketing efforts.
This will help you know which keywords to continue using as you refresh your content.
If you don’t know, you could be continuing to use less effective words and be missing out on some valuable leads.
Wordstream is one source for assessing the ability of certain words to generate leads for your business.
Related Article: Which Social Media Metrics Actually Matter?
Leveraging these types of metrics can help you do a better job at marketing your business and brand as well as lead to working smarter with your allotted time and budget.
It’s about measuring what matters versus what is the easiest metric to get. However, these five metrics are able to accomplish what matters and do it in an easy, low-cost way.