There’s a mountain of data available from your analysis tools (and you should be using more than one, by the way), but do you know where to find the real ROI gems?
Are you creating a solid foundation for measuring your marketing efforts before you race down the hall to the boss’s office?
To help you answer those questions, I’ve spent the last week trolling through test data and speaking with our analysts about our next free Web Clinic on Wednesday, Aug. 16: Measuring What Matters: How simplifying your metrics can increase Marketing ROI by up to 75%.
After doing the research for the Clinic, it appears MarketingExperiments and Cory Treffiletti, president and managing partner for Catalyst SF, are singing the same song: Click-through rates don’t impress savvy CEOs.
He even uses this analogy in his recent blog post, “Please Stop Asking About Click Rates!”
“In the offline world, how many times have you seen someone hop into a taxi cab as a result of seeing an ad on the cab, and ask to be driven to the store featured in that ad? This is the functional equivalent of tracking click-through rates — and if you look at it in those terms, it sounds a little silly.”
Well put, Cory. We couldn’t agree more.
In this tough economy, experienced and inexperienced online marketers alike would do well to focus on data quality over quantity and get back to basics:
• How much is it costing you to acquire customers?
• How many of them are there?
• How much are they worth?
• What’s their lifetime value (LTV)?
• What’s the net result?
Our upcoming Clinic is designed to help you lock on to the ROI indicators and metrics that matter most – to you and your CEO. We hope you’ll join us for this free Webinar.