John Jantsch has a great post about the best metrics that small businesses don’t measure. It’s a list that, when we put together a paid search campaign we try very hard to get our clients to use (or at least figure out).
1) Leads - where do they come from, how many, and what generated them - if you don’t know this, it’s likely you are wasting lots of money on things that are not generating leads, or potentially worse, not sticking with a great tactic.
2)Average $ - What’s average amount of business you do with a client - your existing clients want to do more business with you. It’s easy to create an average dollar number and give your attention to creating more opportunities and more profitable clients - this way you can weed out clients that fall below the number eternally.
3)Conversions - How many of those leads turn into clients - the biggest time killer of all for the small business is chasing leads that are not qualified, not educated (by you, not in life), not ready to appreciate your value. When you measure this, you have to fix it, it’s too painful otherwise.
These are especially important if you’re purchasing leads - no matter what your business, it is vital to know as precisely as possible where your customers are coming from, how much they cost to acquire, and the potential profit from them.
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