Metric reporting is most times regarded as the most important task that is executed by the marketing department. Often, marketers are consumed by so many metrics, it’s hard to define what is important and public facing versus what should be kept and monitored to create a larger story. After all, metric reporting tells a version of your marketing activities’ story. This story, depending on how good or bad, could be the determinate for your monthly, quarterly or yearly budget. No pressure!
One repeated question that comes to mind, what metrics are the one’s my C-suite cares about? Good question. 73% of executives don’t believe that marketers are focused on enough results to truly drive incremental customer demand. Is that true? That will be determined at your next marketing campaign review meeting. Generally, the C-Suite is interested in results: how has the spend on your marketing campaigns and efforts pushed the overall bottom line. Your reporting should focus on these 6-key metrics:
- Customer Acquisition Costs (CAC)
- Marketing % of Customer Acquisition Costs
- Ratio of customer lifetime value to CAC (LTV: CAC)
- Time to payback CAC
- Marketing Originated Customer %
- Marketing Influenced Customer %
Organizing all reporting data can be daunting and feel overwhelming. This guide will show you how to get organized and be impressive at your next meeting. Once your reporting data is organized in this way you will give a clear view on how your efforts have led to new customers, lowered customer acquisition costs and/or created higher customer lifetime value.
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