Issues with Sales Funnel Metrics

The basic premise of marketing metrics is that marketing produces metrics and metrics guide marketing. Without data, it’s impossible to make informed decisions, set goals, understand how well tactics are working, etc. However, metrics are only helpful if they meet 3 criteria:

They are meaningful: Do they matter to the business?
They are accurate: Are they being accurately tracked and reported?
They are relevant: Do they align with objectives?

You can actually have too many metrics, which leads to everyone feeling overwhelmed and unable to prioritize initiatives and resources. Too many metrics can also result in strategies that lack focus or direction. To avoid this, evaluate which metrics

· Are actually worth tracking

· Align with your business objectives

· Are tailored to the target audience; for example, marketing managers may be looking for different metrics than sales managers.

While conversions (toward the end of the funnel) are always important, not every landing page is geared toward conversion. If they were, visitors would be quickly overwhelmed and unlikely to buy. Metrics should be tailored to each stage of the sales funnel and the metrics that matter most at each stage.

Metrics should also be tied to campaign objectives. For example, an awareness-building campaign (top of the sales funnel) should be measured with awareness metrics such as:

· Impressions – the total number of times a page is viewed in organic search results

· Rankings – the position of a brand’s content on the search engine results page

· Share of Voice – the frequency with which a website or page ranks well for targeted key terms

· Visibility: The likelihood that a user will engage with your brand’s content in organic search, based on organic rankings for a set of targeted keywords.

Metrics can be relevant and informative or they can be a rabbit hole of disjointed information. The difference between the former and the latter is a metrics-based strategy crafted by experts.

For a no cost discussion of your situation and how we can leverage metrics-based marketing to grow your business call 630-363-8081 or email jeanna@smartprcommunications.com.