Saying “We can level up your marketing strategy by implementing a measurement strategy” usually goes one of two ways.
- People get really excited about the possibilities of growth. Then lose track of the “why”.
- People start asking questions about buttons, colors, and design “working”, but the truth is, it’s not that simple.
Here is what I’ve learned about marketing with intent and how you can start thinking differently.
Marketing Is A River
You need to understand that measurement marketing is like a river. You do not know where any individual fish are. But, you do know where the majority of the fish will end up (downriver). You can adjust the currents by using rocks (aka content) to get a greater percentage of fish into your net (customers).
This is marketing.
I do not know “why” any individual person decided to purchase but I do know why the majority of people purchase.
The moment you start trying to track down why this one person did your action is the exact moment you start wasting time and energy on something that was random.
A user might touch your brand 50+ times before deciding to trust you. Do you want me to give you every single way they touched you? Does that help you? NO IT WOULD BE CHAOS
Is There A Better Way To Market?
We use a system called A.C.E. -> Pronounced /ās/
Awareness, Engagement & Conversion (A.C.E.). (I know they are rearranged)
We track all the ways people become aware, engage, and convert with you. Then you will be able to see the currents/trends of your company.
Every Industry is different and every sub-niche is different so we can not give you “industry standards” for each of these, but we can base your business off of other relevant ones.
When you are speaking to your audience you will start to see trends.
- Awareness (80%)
- Engagement (50%)
- Conversion (10%)
If you can nail down how people enter each of these stages it does not matter how you get your traffic or where your fish end up. Because you know your numbers.
You can then break it down by channel:
- Facebook -> Awareness
- Facebook -> Engagement
- Facebook -> Conversion
- Email -> Engagement
- Email -> Conversion
What should your numbers be?
This is a difficult metric but here are some general rule of thumb numbers. It will varry wildly by industry but know that you can compensate by price and market size.
- The conversion rate of cold traffic 1-3%
- Percentage open of your first email 60%
- Percentage open of you 5th email 30%
- Paid lead magnet conversion rate 40-60%
- Abandon Cart 40%
- Here is your math problem
- You get 10,000 people to your website
- 80% – 8,000 become aware of what you offer.
- 30% – 3,000 engage with your offer.
- 1% – 100 convert
DO NOT COMPARE THESE TO YOUR NUMBERS. START FROM SCRATCH.
The moment that your system breaks you either have a traffic problem or a conversion problem.
When you start to grow is when you can now invest in people, technologies, and advertising to grow fast!