5 Metrics that Drive EOS Marketing
Are you considered a thought leader in your industry? Are you sure?
Marketing can be a bit of black magic, and big tech companies act as the judge, jury and executioner for small businesses. When you want to level-up your marketing effectiveness, how do you know what to do and what to look for?
Google’s Marketing Metric is Domain Authority
Domain authority is an evaluation of how Google views your website and business. It takes in all kinds of metrics and uses them to decide where you rank among your competition. The Domain Authority is then used to evaluate how valuable your content is, and where your company should rank on Google searches.
There’s choice here. You can track domain authority, it isn’t particularly actionable, but a lot of businesses do just that. In accordance with EOS principles, we find tracking the underlying factors that determine domain authority far more actionable.
The most important ones are:
– Number of Quality Content Pieces
– Site Speed
– Mobile Usability Errors
– Bounce Rate
If you want to track domain authority specifically, you can’t do it in Google Analytics. They don’t like to give out that number, but many other analytics services like SEMRush or Moz can do that for you. If you want to break it down by the important factors, all of that can be tracked by Google Analytics.
The True Social Media Marketing Metric is the Quantity of Quality Content
Social media content marketing can be a challenge, but whether your business is local, national or even international, it’s a pipeline to potential customers.
Most social media sites have their own backend with analytics for you, but it’s easy to get buried in data. In fact, the most important metric you can measure here you don’t even need analytics for. It is simply the number of new content pieces you posted. Easy and actionable. To make sure these are quality pieces and gear your future content to things that convert, you probably also want to track the click-through rate.
If you are struggling with those marketing metrics, you can break this down a bit further to identify why. Here’s a few things you can look at.
– Engagement (likes, shares, comments and link clicks)
– This lets you know your audience finds this content valuable and enjoys engaging with it. If you aren’t getting any engagement, perhaps your content is missing the mark on the creative side.
– Site Visits
– Measure how many people actually come to your website, it’s really the bottom line. If you aren’t getting site visits, maybe try some harder call-to-actions or add some limited time incentives.
Email Marketing Metrics Break Down into Site Visits
Email marketing is the bread and butter of converting return customers. The goal is to build a list of loyal customers and continue to offer them new ideas and solutions. There’s just two marketing metrics that you MUST keep your eye on here.
– Percent increase or decrease in list size
– Click-through rate
It’s about as simple as that. Open rate is kind of a vanity marketing metric. It can help you identify if your content is valuable to the audience, but if you have a high open rate and no click-through, you still aren’t converting.
In-Person Activities Lead to Email Captures
This definitely does not apply to every business. Many companies are digital-only, and don’t participate in trade shows or relevant events. But if your company does, you should track how successful those efforts are.
If you sell product at booths like this, you should be tracking sales metrics there. However, if you are there to promote your brand and potentially snag some customers, you want to track the number of people from that event that visited your website.
There are a few ways to do this. You can set up a free download for members of that event. The icing on the cake is that you can capture their email for your list on the download.
The Holy Grail of Marketing Metrics – Conversion Rate
Everything you track is to get people to this point, your sales funnel, and there is just one goal here – convert. What percentage of visitors buy your product? You can have all the website traffic in the world, but if no one ever clicks “Add to cart,” then it isn’t worth much.
Where is your content falling short? Having trouble breaking through to new people or converting those leads to clients? Wyckoff Consulting works directly with EOS driven companies to activate their marketing and demystify the data. We help you build tracking techniques and compelling sales funnels within an EOS framework that is easy to understand and manage.