Marketing Metrics learned from InboundLast week I attend­ed Hub­Spot’s 2013 Inbound Con­fer­ence in Boston, MA. I learned so many things that my head is still spin­ning, but I think that the biggest take­away from the week for me was this sim­ple state­ment (that hit me like a ton of bricks dri­ving back at 1:30am from Day­ton), Mar­ket­ing is the Sci­ence of Art.  

Mar­ket­ing like art is cre­at­ed to move peo­ple, or to res­onate with them. Art may have a more noble cause, but art is not cre­at­ed just for the sake of art. Just as mar­ket­ing is not cre­at­ed just for the sake of putting your logo on some­thing pret­ty in the hopes that peo­ple will take notice. Mar­ket­ing is the cre­ation of mean­ing­ful mate­ri­als, tac­tile and dig­i­tal, that move peo­ple to pur­chase your prod­uct or ser­vice. 

I am a cre­ative type myself. I went to DAAP for Inte­ri­or Design, and I enjoy applied arts. I love good design, and for the record, good design isn’t just aes­thet­ics. It is both form and func­tion. But how do you know if your designs or applied arts are func­tion­al?  

This is where the sci­ence comes in. How do you know that your mar­ket­ing efforts are mov­ing peo­ple? The sim­ple answer would be that sales are increas­ing, but YOU MUST DIG DEEPER!  Here are the 5 mar­ket­ing met­rics that every busi­ness must mea­sure to ensure suc­cess­ful mar­ket­ing efforts. 

  1. Don’t just mea­sure engage­ment by num­bers of likes, shares, calls, down­loads, or clicks. Look at the pat­terns. Time is mon­ey, and if you can fig­ure out the right places, times, and “venues” you can lever­age your mar­ket­ing efforts to cre­ate much more rev­enue. 
  2. Throw lead vol­ume out the win­dow. Lead vol­ume is irrel­e­vant to track. What you should be track­ing is the qual­i­ty of your leads. Are you engag­ing with the right leads, and con­vert­ing them into the right cus­tomers?
  3. Mea­sure your fun­nel. What is your con­ver­sion rate from vis­i­tor to lead and lead to cus­tomer? You must also mea­sure the ROI of each venue. For every dol­lar spent with client out­reach, net­work­ing, spon­sor­ship, etc how much rev­enue are you gain­ing? You may quick­ly find out that some of your meth­ods are actu­al­ly COSTING you mon­ey. 
  4. Do you have a tribe? A tribe is a group of peo­ple con­nect­ed to an idea, con­nect­ed to a leader, and con­nect­ed to each oth­er. Every busi­ness and every busi­ness leader has a tribe. Have you found yours? Are you lead­ing them? Are you engag­ing with them? A tribe is impor­tant because these are your advo­cates. These are the peo­ple that will help you cre­ate busi­ness suc­cess. Find your tribe, and mea­sure your influ­ence. 
  5. What is your Net Pro­mot­er Score? Sim­ply stat­ed how many of your cus­tomers would rec­om­mend your prod­uct or ser­vice to a col­league or friends? It is much more cost effec­tive to keep a cur­rent cus­tomer than to acquire a new one, and a client that is an advo­cate or pro­mot­er of your busi­ness is worth 10X his/her ini­tial pur­chase. Hav­ing a hap­py client base may be the best mar­ket­ing tool in your entire arse­nal. As Hub­Spot would say, keep them delight­ed. 

Be sure to check back for more infor­ma­tion from Inbound 2013! 

PS: What met­rics do you use to ensure suc­cess?