5 Critical Marketing Metrics
What’s in a metric? Well, when it comes to SEO, just about everything! If you haven’t carefully calculated your success and failure as part of your marketing strategy than, more than likely, a lot of failures that you could have foreseen will come to pass and a lot of successes that you could have been expecting will never be uncovered.
A critical mistake that a lot of SEO companies make is focusing too much on new traffic, letting everything else go by the wayside. Not good! A lot of healthcare providers (clinics, dentists, chiropractors…) grow their patient base through patient referral. The potential for new traffic is high. SEO for these websites really should be focusing on metrics, so that the new traffic knows where to go and what to do.
If they arrive at a page for a surgeon and it's messy and easy to navigate, they will more than likely assume the same of the surgeon- not good!
The ROI Formula
Return on Investment allows for comparing and measuring the success or failure of an investment. It's a common and simple formula, easily paired with other strategies when it comes to develop a successful business plan. This doesn't have to be used just where monetary investments are made, though. It can also be used to help determine the potential success of an SEO strategy.
The CPA Formula
This formula tells how much money a business has spent in order to obtain something specific (usually called Cost Per Action of Cost Per Acquisition). For example, how much a business has spent on their SEO. CPA can help define marketing strategies, specifically when it comes to ads and campaigns, agreeing on a set amount per revenue generated from the strategy.
The ROAS Formula
Return On Advertising Spend measures profit brought in specifically from advertising. This is a really good thing to know for SEO. Medical practitioners generally receive their clientele from patient or insurance-based referral, so finding out who is coming to them because of their ads is super helpful for the adjustment of that campaign. Is the advertisement bringing in enough new business to justify the cost of the advertisement?
The CLV Formula
The desire for any business is that a customer will stick around for the long-term. In the health care industry this is amplified because of a person's desire to connect with the provider of their healthcare! The Customer Lifetime Value metric starts with the first user interaction to the final one. This sheds light on the effectiveness of the long-term marketing marketing tiPs and different strategies.
The CRR Formula
This metric assesses how consistently faithful a customer is. After all, bringing in new customers is more expensive than keeping current, so what it behooves to find out why the faithful customers are staying faithful. Business and marketing strategies change around the Customer Retention Rate.
Clearly, using the marketing metrics in sync with one another can yield valuable information about the growth of a business and the direction it's heading in (up or down). It's the same thing with local IndianaPolis seo, just applying the metrics differently.