When it comes to marketing, different marketing agencies use different approaches to push their clients’ businesses to the next level. Some marketing experts are naturally creative. Others are mostly data-driven.
To thrive in a highly competitive market, your boutique marketing agency needs to mix both approaches in a really unique way. Being a creative genius is great, but with no crucial data to back up your efforts, you might not go far.
So, what key data should your boutique marketing agency track? Well, start with these three important key metrics:
1. Traffic by Source
Do clients ask you for performance across all channels? If so, do you always find yourself having a hard time compiling all that information? With the myriad of marketing channels available and limited time to capitalize on all of them, the “Traffic by Source” metric is a crucial key metric to track. Here are some examples:
- For email, the key metrics could be the number of opens, clicks, subscribers, and sales.
- With organic search, the key metrics could be the number of users that visit your website, the time they spend on your site, and the number of sales you generated.
- For referrals, the key metrics could be the number of users that were sent to your website after clicking a link from another website, and the number of sales you generated.
- For social, the key metrics could be the number of followers, likes, shares, and the sales you generated.
The above are examples of marketing channels. Your clients’ situation could be different. Regardless, you can put all “Traffic by Source” metrics together and review high-level results, usually monthly. The monthly report will help your clients to establish performance across all channels. It will also help them to narrow down where they should spend their money.
2. Return on Investment
As a marketing agent, do you feel confident that you are guiding your clients on what marketing efforts are working best? If your recommendations are based on gut feeling rather than data, you need to start tracking the inbound marketing ROI metric.
The ROI marketing metric comes as no surprise as it serves as a true baseline for success. It equates to how much you spend on your marketing vs how much you earn. Measuring your marketing efforts will give you actionable insights on what efforts are working best. It also reassures your clients that they’re receiving real results for their investment.
3. Return on Ad Spend (ROAS)
Do you wish could show your clients scenarios of what would most likely happen if they increased or decreased their ad spend easily and effectively? Without tracking the ROAS metric, then you may have a hard time doing so.
In many ways, the Return on Ad Spend metric is similar to the Return on Investment metric. Nevertheless, there’s a difference between the two. While ROI is generally used to assess the overall effectiveness of your marketing, ROAS is usually used to assess the effectiveness of a specific ad or campaign.
Contact a Chief Data Officer Today!
Do you want to learn more about data science and how it affects your clients’ businesses on a day-to-day level? Helios Company is here to help.
As your outsourced chief data officer, we will teach you how to use key metrics to grow your clients’ businesses. Our dedicated team can help you develop and tweak effective internal processes for both day-to-day operations and long-term growth.
Contact us online or call us at (833) 743-5467 today to find out how we can help take your boutique marketing agency to the next level. No matter how smaller your agency is, Helios company will be there to work on your data.