You’ve invested in marketing automation software and have spent a lot of time and energy implementing your new marketing automation strategy. Now that your new system is live, you’ll need to take steps to find out if it is working. By examining the right metrics you’ll have a better understanding of what is working and what might need improvement.
Response Metrics
Response metrics will give you an idea of whether your automation is making an impact with your audience. There are certain metrics that can show you whether your marketing automation strategy is being well-received:
- Site traffic. If conversions are being driven by your emails, you should also see an increase in web traffic.
- Click-through and open rates. These metrics will show if your emails were well crafted and viewed by customers.
- Unsubscribe rates. Your unsubscribe rate should always stay under 1%, and if it is higher than that, you can assume that you aren’t sending relevant content.
Efficiency Metrics
If you need more information about how your marketing automation strategy is affecting your business, efficiency metrics might be able to paint a clearer picture. While there are a variety of measures that can help you to better understand your system efficiency, some are easier to review than others:
- Sales-accepted leads. If your sales-accepted leads are increasing, this can be a good indication that marketing automation is making your business more efficient.
- Marketing qualified leads (MQLs). MQLs are more likely to become a customer based on pre-close activities. MQLs should increase if leads are effectively nurtured during marketing automation.
- Cost per customer. When marketing automation is being used effectively, your cost per customer should be reduced.
Activity Metrics
Keeping track of some activity metrics after you implement your marketing automation strategy can give you an idea about whether your investment is actually being used. Some of the most important activity metrics include:
- Number of emails. This is one of the easiest ways to determine if your team is making good use out of your marketing automation software.
- Social media posts. A good marketing automation strategy will automate your social media usage. By determining the number of posts, you can get a better idea of how well your system is working.
Value Metrics
Effecting marketing automation will impact your business bottom line. In order to track this, you may want to review the following metrics:
- Revenue-generated. One of the best ways to determine the value of a system is to find out how much revenue is tied to it. When examining revenue growth, you’ll want to monitor the change in the average sale price and whether you are closing more deals.
- Marketing-sourced lead close rates. Close rates on marketing-sourced leads can show your sales team that the leads you provide them are closing at high rates.
Need Help With Your Marketing Automation Strategy?
Your marketing automation strategy isn’t something that you’ll set and forget. Depending on what works, you’ll want to make changes to your plan, and the right metrics can tell you what you need to do differently.
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