How to Measure Your Marketing Success
Once you’ve built up an understanding of the 4 Sales & Marketing Pillars and how Sales and Marketing work together as you move a lead to a client, you need to know how to determine if those moves were a success.
You must be able to measure your actions and calculate some metrics so you can zero in on the marketing area that needs work and perfect the areas that already do well.
That’s the where the 4 Pillars come into play. You will be able to identify mistakes in your marketing and/or sales process by looking at the numbers within the Pillars. Let’s start with leads!
Measuring Success With Leads
A lead is someone who has expressed interest in your offer. You should define lead really tightly within your business to break it down. There are different types of leads in different stages of the buying process, from those only interested in email marketing to a highly qualified lead who buys into the FEO right off the bat.
Leads are at the front of the 4 Pillars because all clients begin as one; therefore, it is important to track each and every one of them throughout the buying process.
Here are some basic steps you can take to track the 4 Pillars, starting with leads.
- Leads- Track how many people gave you info a given month but track it weekly.
- How many of those leads bought into your challenge, jumpstart, or FEO (Front End Offer)? If you don’t have an FEO, I highly suggest you create one!
- How many FEO clients sign up for your CO (Core Offer)?
- Retention Tracking- Are your clients staying with your offer?
Each of these numbers tells you something a little different about each part of your Marketing and Sales process and makes it easy to measure your marketing success.
For example, with Lead to FEO conversion you need to look at trends over time because a one-month snapshot may not give you the entire story. Tracking trends over a quarterly basis is more effective.
With the FEO to CO conversion– You need to look at how well you are converting and how good the initial experience is for that person. You should be converting a high number of FEO into long-term CO. Finally, the fourth Pillar and metric you should track is your retention rate. Always aim for 100% retention.
For a closer look at specific percentages within your conversions, check out our Fitness Marketing Mastery curriculum inside The Academy!