There are four means by which we track the results of our clients’ marketing initiatives:
Online Analytics and Pay-Per-Click Tracking:
There are a variety of tracking tools designed to ascertain the success of online marketing initiatives. These tools measure the effectiveness of paid advertising efforts, search engine optimization and other internet marketing activities. Included are such metrics as number of site visitors, bounce rates, click-through rates, length of sessions and demographic information, among much more.
Certain marketing tools lend themselves well to measuring return on investment. For example, the revenue generated from a seminar can be measured against its costs. The effectiveness of ads can be tracked via distinct phone lines. And direct marketing can be measured by the percent of inquiries it generates. Qualitative Means:
Marketing’s effectiveness can also be looked at holistically by comparing revenue data from one year to the next and/or by assessing whether visibility is being generated (e.g., seeing that the firm has made the papers, learning that friends and colleagues have noticed the ads, etc.) Etiometrix:
Based on a proprietary methodology in which the genesis of every new client is traced, Etiometrix examines the relationship amongst 4 variables (revenue, expenses, time and client touchpoints) to provide service businesses with insights pertinent to marketing, budgeting, human resources, sales and reputation management. It addresses three basic questions:
- Which marketing tools are working most effectively?
- Who are your best rainmakers as based on net dollar metrics?
- How “word-of-mouth” is working for the firm?