As modern marketers, we all tend to focus on measuring. Metrics are becoming more important to marketers than Mad Men -style booze-infused meetings and hand-drawn concept boards. But are we measuring the right metrics?
Here, we are presenting two vital metrics that are not properly measured in most organizations. The first one will solve most of your budgeting problems, while the second one is one of the most important measurements for content marketing efforts.
BTW, that coffee from Starbucks you were looking at is actually worth $14 000 a cup. That’s the price Starbucks can pay to get you to purchase your first cup of coffee and still be profitable. Here’s why:
1) Customer Lifetime Value
How to use this information?
($500*4)*0.1/(1-60%) = $500
2) Gained organic links
The easiest way to track it is to keep track of the links that your organization is actively building and then deducting the total number of those backlinks from the total amount of all backlinks pointing to that piece of content. This is often a better measurement for engagement than the number of social shares, as the barrier of linking is much higher than the barrier of sharing. Backlinks are also often more effective at bringing relevant traffic to the site compared to social shares.
What are the most under-utilized marketing metrics in your opinion? Post a comment below!