There are two primary motivations marketers need to address in their messaging: Making the target…
- Revenue – I’ve never seen an employee accept a low CPC or high market share in lieu of pay.
- Profit Margin – knowing how much profit you have to market with… Fun fact: you’d better not spend all of your profit on marketing.
- CAC – Customer Acquisition cost. How much does it cost to acquire a new customer?
- Customer LTV (lifetime value) – How much profit will a customer generate? Bonus points if you know this by product or segment!
- Lead (or click) to Customer conversion rate – how many leads or clicks does it take to turn into a customer? This is a leading indicator so that you can optimize your marketing to generate the highest ROI possible.
- Cost – You think “No kidding” but are you including salaries and contractors and agencies and everything else? Program costs, not ad spend. Think like an executive or business owner, not a marketer.
- ROI (return on investment) – Marketing is an investment, a profit center, not a cost center. Knowing how much you’re getting back in revenue and profit for every marketing dollar invested provides a financial formula, a goal to optimize towards, keeps the marketing department staffed, and keeps the company in business.