Making Customer Touches Measurable
“The idea is to alter future actions based on present data,” Zoot said with understanding. “But, we can’t stop there. We also need to track the cost of each sales conversion.”
Numo perked up at the mention of the cost. “Tracking the cost of each sales conversion will allow us to create useful marketing metrics that can help us make more financially intelligent marketing decisions,” he pointed out.
“How can we do that?” Marka asked with curiosity.
“I’m glad you asked,” said Numo, smiling.
Today’s FIRE! Point
Tracking the effectiveness of your promotional activities can help you match these activities with results and match cost outflows to revenue inflows. Over time, these measurements will allow you to establish guidelines of what works and make more strategic business decisions based on this knowledge.
FIRE! in Action
Alibris Makes its Google Adwords Campaign Measurable
The online bookseller knows its Google AdWords campaign is producing ROI, because every website visit and order made through AdWords is tracked and measured against the cost of the program. With help from AdWords, the business has seen its sales grow 80 percent over a four-year time period.
Next week: The FEI tribe discusses making their sales activities measurable.