Why metrics are key to keep things running smoothly
Marketing is a crucial part of getting new clients, and in the world of home building, that’s a constant consideration that your business depends on, quite literally.
The latest technologies surrounding analytics mean that you can gather data about your marketing efforts and your ideal audience to further improve your strategy and get more clients. What’s more, these metrics can do the work for you when you have to be away or focus on other aspects of the business, showing you important performance numbers and other data upon your return.
Here are some of the most important metrics to implement into your marketing plan, and how they keep things moving forward.
Lead generation
There are many different ways to generate leads these days, which will be touched on later. However, first and foremost, it’s important to be aware of your lead numbers.
Start by figuring out how many leads you need to generate the sales that you depend on. As an example, if you know that “20 percent of your qualified leads end up as customers you also know that you need 50 qualified leads if you’re going to be able to build 10 homes.” It’s then crucial to figure out how many leads are currently in your pipeline and how many more you need to reach your target number.
It’s also important to pay attention to where your leads are coming from most often. Implement a strategy to track these numbers so you can focus your lead generation efforts on these more fruitful outlets.
Social media
Social media platforms are great tools to track leads and get your message to the right audiences. While they may not be your number-one lead generator, they’re important for brand-awareness tactics and SEO.
The metrics that you should pay the most attention to on social media are:
- Clicks
- Likes and comments (audience engagement)
- Reach (number of people who see your message)
Social media clicks are an important metric for your business. Tracking clicks means you can see which users clicked outside of the page, and you can get a better understanding of how your social media platforms are integrating with your website and other content that lives outside of the platforms.
For engagement numbers to increase, it’s necessary for your brand to post regularly so that your audience sees fresh content all the time. This gives them more opportunities to like or comment on a post. Plus, you’ll stay at the top of their mind with frequent content. The more engagement you have on social media, the more credibility you have from search engines, and thus, your ranking improves.
Finally, track how many people are viewing your content; not just interacting with it. Even if a user doesn’t like or comment on your content, you’re still getting your name out there if your brand is seen.
Website traffic
You probably know by now that having a killer website is key to most businesses’ success. Seventy-two percent of customers first search digitally for a product or service. As such, it’s crucial to ensure that your website implements keywords and other SEO best practices so your audience can find you in a search. (For instance, make sure your location is incorporated into your content, and that search terms are in headings.)
Pay close attention to how much traffic your website gets, and where users are coming from.
Blog or newsletters
Another great way to track lead metrics is to generate regular content via a blog or newsletter (or both). An email newsletter lets you see how many people subscribe or unsubscribe, how many people open the email, and how many people click on the content that leads back to your website. These are all important metrics to monitor how your message connects with leads and how your ideal audience behaves and responds.
Blogs are always a good idea for your business and marketing metrics. These online posts are packed with keywords so that Google can better connect your audience to your content, and then your brand and services.
Using blog analytics can show you which topics people are searching for the most and which posts your audience engages with the most. Through blog analytics, like email newsletters, you can see page views and clicks.
These marketing metrics are all important slices of your lead generation pie. If they are all functioning well, you’ll be able to gather and analyze data about your audience’s behavior while generating high-quality leads and updating your strategy to cater to real metrics. By using marketing metrics to determine your audience’s behavior, you will be able to make a financial forecast based on current trends from the data you’ve collected. Once you have this information you can create a detailed budget for the upcoming year.
The advisors at No Boundaries CPA can help you create a business plan and review profitability to ensure you’re putting your time and attention into the right channels. We can help you build a roadmap for your business that encompasses your accounting, marketing, communications, and human resources efforts. Contact the team today to schedule a consultation.
