WHY IS ADVERTISING SO IMPORTANT?A successful campaign offers a better long term ROI than you might realize.
Increased Ad Budget Key to Explosive Growth
We tracked a lead generation campaign for a service business client and found they were paying an average of $30 per lead, converting 20% of leads into customers.
Our models determined their average monthly churn rate is 3% and average monthly revenue per customer is $254.33.
We forecasted the long term outcomes for 3 monthly advertising budgets: $0, $1000, and $2000.
Spending $2000 per month in advertising instead of $1000 per month resulted in over $16,000 in additional monthly revenue after 12 months.
Due to churn, spending $0 on advertising, their monthly revenue would shrink, not stay flat.
Our client wouldn’t have known to make this change without accurate KPI tracking.
Not Getting Accurate KPIs?
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HOW DO WE HELP?
questions we answer
- Which lead sources should you allocate your budget to, and should you increase your monthly ad spend?
- What lead sources are your most profitable customers coming from, and if the leads are more expensive, is it still worth it?
- Are you getting a better ROI from incoming phone calls or online form submissions?
- How do you hold a marketing consultant or agency accountable for results?
how do we do it?
- We connect your advertising channels to your dashboard so you know where leads come from.
- Our phone system allows you to quickly tag calls with outcomes so you know what leads resulted in sales.
- Your custom dashboard displays results that can be easily organized by time period and outcome so you can diagnose and solve problems.
- We run our models to show your ROI for different lead sources and what you can do to improve your results.
Customer Lifetime Value
The average amount a customer spends with a business over their entire lifespan. Increasing frequency and transaction size, and decreasing churn rate, increase CLV.
Profit per customer x Average customer lifespan
Cost per Lead
The average cost per new lead.
Total marketing spend/Total new leads
Leads Closed %
The percentage of new leads that become customers.
Total new customers/Total leads
Measures the rate customers cancel service, close their account, or otherwise leave your business. Improving customer service typically reduces churn.
Lost customers/Total customers