Is your marketing working for your practice right now? This is a key question that you should be asking yourself every time you create a piece of content, an ad or anything for your brand using digital marketing. The good news is digital marketing is easier than ever to measure and track, but are you measuring meaningful data. In this episode we cover what you need to be tracking to make sure that the marketing you are doing is actually having an impact on revenue at your business.
There are three levels of data measurement that I cover in today’s episode: Top Level, Mid Level and Bottom Level analytics. When you have someone who comes into contact with your brand online, they are at the top of your funnel, having just been introduced to you. Your goal is to bring them through your funnel to the bottom where they can become an actual client and make your practice revenue. Each of these marketing metrics has a place, but ultimately if you want to make a positive financial impact you’re going to need to start measuring bottom level metrics so that you can track the impact your marketing is having.
Top level or top of funnel analytics are really easy to measure, but don’t have any impact on bottom line. Sometimes marketers call these vanity metrics because they’re nice to look at but don’t mean too much. Top level analytics are things like clicks, likes, shares, bounce rates, time on site etc. These are good indicators for whether or not your marketing is having an impact, and this can be a good baseline for your social media content but you can’t keep the lights on with just likes alone, you need people to come into your practice.
Mid level analytics are getting more at data that helps you to grow your business. These are data points that help track things that will grow your business over time, but aren’t directly linked to revenue. These kinds of things are webinar registrations, lead magnet opt ins, contact us form submissions, newsletter subscribers and things like that.
Bottom level analytics are where you start measuring the data that will help determine ROI of campaigns. If you are the owner of a practice or you report to the owner of a practice, these are the numbers that you want to see and show. These will tell you if you’re campaigns are making money or if they’re losing money. Data points that are on bottom level are things like revenue per lead, conversion rate of leads, average revenue per visitor, average revenue per conversion, average revenue per appointment etc.
Sometimes you’ll have to layer these analytics together to see the full picture of what is going on within your marketing. Please if you ever need help analyzing campaign data don’t hesitate to reach out to me! I love this stuff just email me at >>Brandon@veterinarymarketingpodcast.com<<