How Do I Know My Marketing Is Working?

by Sherry Sutton in small business growth Posted on 02/16/2023 08:00 AM

Do you know if your marketing is working? Are you spending time and money, without a clear understanding if it's actually driving sales?

Every company struggles with this question. It can be incredibly difficult to know! But here are some insider tips that big companies do so you can adapt them for your small business.

First off, the thing to remember is that people have to see your message 7-30 times before they even decide to buy from you. So what does that mean for metrics? Marketing is a long game. The content or activities you do today are going to drive business in the future because they're cumulative. Sometimes your audience may see you in a place you don't even realize.

Key Business Metrics to Know:

Financial:

Revenue and spending on marketing. As a small business owner or solopreneur, you need to assign an hourly rate for your time. Because time is money! Then, take that hourly rate for yourself plus the actual dollars you've spent on marketing to see your total. Charge that back to the business and make sure it's covered by your revenue!

Lead Generation:

Where did your business (and sales) come from? This is a question I ask every customer and is essential to know what part of your marketing is working. What did they see that drove them to reach out or buy?

Sometimes you won't be able to identify what drove them to buy. So keep an eye on your overall marketing mix. You are going to have a mix of activities depending on where potential customers are in the marketing funnel.

If you don't know about the marketing funnel, check out this video I did all about this topic: The Three Simple Steps To Getting New Business or message me about setting up a 1:1 to discuss.

Specific Marketing Efforts:

Especially if you are paying for them, make sure you know if they are working! Consider tracking things like reach, engagement (open/clicks), and ROI (return on investment).

Emotional Metrics to Consider:

How do I feel in my business?

Am I having fun?

Am I making the impact I want to?

Is my income where I want it to be?

Am I authentically showing up in my biz?

These things are important because if you slip into a negative, stressed headspace, that energy can show up in your business and your audience can feel that.

I really recommend not spending money on your marketing until you have a really solid, concrete business plan that you know will work. If you don't have a plan yet, consider my upcoming Masterclass on how to build your business without spending money!

Say goodbye to feeling overwhelmed by marketing, spending all day figuring out what to post or write to market your business, and spending tons of money without real results.



Say hello to an easy-to-follow system to make money and grow your biz. DM me to join the waitlist and get special pricing!