Topics covered:Why you should measure your marketing - Measuring what you're doing is important because if you don't, you don't know what is working and what isn't. And that means you're probably wasting loads of time and money on marketing that isn't working!How to set up a reporting system - One of the first things I do when I start working with a new client is to help them set up their reporting to make sure they have a proper reporting process in place. We create a spreadsheet with all the strategies and tactics and decide how we're going to measure each one. Every month a report gets filled in, and we talk about it at our monthly review meetings. Or, if they are running their own quarterly review meetings with the board, for example, they've got all the relevant information in there. What will become really obvious is that if you're spending money on something that's not working, you'll know that either you need to tweak, massively reduce your spending, or totally stop that activity altogether.Understanding the numbers - The key to marketing is to always test. You're always looking at what's working and thinking about how you can improve what you're doing.The numbers you should check - Spend on marketing, and how many leads and customers you get from that;  the cost to get you a lead; the cost to get you a customer; conversion rates; the return on investment.What is Customer Lifetime Value - Another metric I love is Customer Lifetime Value (or CLV). And I'm always surprised by how many of the bigger businesses I've worked with don't use this as a metric. But don't worry - I've introduced it to them! And if you want to find out more, I've written a blog post here on customer lifetime value is so important.If you want more information, I've also written a blog post on 7 ways to increase your customer lifetime value. And another one that is relevant to this topic on six key marketing metrics. More about me:If you're not already measuring your marketing, then make sure this is one of your priorities in 2020! You can start with a spreadsheet by listing all the things you're spending money on and have a column that shows how many customers you got from that activity, how many leads, what it cost you to acquire that lead or that customer, etc. And then you can look at the return on investment.Do let me know how you get on with measuring your marketing and what insights you get. And if you need some help, check out my Work With Me page. You can book a FREE 30-minute discovery call with me. We'll discuss the challenges you’re facing, and talk about how I can help you grow your business.

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