Getting the Right Data
There is no set formula for calculating goal ROMS. Every industry and business has potential hidden within the flywheel. In order for performance marketing to drive growth, you must collect and test the right data. This checklist begins the process of gathering data for your unique business growth.
Profitability is the responsibility of all business leaders. Marketing leaders must align their strategy with accurate data. Simply looking at leads, impressions, followers, organic traffic and number of calls may satisfy vanity metrics.
Performance marketing requires asking hard questions and extracting meaningful data to transform key performance indicators (KPIs) and return on marketing spend (ROMS) into profitability.
The goal of Math Before Marketing is not to reach a “high” return on marketing spend. High returns with slow growth mean something is out of place. Returning to the flywheel method, performance marketing delivers energy to the flywheel but good businesses have stored potential in sales and operations.
In Here We Grow, Marcia Barnes recommends, “Create the ideal business financial model for your set of conditions and then analyze different variables to understand your forecasted results.” After more than twenty years, Marcia and her colleagues continue to discover nuances that reverberate into profits across different industries.
Free Marketing Assessment
Marcia Barnes founded Valve+Meter Performance Marketing with the vision to 10x the value of 100 businesses. If reading Here We Grow has inspired you to release the flywheel in your business, our team is ready to hear about the results you need in order to drive transformational growth. Request your free marketing analysis today!