How to Measure the Success of a Marketing Strategy?
To evaluate the effectiveness of your marketing strategy, track the following metrics:
- Customer Acquisition Cost (CAC): The cost of acquiring a new customer. - Customer Lifetime Value (CLV): The total revenue expected from a customer over their relationship with your business. - Conversion Rate: The percentage of visitors who take a desired action, such as making a purchase or signing up for a newsletter. - Return on Investment (ROI): The profitability of your marketing activities. - Engagement Metrics: Likes, shares, comments, and other interactions on social media and other platforms.