Keep tabs on marketing automation performance
Are you getting the most from your dealership’s marketing automation efforts? If you’re not measuring performance, you’ll never know. A few easy to understand and (usually) readily available metrics can help you keep tabs, says Smart Insights blogger Luda Greko. But she warns that before you begin, you should account for any problems that might skew results, These include:
- • Poor segmentation;
- • Your current win rate and if it’s acceptable;
- • The level and scope of your content arsenal;
- • Sales and marketing alignment; and
- • The reliability of your marketing automation software and the data it generates.
When you’ve eliminated any pitfalls that could make results less- or non-relevant, you’re ready to measure.
First you need to check that your automation software is being used — and being used correctly. There should be enough activity that sample sizes are large enough to yield statistically valid measurements.
Some key activity metrics include:
- • The overall volume of emails you send out to potential and existing clients;
- • The number and diversity of automation workflows you have created and for which stage of the customer journey;
- • The optimal level of activity per workflow; and
- • The activity level for each of your segments.
Engagement and performance metrics
Each of these should be measured on an automation level, and on a segment level, where applicable:
- • Opening rates;
- • Click Through Rates (CTR);
- • Site Traffic; and
- • Conversion and reconversion rates at different stages of your marketing funnel.
Return on investment metrics
- • The percentage growth in revenues, pre-and post-automation.
When you use the metrics listed here, you’ll find that A/B testing between various automation options will become easier and yield more accurate results.
The full blog post gives more details on each of the metrics, along with links to research and resources that can take you further along the path to marketing automation performance at your dealership. Find it here.