The Other-Side-Of-The-Moon Funnel and measuring marketing activities ROI
In some cases you can’t use sales and revenue to measure up your marketing ROI. What should you use instead?
You are planning to spend $1K on high-quality content as a part of your marketing strategy (let’s say to create 5 video recipes with the ingredients you sell ). Don’t use sales as a metric to measure the ROI. Here’s why.
We are reluctant to move beyond Google ads
Metrics we use in marketing is a very important yet rarely discussed topic. Every marketer wants to feel that whatever they do impacts sales and overall revenue. They want to feel that they contribute to the overall success of the business (that’s your natural human desire to create value, nothing wrong with this). And because overall business success is measured in revenue and its growth, as marketers we have no choice but to try to connect all our activities to the end result.
If you are a solo foundrr the urge to establish this connection is even stronger: you’re spending your own money after all! And it should not come as a surprise that you want to spend your funds in the most efficient way. The questions you most probably would love to find answers for before you decide to spend anything at all:
- I spent $500 on Google ads — how many sales did I get from those?
- I payed someone to roast my landing page and redesigned it based on their recommendations — how many signups came as a result?
And yay! — with more or less decent analytics tool you will find answers to there questions. The problem is — there are so many other marketing activities where results are much less trackable. If you are not ready to embrace the idea of unpredictable and untrackable results it will limit you to a very small number of activities. In other words, you will have to stick with Google ads and page redesigns forever. All other amazing and creative strategies should be left behind because the impact they have on the revenue is absolutely untraceable.
You can think of it as a “The other-side-of-the-Moon Funnel” — it’s completely hidden…