Believe it or not, your teacher was right when they said math is everywhere. Though not always the quadratic formula or some chemical equation. For marketers, math backs up what we say, and informs what we do.
Using creativity is an element that rarely goes overlooked, but math can be forgotten easily. Getting in early with a product launch or trend will put you and your clients in a strategic position to succeed.
I know you all hear me preach, know your numbers! Your numbers should be influencing every aspect of your marketing strategy. Without them, we are shooting in the dark. You may find success that way, but you won’t find consistent success, and that’s what we are always looking for. Consistency can make or break your business.
This also means knowing how many people are in your sales funnel, as well as what stage they are at while in it.
The sales funnel that all buyers go through is where much of this math takes shape. Where reach and impressions bring brand awareness. Engagement and clicks are for those considering a sale. Learning where customers are in your funnel, and how they behave in it is all the difference.
The further along they move in the funnel, the more likely it is they form a bond with the brand. These are loyal and repeat customers.
On the financial side, there are many ways profitability is determined and how efficient those profits were.
- Cost per Click
- Cost per Acquisition
- Return on Investment
- Return on Ad Spend
- and more
Learning from clicks and cost per click gives a great insight into how your creative is resonating with the audience. The click-through rate is a deeper dive into if that cost per click is worth it or not.
Overall, math might be our greatest tool in marketing. Know your numbers and I promise you, you will know your business better. In fact, if you’re interested take a look at my Ads Readiness Checklist! Use it to help break down your numbers to see if your business is ready for paid ad support. Which can truly change your numbers game even as we deal with a “not-so-great” economy.