When you hire a marketing agency in Sydney, you will be itching to dive in. It is the right time to maximise your public relations and advertising money and build brand equity. However, what most people fail to understand is that it will take some time for the agency to start delivering results. If you want to maximise your return on investment, read on.
Your current marketing mix
It is essential to tell your marketing agency about the aspects of marketing you are tackling and what you wish to accomplish. After talking through the approach you are currently using, your marketing agency will identify loopholes in what you are doing and help you explore other essential areas. For example, maybe you produce a lot of articles but videos would be better for your company to target some audiences. You might think that you know what you want but the information will allow the marketing company to determine if what you want to achieve is what you need.
Your team
If you want to execute the new plan for your marketing agency, you should have the bandwidth. You should examine your team to help you optimise both agency talents and internal talents. By smoothing out your internal processes from the beginning, you will not have to backtrack and fix stopgaps and other challenges.
Overall site analytics
If you want your marketing agency to know what to look for, you should share your current rates of conversion. You should know the total number of sales coming from Twitter, Facebook, YouTube and other platforms. You should ensure you can understand the details of where you are getting your business.
It is easier to get the metrics in one place than you think. You should start by creating a Google Analytics account and adding your website as a property. Google Analytics will help you measure your customer acquisition, revenue, engagement and inquiry.
Monthly Revenue
Even if your business income varies throughout the year, it is essential to organise the information based on revenue and share it with your marketing company. It can help the company understand the size of your business and help you achieve your goals.
The lifetime value of customers
If you want to estimate the lifetime value of your customers, you should multiply the average value of sales by the total number of repeat transactions. You should then multiply the total by the customer retention time. Once your marketing company understands how much you are making from each client, it can determine the potential of your business and optimise the amount you are spending to help you acquire each of them.
For example, if you are making ten dollars more than the average lifetime of a client – converting less than twenty percent of your traffic into sales will bring trouble. Sharing the information would show the marketing agency in Sydney that, whilst you are paying a similar amount for clicks as your competitors, you are not seeing more return on it. This will help you recalibrate your budget to your needs.