Introduction
Marketing is the engine that drives growth for any organization, and for social enterprises, it’s no different. However, marketing is not just about creating engaging content or running compelling ads—it’s about tracking the right metrics to understand what’s working and what’s not. Measuring your marketing efforts effectively can help you optimize strategies, increase conversions, and ultimately drive growth.
In this article, we’ll explore the top 10 marketing metrics that every social enterprise should track to fuel their growth. Whether you’re running a small grassroots organization or a larger social impact company, these metrics will provide actionable insights to guide your marketing efforts and help you scale your impact.
1. Customer Acquisition Cost (CAC)
Customer Acquisition Cost (CAC) is one of the most critical metrics to track, as it tells you how much you’re spending to acquire a new customer. By understanding your CAC, you can assess the efficiency of your marketing campaigns and make data-driven decisions to reduce costs.
Formula:
CAC = Total Marketing Costs / Number of New Customers Acquired
2. Customer Lifetime Value (CLV)
Customer Lifetime Value (CLV) measures the total revenue a customer is expected to generate during their relationship with your organization. Tracking CLV helps you understand the long-term value of acquiring a customer and informs your marketing investment decisions.
Formula:
CLV = Average Purchase Value x Number of Purchases x Customer Lifespan
(The rest of this article would continue by outlining other crucial marketing metrics, from conversion rates to website traffic insights. Let me know if you’d like to explore more details!)