How to Use Both Visit-to-Lead Ratio and Lead-to-Customer Ratio (Part 3)
Ceteris paribus — a latin phrase that means “all other things being equal” — is a phrase used by economists.
In this 3-part video series, I shared how to use the baseline metrics to set your digital marketing targets. But they only hold true if all other things remain constant, meaning, nothing else changes.
But that rarely happens.
Preferences, behaviors, inflation, new competitors, and many more factors are always at play.
And we can’t control them.
At the end of the day, the only thing we can do as marketers is to use the baseline data we have as starting points. Then, using your best judgment and business direction, make necessary changes to the targets.
For example, if you’re planning a major campaign in Q1 next year that involves paid advertising, your baseline metrics won’t hold true since in the past, you haven’t used any ads.
Use this simple formula to get started. Improve your conversion rates. Increase the amount your customers order from you and increase their buying frequency, you’ll have to worry less about getting new visits or leads.
About the Author
Ariel Lim is a Management Consultant that has helped more than a dozen companies across the globe increase their website traffic, generate leads, and increase revenues. Together, he works with small business owners formulate strategies, implement campaigns, and measure performance.