Small business sales and marketing expenses can quickly pile up – especially when you’re trying to just copy the magic formula other business owners have used without a clear sense of direction. It’s hard to know what’s really an effective use of your money. These metrics will help you find the keys to successful marketing for your business. It’s not about copying someone else’s process, it’s about finding your own.
Your Ultimate Guide to Small Business Money Management
Small business money management is probably not a phrase that gets you excited to jump out of bed every morning. But, your small business – and the dream it represents – won’t last long if you don’t buckle down and manage the heck out of it. This is your ultimate guide to small business money management, so you can stop avoiding this gross, uncomfortable topic and start growing your business with confidence.
Discover the Keys to Successful Marketing in Your Business 🥳
Do you sometimes feel like you are shouting into the social media void with your marketing, hoping for some viral traction?
Have you been endlessly searching for the keys to effective marketing?
How do you know any of this is working?
It’s a noisy world out there and breaking through isn’t easy.
It can be tempting to just throw money at the problem, paying for expensive social media advertising campaigns.
Those campaigns might work for big Silicon Valley startups with cash to burn and plenty of in-house marketing expertise.
But, if you are a small business owner with limited resources and capacity – you need to be more protective of your marketing budget.
Cash, after all, is too precious to burn so easily.
| RELATED: How to Manage Business Finances & Avoid These Big 5 Costly Mistakes
So, how can you ensure that your marketing investments yield a return?
Well, the first step is to let go of the idea that you need to scour the internet for the perfect playbook to copy and implement in your own business.
Instead, the keys to successful marketing – or running any part of your business – have to be discovered through continuous improvement.
It’s in the refinement of your approach – the process of learning, tinkering, and improving – where you’ll find out what works and what doesn’t.
That, of course, requires:
- Curiosity about what you uncover.
- Experimentation to tinker and try something new.
- A mindset that’s willing to accept progress over perfection.
| 1:1 Coaching: these are all skills we can work on together.
From here, pick a few metrics and commit to monitoring and measuring them over time, experimenting with ways to improve your results.
By the way, this is easier to do if you have the proper Control Systems in place to monitor, measure, and improve what you’re doing.
| RELATED: How to Find the Keys to a Successful Business with these 8 Critical Steps
With these ideas in mind, here are three metrics that will help you uncover the keys to successful marketing: Brand Affinity, Cost to Acquire Customers, & Customer Growth.
Brand Affinity
How your customers perceive your brand & business.
Cost to Acquire Customers
The efficiency of your marketing activities.
Customer Growth
The number & composition of your buyers.
Reflect on the Health of your Marketing Metrics Today 😅
As you learn about each metric, you’ll have an opportunity to pause and reflect on the health of your marketing investments today, using a simple 4-point scale (4 being the strongest).
Keep in mind, there’s no “correct” answer.
It’s just an exercise to build some self-awareness and get you thinking.
It’s also not about being a “4” all the time. You’ll have moments that feel like 4s and moments that feel more like a 1.
And, you’re not alone there – for some aspects of my marketing I feel like a 4, but I’m often a 3 or even a 2 on some days depending on the other priorities I’m juggling.
Fluctuating is normal and expected when you’re trying something new.
If you’re not happy with where you’re at today, pause to get curious:
- What have you already tried?
- What could you start, stop, or continue?
- What experiments could you run to try and move the needle?
You might also benefit from a simple financial health check-up – with my FREE Business Financial Health Checklist, of course.
| FREE CHECKLIST: You Absolutely Need This Simple Business Financial Health Checklist
Remember, starting and growing a business is not a straight line – you should expect your marketing efforts to be the same.
Just try something, learn from the result, and commit to improving in your next attempt.
Marketing Metric 01: Brand Affinity 😍
One of the keys to effective marketing is Brand Affinity.
What is Brand Affinity?
Brand Affinity is about how your customers perceive your brand – specifically, if they feel an emotional connection to what it represents. And, if they do, to what extent will that connection translate into loyalty and strong purchase behavior.
Watch this metric to discover the keys to successful marketing. Ask:
- Do customers love it?
- Are they loyal to it?
- How likely are they to buy it?
How Do You Measure Marketing Success with Brand Affinity?
There are certainly helpful quantitative methods to measure this metric, like surveys and tracking a Net Promoter Score.
But, at the beginning of your small business journey, that might be overkill. Instead, I’d suggest a more qualitative approach for now.
You might ask customers to provide feedback after their purchase or conduct a small focus group with a few customers, asking them about their experience with your brand and business.
Feedback isn’t always easy to hear, but it is essential.
How To Make Your Business More Successful? Consider Questions Like…
- How would you describe your brand? How do your customers describe your brand?
- Is there a gap? How aligned or different is what they shared from your vision?
- What’s the business impact of misalignment?
- How many existing customers become repeat customers? How many customers buy once and then walk away?
- What might be required to either adjust the brand to meet their needs or educate customers about the brand?
What does Brand Affinity look like for you today?
Consider the options below, then select the statement that best aligns with your reality. Tap or hover your cursor over each card to reveal more information.
4
My core customers describe my brand in a way that’s consistent with my brand vision, so much so that I’ve been able to build love and loyalty. I regularly ask my customers for feedback, so that I know what to continue, change, or reinforce.
You’ve got this!
That’s great. Remember too, that business is rarely constant and customer needs can shift. Continue to check-in and see how their needs evolve – and if the brand needs to evolve with them to stay relevant.
3
My core customers don’t always describe my brand in a way that’s consistent with my vision, but it’s exciting when they do. I ask for feedback, but I’m not always getting insights that feel action-oriented.
You’re getting there!
Small steps add up and it matters that you’re asking at all. Try changing up your questions or approach. What have you tried? What might you need to rethink? Side note: I love focus groups, so if you need a thought-partner, let’s talk!
2
My core consumers rarely describe my brand in a way that’s consistent with my brand vision. I don’t always ask for feedback because I don’t like what I hear.
You’ve got some work to do.
No worries, we all do. But, avoiding it isn’t getting you anywhere. Think back to why you started this business and remind yourself that your dream is worth pursuing, even if it’s going to be a little uncomfortable to get there.
1
I don’t know how my customers currently perceive my brand and I’ve never asked them for their feedback, but I’d like to start. Also, you keep saying “core” customers, what’s that?
You’re getting started.
It is okay to be exactly where you are. Be patient with yourself as you figure this whole thing out! And, great news, the ideas in this article – and everything else from 321 Liftoff is here to support you as you explore further.
No matter where you are in your journey, take it one step – one experiment – at a time. Remember, the keys to successful marketing in your business need to be uncovered.
Marketing Metric 02: Cost to Acquire Customers 💰
Cost to Acquire Customers is another one of the keys to effective marketing.
What is Cost to Acquire Customers?
Cost to Acquire Customers (CAC) is about the efficiency of your marketing activities – specifically, helping you ensure any marketing spend is paying off.
Watch this metric to discover the keys to successful marketing. Ask:
- How much are we spending to reach potential customers?
- How effectively are we converting them into buyers?
How Do You Measure Marketing Success with CAC?
For example, if you spend $100 on marketing expenses and acquire 100 new customers in the same period, your CAC is $1.00. That’s pretty efficient!
That might indicate your marketing dollars were used wisely.
Conversely, if $100 in marketing expenses yields only 1 customer, your CAC is $100. That’s pretty expensive!
That might trigger you to adjust your approach and reallocate your marketing budget.
Try asking customers who have made a purchase how they found you – then keep track over time to determine how many customers were gained via a particular marketing channel.
Divide any marketing spend for that channel by the number of customers and you’ll get your CAC. From here, simply consider which channels get you the biggest bang for your buck.
How To Make Your Business More Successful? Consider Questions Like…
- What marketing channels do you use?
- How are your customers hearing about you? How many new customers/clients cite the marketing channels you use as how they found out about you?
- How efficient is your Cost to Acquire Customers (CAC)?
What does Cost to Acquire Customers (CAC) look like for you today?
Consider the options below, then select the statement that best aligns with your reality. Tap or hover your cursor over each card to reveal more information.
4
My marketing spend has a proven return on investment (ROI) and it’s becoming more efficient as I learn how to better target my core customer. I keep track of every marketing expense and ask my customers how they found me, so that I can make decisions about where to invest or pull back.
You’ve got this!
That’s great. Remember too, that business is rarely constant. Continue to track the relative productivity of your marketing channels. And, don’t forget to watch for new trends and new platforms as well.
3
My marketing efforts sometimes translate into sales, but not consistently. I keep track of my marketing expenses and ask my customers how they found me, but I’m not hearing consistent themes that I can reliably act on.
You’re getting there!
Small steps add up – keep tracking. You might also consider the content or quality of your marketing messages. How strong or effective are they? How do they differentiate you in a crowded marketplace?
2
My marketing efforts rarely translate into sales. I don’t always keep track of my marketing expenses, but I’m guessing my CAC would be pretty inefficient.
You’ve got some work to do.
No worries, we all do. Consistency is essential to uncovering the keys to effective marketing. Start by asking every customer how they found you and track that data over time.
1
I’m not currently keeping track of marketing expenses or the efficiency of those dollars in converting followers to customers.
You’re getting started.
It is okay to be exactly where you are. Be patient with yourself as you figure this whole thing out! And, great news, the 321 Liftoff blog is here to help you explore further.
This is how to increase small business profits – not by throwing more marketing dollars at the problem, but by making sure every dollar is used effectively.
It’s not easy, but it is essential. And, that’s one of the reasons why I created my Small Business Money Management Email Course – to help you tackle common financial growing pains uncovered while growing a business.
| EMAIL COURSES: 4 Amazingly Simple Email Courses For Small Business Owners
Marketing Metric 03: Customer Growth 🎉
Finally, the last of the three keys to successful marketing is Customer Growth.
What is Customer Growth?
Customer Growth is concerned with, as you might guess, a growing customer base. It’s about the number of customers who buy and how that population of buyers might be changing over time – both in their composition and their behavior. Critically, this is actual buyers, not followers.
Watch this metric to discover the keys to successful marketing. Ask:
- Is my customer base growing?
- Are they who I expected? If not, who are they?
- Do I know where/who my sales are coming from?
How Do You Measure Marketing Success with Customer Growth?
Once again, it helps to ask your customers how they found you and keep track of how they found you over time (yes, the same step referenced above for CAC).
And, you can take that one step further by asking them to tell you more about themselves – who they are, what they value, how they would describe their lifestyle or their values.
You might, for example, capture their email at time of purchase and send them a brief survey with a few questions.
The idea is to go beyond the volume/number of customers and start to understand the composition of them.
That way, you can improve your marketing messages in a way that speaks to them – and people like them – more directly.
Like with CAC, if you notice that people seem to find you via a mailer or from Instagram, you might start directing more of your marketing efforts there.
Thinking through the lens of Customer Growth, you might also refine the messages in those specific channels.
How To Make Your Business More Successful? Consider Questions Like…
- How many new customers are coming in on average every month? If you were to plot your customer growth over time, what peaks and valleys would you see? What accounts for that? Are a lot of them new or repeat customers?
- Where are your customers coming from? Who are they? What do they value? How might you refine your marketing messages based on that data?
What does Customer Growth look like for you today?
Consider the options below, then select the statement that best aligns with your reality. Tap or hover your cursor over each card to reveal more information.
4
My customer base is growing steadily and it’s a healthy mix of new and repeat customers. I keep track of every customer to see where they came from and I try to learn more about their needs, so I can sharpen my marketing messages.
You’ve got this!
That’s great. Remember too, that business is rarely constant. As your customer base grows and your mix changes, you’ll need to continue doing the work. There’s no finish line you’ll arrive at – you’re never fully done.
3
My customer base has been growing inconsistently. I know that I’ve had a mix of new and repeat buyers, but I’m not sure how they found me and I haven’t followed up with them to learn anything more after the sale is complete.
You’re getting there!
Small steps add up, so start by just asking them questions. Learn as much as you can about them and what they value. Tracking this data over time will help you build a strong theory of the case.
2
My customer base is flat or declining. I don’t know the mix of my customers either – I’m so excited to have a sale that I’m forgetting to ask.
You’ve got some work to do.
No worries, we all do. Some of the biggest brands in the world today started slow too. Get in the habit of talking to customers about more than the weather – learn as much as you can about who they are and what they value.
1
I’m not currently keeping track of how my customer base is changing over time, but I’d like to start.
You’re getting started.
It is okay to be exactly where you are. Be patient with yourself as you figure this whole thing out! And, great news, the 321 Liftoff blog is here to help as you explore further!
So, what might you experiment with from here? The keys to successful marketing in your business are waiting to be discovered.
Uncover the Keys to Successful Marketing – Start Here 🤓
You can learn how to make your business more successful by using these metrics as entry points.
You’ll need to run some experiments, see what works, and adjust. It’s more than random trial and error. It’s about discovery in a specific direction.
That takes patience and a growth mindset – it takes learning your way forward.
Remember, copying someone else’s process is only going to get you so far. By all means start there to give yourself a shortcut, but after a while, don’t be surprised if copying has diminishing returns.
Instead, know that the keys to successful marketing are revealed through a process of refinement, getting better and better with every attempt.
And, to help you accelerate that refinement, take a look at my workbook to learn essential entrepreneurial skills and habits and become even more effective.
| WORKBOOK: How to Run a Business Successfully with These 3 Essential Entrepreneurial Skills
Take a moment to pause & reflect.
- Which of these metrics excite or challenge you? And, what’s behind that?
- What have you done already to discover the keys to successful marketing in your business? What do you want to start, stop, or continue?
Actions, experiments, and things to try next.
Calculate these metrics. Gather the data, do the math, monitor them over time, and analyze the results. What trends or patterns do you notice? What decisions do you need to make? Are you using your marketing dollars effectively?
Name some experiments. What will you set in motion to improve the health of your marketing investments? Remember, the keys to successful marketing in your business need to be discovered through trial and error – through refinement over time. Brainstorm a few new things to try next.
additional tools, links, & downloads.
Start here:
- READ: 7 Simple Steps You Need To Create A Brand Strategy You’ll Love | 321 Liftoff blog
- READ: To Get More Out of Social Media, Think Like an Anthropologist | HBR
You might also like:
Make a commitment.
Hopefully, you’re leaving with several ideas of what to try next. So, take a moment to aim your effort.
- What’s one thing you’d like to do differently after reading this article?
- What commitment are you willing to make in service of your growth?
- How will you hold yourself accountable?
Questions, comments, or ideas for the blog? Sound off in the comments!
Join the conversation.
How do you measure marketing success today? What are the keys to effective marketing for your business?
What ideas or questions does this spark for you? Share some of your reflections in the comments or send me a message.
Starting and growing a business is not a straight line.
It can feel messy – it zigs and zags, it starts and stops. It can feel frustrating even for the most seasoned business owners. And, that’s ok.
It’s also an exciting challenge. It’s going to stretch you. You’re going to learn a lot – not just about business, but about yourself.
And, that’s why it’s worth it.
TAKE THE SPIN OUT OF STARTUP 😵💫🤩
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captivating! 54 2025 How to Manage Business Money Starts with the Difference Between Sales & Profit kind