Which marketing metrics should a small business track?

Best for

Business owners, freelancers, and anyone learning the fundamentals of sales, marketing, and running a business.

Use this when

Read it when the question comes up, or work through a whole section to fill gaps in the basics.

Preview

Answer

Five numbers, tracked monthly, will tell you almost everything:

1. Leads — how many inquiries, and from which source.
2. Conversion rate — leads that became customers, as a percentage.
3. Average sale value — total revenue divided by number of sales.
4. Cost per lead — total marketing spend divided by leads.
5. Cost per customer, by channel — the number that actually changes decisions.

Followers, impressions, and website visits are worth glancing at, but they do not pay anyone's wages. A channel with modest traffic and a low cost per customer beats a channel with impressive traffic and none.

The habit that makes all of this possible is asking every single inquiry how they heard about you, and writing the answer down. Without that, you are guessing.

The Marketing KPI Tracker sets out the formulas.

The rest of this resource is for members

Members get the complete Which marketing metrics should a small business track?, one-click copy, saved favorites, and every other resource in the library for $149 per month.

Start Your Membership See free resources

One-click copy unlocks with membership

This resource is general educational information, not legal, financial, tax, or HR advice. Review anything you send or publish against the rules that apply to your industry and location, and consult a qualified professional when the stakes are high.

Related resources

Back to the library