Measuring the effectiveness of your conversational marketing campaign is as important as implementing it in the first place. You’ll need centralized data collection tools or tools that can integrate data.
The metrics that will be important to you will, naturally, depend on your business goals. You’ll want to think about the product/offer and intent of each audience group.
As an example, if you’re running a live streaming educational broadcast on one of your pages, you might look at the number of views-to-lead-captures since it was a research point for the buyer.
But a lead capture tool running on a pricing or product configuration page should be measured in views to sales (or test drives, if you remember our earlier example).
You should figure out how long your sales cycle is for qualified leads that come in from your conversational marketing solution and for those that come from your forms or other pages without marketing assistance. This will give you a good indicator of dollar value—and will benefit your bottom line at the end of the month.
You also shouldn’t discount customer satisfaction.
You can look at your Net Promotor Score (NPS) for that. It’s that question “How likely are you to recommend our company to a friend?”
You get a score between 1 and 10 and what makes a good NPS score can be different depending on your region and your industry.
If you’re getting low scores, however, your customer experience ought to be a priority for you. It’s always a good idea to measure the general trend of your NPS and a conversational marketing solution ought to increase that over time.
Think about the visitor to engagement ratio instead of thinking of engagement as a vanity metric.
This ratio will help show whether your conversation starter is working—and it will give you an idea of how many visitors are interested in talking with your staff.
Finally, the combination of all the above means your customer acquisition cost should be reduced over time (all other qualifications being equal).
Your conversational marketing solution will automate the qualification process and let those who just want to buy to do exactly that without any fuss. And over time, this will give you a much lower customer acquisition cost, while continuing to increase sales.