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Not all marketing is equal and the numbers can prove it.
If you’ve already started tracking your marketing success and made sense of Google Analytics, the next step is digging into what the data actually means for your return on investment (ROI).
To clarify, here I’m talking about marketing activities that deliver a direct financial return. Ie, things you can directly link to leads, sales, or ongoing work. It’s about measuring where the money is coming from.
That said, not every valuable marketing activity leads straight to a dollar figure. Brand awareness and reputation-building are just as important, but they work differently.
These activities, like consistent social posting, thought leadership, or community involvement, help build trust, familiarity, and credibility. They usually show their return over a longer period and in less direct ways (think more referrals, easier sales conversations, or faster trust from new enquiries).
Both types of marketing matter. But if you're looking at the numbers to see what’s bringing in revenue right now, these are the marketing ROI metrics to track.
What is marketing ROI?
In this context, marketing ROI is the return you get on your marketing investment, measured in actual revenue or leads. It’s not about how visible you are or how many people saw your post. It’s about what came directly back to your business as a result.
So, we’re talking about the kind of ROI that shows up in your books: new enquiries, paying clients, or repeat business that can be traced back to your marketing activity.
It’s a practical way to assess whether your efforts are worth it financially, especially if you’re allocating budget, outsourcing parts of your marketing, or just want to focus on what’s delivering value.
And while this style of measuring your marketing ROI won’t capture every benefit of brand marketing (like trust or positioning), it’s a useful checkpoint to help you make better decisions, like where to spend, what to keep doing (or increase doing), and what to stop.
So what should you actually be measuring?
There are loads of metrics you could track. But here are the ones I recommend starting with if you want a simple, useful way to measure marketing ROI.
1. Lead generation
Are your marketing efforts bringing in new leads or enquiries? That could be through a contact form, phone calls, newsletter sign-ups, or even DMs.
Why it matters:
If no one’s reaching out, it doesn’t matter how many people saw your post or visited your website. Leads are a sign that your marketing is prompting action.
How to use it:
Track how many leads you get each month and where they came from. Then compare that to your marketing activity. If LinkedIn posts bring in 80% of your leads, but you’re spending most of your time on Facebook, it means you’re focusing on the wrong platform. While Facebook might be more ‘fun’, you need to focus on where your leads (your ideal clients) are.
2. Conversion rate
This is the percentage of people who take a specific action like booking a call, buying something, or downloading a resource.
Why it matters:
It tells you how effective your marketing is at getting people to say yes. It also helps you identify bottlenecks (for example, if lots of people visit your sales page but no one clicks through, something might need a tweak).
How to use it:
Look at the steps in your client journey. Where are people dropping off? Where are they converting well? Use that info to fine-tune your messaging, offers, or next steps.
3. Cost per lead (CPL)
How much are you spending to get each lead? This is especially helpful if you’re using paid ads.
Why it matters:
You might be getting leads but if they’re costing you more than they’re worth, that’s not a great return.
How to use it:
Divide your total advertising spend by the number of leads you’ve generated in that period. It doesn’t need to be exact, but it gives you a guide on whether your investment is sustainable.
4. Lifetime value (LTV)
What’s the average value of a client over time? Some clients might make one purchase. Others might work with you ongoing for years.
Why it matters:
LTV helps you work out what a good return looks like, especially if your services are high-value or ongoing. You might spend $500 to get one client, but if they stay with you for two years (or longer), it’s well worth it.
How to use it:
Take the average revenue you make per client and multiply it by how long they usually stick around. This helps you understand how much you can realistically spend on marketing to get a good return.
Quick example: a professional services firm
Let’s say you run a small HR consultancy. You’ve been posting content on LinkedIn, running a Google ad, and sending a monthly email newsletter.
You check your analytics and realise:
- Your email list is small, but it has a 40% open rate and generates 2–3 enquiries each month
- Your ad has brought in 12 leads, costing about $60 per lead
- LinkedIn hasn’t brought in many direct leads, but one recent post got you a call from a new client (who then signed up for a 12-month retainer)
All of these are useful insights. Not just for your ROI, but for how your ideal clients behave. You now know what’s worth continuing, what might need refining, and where to focus next quarter.
Use metrics to measure value, not just activity
The goal isn’t to become obsessed with numbers. It’s to use the data you already have to make informed decisions and avoid wasting time on marketing that doesn’t serve your business.
Once you know your key marketing ROI metrics, everything becomes clearer. You can plan better, spend smarter, and focus on what actually helps you grow.
And if you’re wondering what delivers the best return? It’s usually a mix.
The businesses that get the strongest results over time are the ones that combine brand and content marketing (to build trust and stay visible) with lead generation activities (to drive action and revenue). That’s where the magic happens… when your marketing doesn’t just get attention, it brings in business too.
And if you want help working out what that looks like for you, let’s talk. .
