FIND OUT WHY Companies Use OUR Marketing Software & Analysis
We are a measurements and metrics company, helping companies determine the ROMI of their marketing capital through thorough analysis of various marketing channels utilized. Our software is accessible online and provides important marketing metric & channel analysis.
The Advantages of the Mx3 Metrics system include:
- Easy to use marketing metrics software
- Customize your Customer Acquisition Funnel
- Add Measures for any type of Marketing Channel (digital and traditional)
- Ability to include financial data like Marketing Investments and Revenue
- Automatic calculation of important Metrics
- Ability to analyze the Measures and Metrics for each Marketing Channel
- Graphing of Key Trends
- Calculation of Return on Marketing Investment (ROMI) by Marketing Channel
Marketing Metrics & Channel Analysis
Details of our marketing analysis can be seen below:
Architecture
Channels and Funnel
We start by looking at the scope of your marketing campaigns. We identify each of the Marketing Channels that are being used and what the Investment (often called "costs") is made in each Channel.
Next we work with you to construct the Levels for your Customer Acquisition Funnel. Finally, we map the data sources for each Level of the Funnel and for each Channel. We call the data that we track, Measures.
The end result of this process is a complete mapping of your Marketing Data Architecture. You will have the following:
- Structure for your Customer Acquisition Funnel
- Complete list of Marketing Channels
- Investment amounts for each Channel
- Data sources for each Measure in the matrix
Software
Software License
Our online marketing software is accessible remotely. Once the Measures are entered, the software calculates all the key Metrics for each Channel. These include:
- Conversion Rates between each Funnel Level
- Average Costs per Funnel Level
- Return on Marketing Investment (ROMI)
Many of our customers use Mx3 Metrics on a subscription basis, either month-by-month or annually.
Measures and Metrics
Data input
Measures need to be added to the Mx3 marketing software, similar to bookkeepers adding data to a financial system.
Using the Marketing Data Architecture, we collect the Measures for each Level of the Funnel and for each Channel. This gives us data for your complete Marketing program - top to bottom.
Most marketing dashboards display raw data – what we call Measures. Measures are important but what is different about our system is that we add Metrics. Metrics are ratios, percentages, indexes and calculations.
outcomes
Improving ROMI
Our objective with each client is to improve the Outcomes for your Marketing Program.
Ultimately, we want to improve the ROMI. ROMI is calculated as Revenue minus Marketing Investment divided by the Marketing Investment.
We express the result of this calculation in dollars. For example, a ROMI of $10 is read as, "For every $1 that we invested in marketing, we received $10 in Revenue". The calculation would be: ($11,000 - $1,000) / $1,000.
By analysing the Measures and Metrics for each Level of the Customer Acquisition Funnel and each Marketing Channel we can determine changes that should be made.