- Get more roofing jobs, because these lead to more jobs down the line, and move away from advertising that we do windows.
- Scale up the number of window jobs we get, because we're only going to get serious profit through volume
- Move the needle on follow-up work from window jobs, by looking into customer nurturing campaigns after we finish all our window jobs
3. Cost of Goods Sold (CoGS)
Cost of Goods Sold represents your hard and soft costs for selling whatever it is that you sell. Everything on your balance sheet that goes into producing, marketing, and selling your product should go into this metric.
CoGS = Materials + Labor + Marketing + Sales + Shipping + ...
But why track CoGS? Its a helpful metric to have around, and gives you a measure on your bottom line. It helps keep your idea of your margins in check, and shows where you can be a little leaner if necessary. And most importantly, it makes calculating your LTV and ROI that much easier. In most cases, the easiest way to get to your Profit for LTV and ROI calculations would be to subtract CoGS from your Revenue, and this will keep you honest from one month to the next.
What are some of the metrics that you use to track your marketing success?