Here's just a few reasons why:

Performance Evaluation: Understanding your numbers allows you to evaluate the performance. Metrics like engagement rate, click-through rate, conversion rate, and reach provide insights into how well your content is resonating with your audience, allowing you to go forward with more strategy.

Data-Driven Decision Making: Knowing your numbers enables you to make informed decisions based on data rather than assumptions or guesswork. This helps you allocate resources effectively, prioritize initiatives, and optimize your marketing efforts for better results.

Budget Optimization: By analysing your numbers, you can identify areas of inefficiency or high ROI opportunities within your marketing budget. This allows you to reallocate resources to channels or tactics that generate the highest returns and eliminate or adjust underperforming strategies.

Audience Insights: Understanding your numbers provides valuable insights into your target audience's behaviour, preferences, and needs. This knowledge allows you to tailor your marketing messages, products, and services to better meet the needs of your customers, improving engagement and loyalty.

Competitive Analysis: Monitoring your numbers enables you to benchmark your performance against competitors and industry standards. By comparing metrics such as market share, customer acquisition costs, and brand sentiment, you can identify areas where you excel or lag behind competitors and adjust your strategies accordingly.

Goal Setting and Progress Tracking: Knowing your numbers helps you set clear, measurable goals for your marketing initiatives. By tracking progress against these goals, you can gauge the effectiveness of your strategies, identify areas for improvement, and make adjustments as needed to stay on track.

Risk Management: Understanding your numbers allows you to identify potential risks and challenges in your marketing efforts before they escalate. By monitoring key metrics and market trends, you can proactively address issues, adapt to changes, and mitigate risks to your business's growth and success.

In summary, knowing your numbers in marketing empowers you to make data-driven decisions, optimize performance, understand your audience, stay competitive, and achieve your business goals more effectively.

Our secret sauce is strategy, numbers are part of that strategy!

Ready to get more from your marketing in 2024? Let's start a conversation.

About the Author of this blog:

Maddie Riehl

Founder and Director of Hey Marketing. Maddie has a passion for all things digital marketing.

She began her career in marketing in 2013. From there she completed a Cert IV in marketing and further developed her skills and knowledge base.

After seeing some flaws in other agency offerings, Maddie wanted to create a marketing agency where things are done a little differently - and so Hey Marketing was born!