Marketing · Lesson 6
Tracking conversion and return
Measure which activities bring paying clients, then do more of those.
Without measurement, marketing becomes guesswork. You only need a few numbers. For each new enquiry, record its source (referral, website, event, LinkedIn, partner). Then track how many enquiries become proposals, and how many proposals become clients.
From this you can see conversion rates and the value won by each source. Compare that with what each costs — in money and your time. An event that costs ₦2m and brings one ₦15m client is a good return. Daily social posts that bring no enquiries in six months may need rethinking.
Review your numbers every quarter. Keep what works, fix or drop what doesn't, and try one new activity at a time so you can tell what made the difference.
Example — Hypothetical: a quarterly review
In three months: 12 enquiries — 7 from referrals (4 won), 3 from LinkedIn (1 won), 2 from an expo (0 won, ₦3m cost). Decision: invest more in referral partners, keep LinkedIn, skip next year's expo.
Try this
For your last ten clients, write down where each one first came from. Which source is strongest?
Reflect
Which marketing activity do you spend time on without knowing if it brings clients?