The smart business people ask me this question. They are focused on results and measuring the Return on Investment rather than simply the cost of marketing.
The first step is to determine the Lifetime Value of a Customer. If you know that figure you can calculate the cost you can afford to pay to get a new customer and make the profit require to run your business. Determining the best way to measure the success of marketing then becomes clearer. How to set up tracking metrics that tell you the numbers you need to know is more straight forward.
If you want to know how to measure and improve all your marketing & sales results…