5 Marketing Metrics Every SME Should Track (And How to Set Them Up Without an Analyst)

Introduction

Many SMEs make marketing decisions based on gut feeling. “That campaign felt good”, or “We got a few more calls this month.” The problem with this is, without clear metrics, you don’t know exactly what’s working, or worse, where you’re wasting money.

But you can change this. You don’t need a dedicated analyst or expensive software to track the numbers that matter. In fact, with just five simple metrics (and free tools), you can measure marketing performance, uncover bottlenecks, and make smarter decisions that fuel growth.

Here’s how.

Metric 1: Website Traffic (Awareness)

What it tells you: How many people are visiting your website, and where they’re coming from.

Why it matters for SMEs: Your website is often the first touchpoint with potential customers. Tracking website traffic shows if your marketing is bringing people in.

How to set it up:

1. Install Google Analytics (GA4) on your site.

2. Go to Reports → Acquisition to see how people find you (search, social, paid ads, referrals).

3. Track organic traffic specifically. This shows how well your SEO is working.

Pro Tip: Don’t just look at traffic volume. Look at quality: which channels drive visitors who stay longer or visit multiple pages?

Metric 2: Conversion Rate (Effectiveness)

What it tells you: The percentage of visitors who take a desired action (e.g., fill a form, book a consultation, buy your product or service).

Why it matters for SMEs: 1,000 visitors mean nothing if none of them convert. Conversion rate measures how effective your site or campaigns are at turning interest into action.

How to set it up:

1. In GA4, set up Conversions (Goals in older Analytics). Examples:

   • Submitting a form

   • Booking a call

   • Completing checkout

2. Track conversions by source (e.g., are LinkedIn ads driving better leads than Facebook?).

Pro Tip: Aim for small improvements. Even a 1% increase in conversion rate can dramatically boost revenue without extra ad spend.

Metric 3: Cost Per Lead (Efficiency)

What it tells you: How much you’re spending to generate each lead.

Why it matters for SMEs: If leads cost more than they’re worth, you’re burning cash. This metric shows if campaigns are financially sustainable.

How to set it up:

1. Track ad spend (from Google Ads, Meta Ads, etc.).

2. Track leads generated (from your CRM or website forms).

3. Formula: Total Ad Spend ÷ Number of Leads.

Example: £500 ad spend ÷ 25 leads = £20 CPL.

Pro Tip: Use spreadsheets to calculate this monthly. Compare across channels. If Google Ads leads cost £15 and Facebook Ads leads cost £45, you know where to focus your budget.

Metric 4: Customer Acquisition Cost (CAC)

What it tells you: The total cost of getting a new customer.

Why it matters for SMEs: CAC shows if your business model is scalable. If it costs £300 to acquire a customer who only spends £200, you’re in trouble.

How to set it up:

1. Add marketing + sales costs for a period (ads, agencies, tools).

2. Divide by the number of new customers acquired in that period.

3. Formula: Total Marketing & Sales Spend ÷ New Customers.

Example: £2,000 spent ÷ 10 new customers = £200 CAC.

Pro Tip: Benchmark CAC against Customer Lifetime Value (CLV). A healthy ratio is at least 3:1 (customers should generate 3x what they cost to acquire).

Metric 5: Customer Lifetime Value (CLV)

What it tells you: The total revenue you can expect from a single customer over their relationship with your business.

Why it matters for SMEs: CLV helps you decide how much you can afford to spend on marketing and retention.

How to set it up:

1. Find average purchase value (e.g., £100).

2. Multiply by average purchase frequency per year (e.g., 4).

3. Multiply by average customer lifespan (e.g., 3 years).

4. Formula: Average Purchase Value × Purchase Frequency × Lifespan.

Example: £100 × 4 × 3 = £1,200 CLV.

Pro Tip: Improving CLV (through loyalty, upselling, better service) is often cheaper than acquiring new customers.

Pulling It All Together

These 5 metrics give SMEs a full view of marketing performance:

• Traffic = Are people finding us?

• Conversion Rate = Are they taking action?

• CPL = Are we getting leads at a sustainable cost?

• CAC = Are we acquiring customers profitably?

• CLV = Are we maximising long-term value?

Track these monthly in a simple Google Sheet or dashboard. Over time, patterns emerge, showing exactly what’s driving growth (and what’s draining resources).

If you are using a marketing agency

Make sure to ask for these metrics in your monthly reports. This shows if your agency is using your budget efficiently and delivering the best possible results for your business.

Conclusion

Marketing isn’t about chasing vanity metrics. It’s about knowing exactly what’s working, fixing what isn’t, and investing smarter. With these 5 metrics, your SME can take control of marketing and grow with confidence, no analyst required.

Want help setting up a simple but powerful marketing dashboard so you can track your metrics?

At Gold Leaf Consult, we have GA4-certified marketers who can design a tracking system that works for your business in just a few hours. Also, if you want to set your website up for success, we can design a highly functional website that helps you reach your growth targets. Contact us to start tracking those numbers.