Marketing metrics are the ultimate way to analyse the results of your marketing goals and prove to your manager that the effort you and your team put into a campaign or project is worth time and money. Many marketing operations use basic metrics such as leads, sales volume and site traffic to measure their effectiveness. It is important to cover these metric, but if you fail to address what is really important, you are missing important insights into your marketing plan and valuable opportunities for improvement. Use these 15 advanced marketing metrics to consolidate your campaigns, convert more customers and improve your marketing ROI. Many companies track the success of marketing campaigns and the leads they receive.
Marketing metrics are a set of guidelines that help you guide your marketing efforts and measure overall performance. These metrics have a measurable value that the marketing team can use to demonstrate the effectiveness of a project, campaign or marketing channel. Defining the key marketing metrics that matter is the foundation of any successful campaign, especially when you start reworking your current strategy. While other metrics are important and critical to any marketing campaign, their loss is your company's need for marketing metrics.
In order to measure successful digital promotions, companies track the return on investment (ROI), conversion rates of websites, the cost of acquiring customers, and the share of digital marketing revenue. Once companies know their digital marketing ROI, they can determine whether or not the effort was worth it or whether it needs to be terminated. The positive return you seek through your digital marketing efforts depends on which metrics you follow and improve over the long term.
Google offers a long list of digital ad metrics to help monitor your advertising, whether you run a paid advertising campaign with Google Ads or track traffic metrics of the site using Google Analytics. Advertising metrics help determine how your marketing campaigns move forward, what works and what needs to be changed. Measures allow you to decide which campaigns are effective and which are not. The beauty of marketing is that it is a tested and optimized formula that works for a while before you adjust.
According to a Google study conducted in partnership with MIT, 89% of top marketers use strategic metrics such as gross revenue and market share to measure effectiveness of their campaigns. Important marketing metrics are website traffic, channel-specific traffic, conversions, website bounce rate, search trends, brand visibility, trust, landing page conversions (CTR), traffic sources, new and returning visitors, visits, dwell time, email open rate and the entire campaign. Other important metrics for digital marketing are the total number of visits your website receives, another source of important data to keep an eye on. Digital Key Performance Indicators (KPIs) assess how well marketers use, measure and track the performance of their campaigns. These metrics help to set expectations and see if their efforts have a positive impact.
Not all metrics are created in the same way and depending on the marketing area in which you work, some may mean more than others when it comes to your KPIs of marketing. Digital marketing metrics help you analyze the effectiveness of your social media campaigns to generate web traffic and achieve conversions. Marketing metrics such as click rates, customer lifetime, organic traffic, bounce rates, click costs and page views can help you to understand whether your marketing strategy is working or whether you need to change your landing pages or ads to get your audience more qualified leads. These metrics also depend on which marketing funnel you are looking at - high profile, average views or low conversion funnel campaigns. There are many other KPIs that track specific information to analyze your marketing campaigns.
This makes your loyalty rate, along with other digital marketing indicators, a key indicator to keep an eye on. Another indicator of marketing from customers is the percentage of customers produced in a given period of time by a marketing effort. Another measure of digital marketing, known as CTR, measures the number of clicks advertisers get from their ads, or the number of impressions.
With such depth insights into digital marketing metrics, you can be sure to optimize your campaigns, select your target audience and maximize traffic to your website and conversion rates. An adequate understanding of the various indicators is important to discuss because it can make measuring your digital marketing less tiring. If you do not take the time and effort to measure your digital marketing ROI, you are running a campaign in the dark and have no idea if it's going to bring in money.
As your business grows and changes, your team should have the creativity to identify alternative metrics to measure and demonstrate the effectiveness of your marketing efforts. As members, we are happy to discuss options to improve the performance of your digital marketing campaign. We have seen marketers use metrics and new technologies to improve their campaigns. You can use feature metrics to highlight content and features that are popular with existing customers.
This metric measures the total income or loss generated by your digital marketing campaign based on your total investment. It helps to measure the effectiveness of digital marketing campaigns, similar to cost-per-action (CPA) measures. Your Customer Life Value, also known as Customer Life Revenue (PLV), is a measure of sales generated by long-term customers. It is not only a metric that you can track early conversions (if you provide it), but it is also a metric that allows you to collect customer data that allows you to add some insights, such as potential customer livelihood.