As a marketer, you understand the importance of tracking marketing metrics and key performance indicators (KPIs) to assess the effectiveness of your campaigns and make necessary adjustments. However, with the abundance of available metrics, it can be overwhelming to determine which ones to focus on. In this blog post, we will provide a guide to help you select the right marketing metrics based on your objectives.
Marketing metrics are quantifiable measurements that marketers and agencies use to evaluate the performance of their marketing campaigns across various channels. These metrics are typically presented in marketing reports using charts, graphs, and lists. The data is often compiled on a monthly, quarterly, or weekly basis to ensure statistical relevance.
Here are some of the top marketing metrics to track in this year, organized by different types of marketing strategies:
Paid Marketing Metrics:
You always want to have a clear picture of your ROI, or return on investment, which is why paying attention to your paid marketing efforts, which may include PPC (pay-per-click), display ads, and other digital tactics, requires a clear understanding of metrics. The essential metrics to track for paid advertising campaigns are:
Conversion metrics: These metrics measure the number of customers who clicked on your ads and completed a desired action, such as making a purchase or completing a form. Key conversion metrics include conversion rate, total number of conversions, and click-through rate (CTR).
Return On Ad Spend (ROAS): ROAS measures the revenue generated for each dollar spent on advertising. It helps determine the profitability of your ads and provides insights into their effectiveness. Additionally, you can track metrics such as customer acquisition cost (CAC), cost per lead (CPL), marketing spend, and customer lifetime value (CLV) to gain a comprehensive understanding of your advertising costs and returns.
SEO Marketing Metrics:
Search engine optimization (SEO) focuses on improving your website's visibility on search engines - like Google and Bing. Evaluate the success of your SEO efforts by tracking the following metrics:
Search traffic metrics: These metrics help you gauge the effectiveness of your website in attracting organic search traffic. Important metrics to monitor include website visitors, bounce rate, page views, landing page performance, and session duration.
User Demographics: Dive deeper in the search traffic and look at the users who are visiting your site through organic search. These may be past customers or new, which you can refine through analytics data. You can determine if there are ages, geographic regions, or other relevant demographics that will help you refine your marketing efforts to reach your target audience.
Social Media Marketing Metrics:
Social media metrics are crucial for measuring brand awareness and referral traffic to your website. Consider tracking the following metrics to assess the performance of your social media campaigns:
Engagement metrics: Engagement indicates the level of interaction and interest generated by your social media content. Metrics such as top posts by engagement, engagement rate, likes and comments, shares, and the number of subscribers can help you determine the success of your organic social media efforts.
Conversions & clicks: To evaluate the effectiveness of your social media strategies, it's essential to measure the number of clicks, click-through rate (CTR), and conversion rate. These metrics provide insights into whether your campaigns are driving meaningful actions and conversions.
Email Marketing Metrics:
Email marketing remains a powerful tool for engaging with your audience. To evaluate the performance of your email campaigns, consider tracking the following metrics:
Open rate: The open rate measures the percentage of subscribers who open your emails. It provides insights into the effectiveness of your subject lines and the level of interest from your audience.
Click-through rate: The click-through rate measures the percentage of recipients who clicked on the links or CTAs in your emails. Tracking this metric helps assess the engagement and conversion potential of your email campaigns.
In addition to these metrics, it's important to track other relevant email marketing metrics, such as the number of email opens, unsubscribe rate, new subscriber growth, and conversion rate.
Choosing metrics that are aligned with your marketing goals and tracking them efficiently makes it easy to create clear reports. From PPC to email marketing and SEO, you should now be ready to track everything you need.
