Important Metrics to Review in Your Marketing Campaign
Whether you are just starting out or looking to improve your current marketing strategy, understanding marketing metrics and outlining those that matter most is crucial for a successful campaign.
What are Marketing Metrics?
Marketing metrics are a quantifiable way to track, measure and record performance. They allow marketers to establish operational discipline, assess campaign effectiveness and validate the outcomes of their marketing strategy.
The metrics themselves are varied and marketers must choose one that is right for a particular strategy. Marketers need to decide their goals and work with relevant metrics that can help track the effectiveness of their strategy. If you’re overwhelmed by hundreds of options out there, here is a shortlist of important metrics to consider when you are running campaigns together.
1. Website Traffic Metrics
All your marketing campaigns will eventually direct viewers to your website, where they will get to interact with your business. The more traffic you drive into your website, the more leads and conversions you can generate. Measuring the website’s overall traffic, which basically includes all traffic sources, i.e. referrals, social media, organic traffic or any other source will give a good idea of the overall performance of your website.
The great thing about website traffic metrics is that you can use the data to identify which sources or channels are doing well and those that need improvements. You can also increase website traffic by creating better content, boosting your digital marketing efforts, and implementing good SEO practices.
2. Engagement Metrics
For instance, if you are focusing on campaigns using different social media platforms, engagement metrics help you get an idea of what a user did after viewing your marketing message. This often helps determine the success of the content and what impression it helped establish with the audience.
These metrics often measure campaign performance further in engagement, where users are more interested in your business and interact more effectively than just reading a blog or watching a video. Users’ engagement rate, average session duration, and bounce rate are important factors to consider at this stage.
3. Lead Generation Metrics
When there are repeated interactions between a user and your business, it is more likely that the individual will become a lead. The interaction usually implies that a particular user has found value in your business and is likely to take action.
When measuring sales, it’s very important to monitor lead metrics, since they will give you an idea whether the individual that you have attracted through your marketing message is just viewing the content or interacting with it and finding value from it.
Understanding the number of interactions a lead will typically take before conversion is an important metric to consider when trying to improve your strategy.
4. Sales Metrics
Sales metrics are one of the most important metrics to review since they help you understand which actions lead to conversion and revenue for your business.
Sales metrics show the flow of a prospect from the initial point of interest, where they were introduced to your business, to the end stage of conversion. This helps you identify the most effective areas across your marketing strategy and those that need improvement.
As you become familiar with these important metrics, you can really see what’s missing in your digital marketing approach, make adjustments and finally achieve the results you’re working for.
Recognize the importance but don’t have the time to go through all these marketing metrics? Or, need experts to help you sort it out? IMPACT Digital Marketing is here for you. Armed with behavioral information and real-time data analytical skills, our competitive marketing experts help you with marketing metrics while customizing your marketing activities to deliver results based on your goals and budget.