8 Marketing Metrics Every Business Should Track
Do you know how to monitor and track your marketing metrics? How do you know that your marketing strategies and techniques are generating leads and performing optimally?
Marketing metrics and key performance indicators (KPIs) make tracking the effectiveness of your marketing strategies simple. This is also useful for determining whether or not it is working, so you can either keep the line moving or make some necessary changes to your current strategy.
The issue is that there are hundreds of metrics available right now, making it extremely difficult to decide which ones to use.
However, depending on your current goals and campaigns, these 8 marketing metrics are the most important to use to measure the performance and success of your brand.
Top marketing metrics to use for a winning paid marketing campaign
Paid ads are a great way to increase brand awareness and lead generation, both online and offline. Check the following metrics to ensure you are making the most of the clicks it generates:
- Conversion metrics. Who is the most likely to click on your paid ads? Who among those who clicked on your link went on to purchase your product? These are just a few of the questions that can be answered by tracking conversion metrics such as conversion rate, click-through rate, and the total number of conversions.
- Return on ad spends (ROAS). ROAS is the ideal metric for determining whether every dollar spent on advertising is truly worth spending. This is an important success metric because, as previously stated, it shows whether the money spend on ads compensates for the performance it generates.
Top marketing metrics that can scale up your SEO campaign
SEO is very important because 68% of online experiences begin with a search engine. Put your website and content on Page 1 of every search engine by using the following metrics:
- Search traffic metrics. These include the number of website visitors, bounce rate, page views, landing page performance, and session duration. All of this is necessary to determine whether your website and its contents are generating page views, among other things.
- Keyword rankings metrics. Keywords are at the heart of every SEO campaign. Are your current keywords competitive enough to rank on search engines? Or does it need a makeover? Either way, through the use of metrics like keyword position, top queries by click, and keyword position change, your SEO success questions will be answered comprehensively. And tools like Google Trends can get you started.
Top marketing metrics to make a splash in social media marketing
Social media marketing is a massive market to tap into, and using the right strategies and keeping track of it are two different steps that can completely transform your brand. Remember that 63% of customers expect brands to be present on social media.
- Engagement metrics. Social media engagement is your brand’s lifeline, and it is critical that you measure it correctly. Knowing which posts receive the most engagement, engagement rate, and total reactions and shares can provide a more accurate picture of their performance.
- Conversions & clicks. Over the past few months, social media ads have been gaining an enormous amount of traction. You can devise a better plan or roadmap for your ads by using metrics such as the number of clicks, click-through rate, and conversion rates.
Top marketing metrics for an email marketing campaign that sells
Email marketing continues to be a top priority for businesses. Its juicy $40 ROI on every dollar spent says it all. Aside from incorporating these new trends into your email marketing, using the right metrics can help boost your current campaigns even further, and avoiding all of your efforts from hitting the SPAM folder.
- Open rate. How many users have opened your email? With this metric, you will be able to identify if your subject line is effective in getting your recipients to actually open your email, indicating that some interest was sparked.
- Click-through rates. Assume your users have already read your email. What happens next? Make sure they click on your CTAs and convert. Keeping track of your email campaigns CTRs can help you decide what steps to take next.
Let the tracking games begin!
Choosing the right marketing metrics for your campaigns and tracking them correctly goes a long way. It allows you to see if your campaigns are heading in the right direction or if changes are needed. It is similar to how you look after your health - you won’t know if you’re healthy enough until stats and body metrics tell you so.
Or maybe, it’s time for you to refresh your current campaigns. Let Elephant in the Boardroom redress your campaigns, whatever that is, and make it runway-ready! Head to www.elephantintheboardroom.com.au or give us a call on +61 37018 7620 for your digital makeover!
