Which Marketing Metrics Should I Track?
In the age of social media, content marketing and SEO, it can be difficult to keep track of all the new metrics that have been developed over the years. With conversions, likes, CTR and bounce rates to take into account, you may be wondering which vital metrics you have missed. It turns out that not only do people miss a lot of the best metrics, but they also are following some that have less value than they think. Whether it pertains to email, social media, paid search or something else, metrics have a valuable place in it all – as long as you understand which ones to utilize. In the following article, we will discuss the most important marketing metrics that you should be using in various walks of internet life.
In the world of email marketing, a few metrics have become the most common elements to inspect. We hear quite a bit about open rates, deliver-ability rates and bounce rates, but these are far less effective than some other observations that can be made with any email campaign. Rather than focusing on these, we recommend that you focus on the number of leads generated from each campaign, the click through rate of each email and the cost per lead. When pinging users via email with offers, discounts and news, the costs associated with such actions and the rewards reaped are far more important than the simple stats that most people use.
Usually, the world of social media revolves around the notion of friends, followers, likes, re-tweets and shares. This is a common consideration, since this is most of what the vast majority of social media users see. In reality, however, there are several other metrics that should be considered by page and profile administrators before these are taken into account. Some of the more important elements include the number of leads generated from your pages, the purchasing behavior of people who land on your website from social media and how many referrals you have accumulated.
Paid Search Metrics
In the case of paid search, we often rely upon search engines to do the hard work for us. In many cases, campaigns will automatically adjust in order to help increase exposure, clicks and conversions. Still, how can you be sure that your campaign is succeeding? Many people use impressions, the ad position and cost per click to determine success. Instead of this, consider the cost per acquisition, cost per lead and number of leads generated from each campaign. In these cases, you will be able to discern whether pinging users via paid search is having the desired effects.
While we are all aware of the most popular metrics used in many types of marketing, it is vital that we understand the metrics that truly matter. Likes, shares, clicks and opens can all give us some insight into how our campaigns are performing, but we need to dig deeper in order to see their true relevance. As time goes on, this type of metric analysis will only become more important for those who want to make a living on the web.