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The Most Important Marketing Metrics to Track

Marketing Metrics

The Most Important Marketing Metrics to Track

What are Marketing Metrics?

Marketing metrics are a quantifiable way to track performance and are an important marketing measurement tool for gauging a campaign’s effectiveness. The most appropriate marketing metrics vary greatly from one campaign to the next, but in general they measure the effects of your campaign on audience actions. The right digital marketing metrics to measure will be the ones that ultimately have the most impact on your business goals, which may be sales generated for one campaign but incremental reach for another. By helping you understand how effective your campaigns are, marketing metrics help digital marketers optimize their current campaigns and plan for future campaigns.

Here are examples of metrics for various marketing channels that can help marketers make informed decisions about how to best optimize their budgets.

  • Email marketing: as email opens, email forwards, and unsubscribes
  • Digital marketing: click-through rate, cost-per-action (CPA), and impressions
  • Social media: follower count, impressions or reach, and engagement rate
  • Website: total traffic, bounce rate, new customers, returning customers, time spent on site and traffic sources, as well as conversions
  • Content marketing: blog traffic, amount of content shared, content downloads, and qualified leads through lead generation form fills
  • Video and streaming TV ads: impressions and total viewing time
  • Sales: sales team response time, sales call volume, and sales call reviews
  • Revenue: how much revenue each channel is generating
  • SEO: keyword average rankings, keyword search volume, and organic traffic
  • Quality: Quality Score, Net Promoter Score, reviews, and monthly recurring revenue

Marketing Metrics

Why Are Marketing Metrics Important?

Marketing metrics are important because they allow marketers to have a solid understanding of how their marketing activities are performing. These metrics are sets of numbers that marketers typically track to give them a sense of whether marketing activities are working or not. Marketing metrics also give marketing departments direction on what activities should be expanded or adjusted in order to achieve maximum ROI.

Depending on their specific role, marketers will track different marketing metrics, from website traffic to qualified leads. Marketers will then need to use marketing analytics to determine what those marketing metrics mean, what trends they indicate, and what actions they should take to achieve their marketing objectives and goals.

The Benefits of Marketing Metrics

Being able to track your marketing metrics over time provides you with the ability to:

  • Scrutinise the performance of your business (from departments to individuals)
  • Identify areas of weakness and address these head on
  • Work toward company objectives
  • Align your employees around your eCommerce strategy
  • Focus your employees and resources on what’s most important

Metrics that every business should focus on

Sales Revenue

This is simple and essential, and you probably do it already. You might also refer to it as your turnover. It’s basically how much you sell each period. How much money you receive for selling your services or products.

Profit

Profit is how much money you actually make from your sales. It’s no use selling your products for £100 if it costs you £120 to buy, market and ship.

Your profit is the money you have left, after all your expenditures have been accounted for. This includes marketing costs, rent, wages, insurance etc.

Website traffic

Knowing how many visitors you get to your website isn’t just about vanity. It’s an important figure to know so that you can see if your marketing efforts are working. Are they driving more users to visit your website?

It needs to be used in conjunction with other metrics, but it’s definitely something you should measure regularly.

Be sure to omit any company URLs from your Google Analytics though. And separate traffic by returning visitors vs. new visitors. This will help see how many potential new customers are coming to your website, compared with those who already know about you.

 Marketing Metrics

Engagement metrics

Just getting website visitors isn’t going to help you make money, which is why it’s important to measure engagement metrics on your site too. There are several different ways of doing this including, including bounce rates, time on site, page value, and number of pages visited.

Cost per lead

Cost per lead is very important too. It tells you the average amount you spend on marketing and advertising in order to get a lead. This helps you plan your wider strategy.

Conversion rates

Conversion rates are a great metric to use to see how effective your website is – along with engagement metrics. Your conversion rate is the number of users who do the action you want them to do – buy, get in touch, download etc. – compared with the total number of visitors to your website or landing page.