Marketing metrics are something that gives a full view of a marketing campaign in brief. Typically it’s time-consuming and also sometimes impossible to check every page to get the whole idea about the campaign.
Marketing metrics which is measuring tools, that give a glance view of a marketing team. It’s like a “content” of a whole report. Every marketing managers should be aware and familiar with these metrics. It also greatly helps to know the ability and disadvantages of a team.
Today’s data-driven culture, it’s wise to get familiar with these metrics. You need to lead the marketing team as well as measure all the marketing metrics of the team’s performance. A major portion of your time will be spent on building strategies for the team. For this, you may be already using different platforms, and it’s also time-consuming. It’s like a big canvas, where you need to connect all the dots to create a perfect picture of your marketing team & performance. Through these, you will be able to track all individual performances to make it a whole report for your full team! There are some core marketing metrics which are essential to lead a team smartly and properly.
8 Important Marketing metrics:
- ROI (Return on investment)
- Incremental sales
- Cost per lead
- Traffic through SEO
- Landing page performance (Google Analytics)
- Email marketing reports
- Social traffic & leads
- Web Traffic
Based on different studies, these marketing metrics are crucial for the performance of a team.
ROI (Return on Investment):
ROI or return on investment is the most important marketing metrics for a marketing manager. It’s a metrics that determine how a company is investing in its growth. It breaks down campaigns where a manager can determine what’s working and what isn’t. ROI determines the effectivity of your marketing spend.
It’s the fundamental question about marketing efforts and its contribution towards the sales revenue. If the strategy works properly, then the sales revenue will increase. If high engagement is not converted to incremental sales, then there is a problem. This metric should be under constant monitoring to let the team track for baseline sales.
Cost per lead:
Cost per lead is a vital metric for a marketing manager because it shows the cost of every lead. It’s essential because it gives an insight into the marketing campaigns. If the lead price is very high, then you need to find the glitch. With RIO and incremental sales, Cost per leads also needs special attention. Lead quality & conversion rate is the basics of what marketing team is doing.
Traffic through SEO:
SEO here means both organic and paid traffic to your website. It can be paid or organic; you have to choose which one suits better for you. It’s an important sector you need to focus on. Both Search Engine Optimization and Search Engine Marketing are critical from the marketing perspective. SEO is a continuous changing & as a marketing manager, you should be updated with the recent trend. SEM determines where you need to spend marketing budget to get sales lead. This metrics shows whether your target audiences are redirecting to your website or not. Remember that SEO is a slow process while SEM is fast and more effective for a short run.
Email marketing reports:
This material shows how your email marketing campaigns are performing based on the results of different email campaigns. You can manage different type of data such as how many emails have been sent, how much have been opened and how many have been clicked. You can determine the click rate as well as run A & B test to find the effective format. This is a very good way to create sales lead.
Social traffic & leads:
As a marketing manager of the digital era, you have to cope up with social media marketing metrics. Social media is a place from where you can gain traffic & sales leads. You will be able to identify which social platform is performing better than others & can work with less effective ones. Your major portion of digital marketing budget will be spent here, so you have to keep a close eye here.
Web traffic is something very important for a marketing manager. This metric shows the overall picture of your marketing team. You can see how much traffic has been landed here on the marketing budget. Organic traffic free so you have to be focused here.
Another part is the device type. If your website is having an increasing amount of traffic through mobile devices, then both your marketing team & budget needs to be diverted on this device. If your focus group is specified, then this metric will show where you need to focus. Even your web design team needs to be alerted for better UI if you get a significant amount of visitor to a specific device.
Marketing metrics will give you a clear insight into your team as well as their effectiveness. As a manager of the digital era, you need to be familiar with these metrics for better reporting. Monitoring a team’s performance is the duty of a manager, and it’s the only metric of his performance. So you have to do it effectively, and these metrics will help you to do that easily. Remember that an expert manager can make boring monthly meeting interesting & enjoyable.