And Why Are Marketing Metrics Important?
Marketing metrics are numerical data that can be measured to track the progress and performance of marketing campaigns. There are many different types of metrics that can be used to measure marketing success. Not every metric is a winner. Some metrics are more likely to give valuable feedback than others. Keep reading to learn more about the best marketing metrics to use for your marketing campaign and strategy.
Top Metrics to Use in Your Business
As we just mentioned, not every metric is going to be beneficial to a company. Sure every metric provides valuable data, but depending on your goals and niche, you may want to choose some of the best performing metrics over the mediocre ones. Here is a list of the top five metrics:
Paid Marketing
Return on Ad Spend
SEO (Search Engine Optimization)
Keyword Ranking
Engagement
These five metrics are the top contenders in the data market today. They will help any company acquire a valuable, well-rounded picture regarding their marketing successes and where growth needs to occur.
What Each Metric Provides
Each metric provides different data to a business or corporation. Some metrics focus on the audience, while others focus on keyword research. Each metric is valuable in its own right, but it is important to understand them before moving forward. Here is each type of metric broken down with an explanation.
Paid Marketing
Paid marketing is essentially paid online ads through popular social media outlets or search engines to raise your business’s relevant information to the top of key searches. Conversion rate, which is the number of users who link to your site and convert to a customer (buy a product, subscribe to a newsletter, etc.), is the key function of this metric. Paid marketing reports will provide you with information about conversions and how your ads are performing.
Return on Ad Spend
This is the amount of money your business makes based on the money invested in ads. Essentially, it is the money you make after an ad lures a customer in; this information is great because it can tell you things such as customer acquisition cost and cost per lead.
SEO
SEO, also known as Search Engine Optimization, ranks the keywords used in a business’s website content against its competitors. This metric allows users to determine whether or not they tend to focus more on SEO so that they can win higher rankings on Google.
Keyword Ranking
This shows which keywords your company has used and where they need to improve. It also compares your content to that of competitors. Popular websites like AHrefs and Semrush assist users with obtaining information on this metric.
Engagement
Engagement allows businesses to check on their brand, voice, and interaction with the online community that they use. People who interact directly with a website are more likely to recommend the business to someone else via word of mouth or a social media platform. This metric can show information on likes, shares, comments, and other means of engagement and audience participation.
Metrics are Key To Business Success
In order to run a successful business, it is important to use the metrics available to strategize new marketing campaigns to grow your business. It can be hard to get this information and keep track of it all. Conveniently, data companies like M1 Data can help you. These companies specialize in mining information and dissecting it to get the most quality metrics available to help you and your company grow.
