In today's data-driven marketing landscape, understanding and leveraging various metrics are required for driving and optimizing marketing strategies to achieve business goals. The information contained in this chart are just 'some' key marketing metrics to measure various business activities and may not accurately represent your (or any other) organization or marketing efforts. It is important to note that each business is unique as are its business strategy, priorities and objectives. With that being said, let's take a look into some of these key marketing metrics, their accessibility, and importance by area.
Social Marketing metrics measure the performance of social media activities and include metrics such as followers, impressions, engagement (likes, shares, etc.) While social media metrics provide a snapshot of media engagement, they may not directly correlate with revenue or conversion rates.
Website and Search Marketing metrics are crucial for understanding a website's performance and its search engine visibility and include metrics such as paid search, page /domain authority, users, etc. Web and search metrics help in optimizing a website's content and search engine rankings with the goal of driving more organic traffic.
Email Marketing, Lead Generation, and Lead Nurturing metrics measure the performance and effectiveness of attracting, converting, and maintaining relationships with prospects, leads or repeat customers and include metrics such as conversion rates, open rates, cost per lead and more. Email metrics help with improving email campaigns and engagement rates. Lead generation / nurturing metrics help with improving how leads move through the marketing funnel.
Revenue Marketing metrics measure the financial impact (or ROI) of marketing activities and include metrics such as marketing influenced leads, opportunities and the dollar amount associated with them. Revenue marketing metrics help in aligning marketing strategies with revenue goals.
I placed this one just slightly higher on the scale of effort because acquiring these metrics are not always in your control as it depends on customers taking action unlike the other metrics shown here, which are in your control (at least most of the time). Retention metrics are important if you want to measure how well your company retains customers and ensures their satisfaction and include metrics such as Customer Satisfaction Scores, Customer Effort Score and more. Retention metrics help in understanding customer loyalty or churn rates.
Understanding and beginning to track these marketing metrics are necessary for driving informed business decisions and optimizing marketing strategies. By leveraging some or all of these metrics effectively can elevate your marketing efforts to drive results and growth. Keep in mind that the metrics presented here are only a few from each respective area. Future blog topics here on Marketing And Tonic will dive into how to implement these and other marketing metrics and strategies.
Header and main illustration by Marketing & Tonic
Keith Kimble