Which Marketing Metrics are the most important to track?

Do you have any idea about how to measure the success of your marketing efforts? Tracking and analyzing the right marketing metrics can be key to how you quantify success.

Marketing Metrics to track

The goal of any marketing plan is growth. A fine-tuned marketing campaign is essential for any company expecting to grow their business. Do you have any idea about how to measure the success of your marketing efforts? Tracking and analyzing the right marketing metrics can be key to how you quantify success. So, if you don’t have a better understanding of marketing metrics, you can go with this blog. Continuously read at the end to learn more info about these marketing metrics! 

12 key metrics to track in 2023 

Use marketing metrics regularly to track success and measure whether goals are being met. Through these, marketers can handle, record, and measure the success of marketing plans and campaigns over a lapse of time. Here’s the list of the main metrics in marketing to track on a continual basis, sorted by metric type:

Brand awareness metrics

Brand awareness metrics can measure how familiar your target audience is with your brand or products. And, here are the key marketing metrics to measure brand awareness.

  • Impressions

We can typically use impressions to track digital advertising campaigns on social media platforms like Facebook, Instagram, YouTube, or TikTok as well as Search Engines like Google or Bing. Also, it can be used in organic searches. 

  • First-page keyword rankings

Organic search can be an essential part of many organizations to increase their online presence. In Google searches, keyword ranking or a website can be an indicator of SEO performance. On Google and other search engines, the amount of keywords ranking on the first page can be a meaningful metric to track brand awareness.

  • Social media engagement metrics

No matter the platform you use, tracking social engagement metrics is essential to measure brand awareness. This metric typically includes the amount of likes, comments, and shares.

Conversions Metrics

It can help you to get a better understanding of digital marketing when you measure website conversion metrics through platforms like Google Analytics. To attract new audiences and familiarize them with your brand, we use new posts. If your content is so good for your customers: they visit your website, subscribe to your email newsletter, and ultimately become fans of your brand. Here are key metrics that measure conversions:

  • Conversion rate

This is a standard marketing that marketers use to measure the rate of users taking the end goal, or a “conversion” that is set in Google Analytics. The conversion rate always could be an online purchase, a form filled out, or a download on your page. Also, it is a key metric usable for tracking the performance of digital marketing efforts. 

  • Value per visit

You can do each conversion with a value amount in Google Analytics. You can measure the value of each web visit if you estimate an amount. This is a key metric that gives attention to increasing the average value of each visit to the website.

  • Marketing qualified leads

A Marketing Qualified Lead or MQL is a metric that is used to track indicated interest in a product or service that a marketing team or professional deems is likely to become a customer or your fan. If you can increase this metric it is a great point for the increase in your overall marketing performance.

Marketing Performance Metrics

  • Cost per lead

This is another essential marketing metric that is useful to measure how much it costs you to acquire a lead. It is calculated by dividing the spent amount on a marketing initiative by the generated leads number.

  • Marketing ROI

The Marketing Return On Investment (MROI) is the income that you can get from the amount received from a marketing plan, campaign, or activity. Marketing ROI is calculated by dividing the amount that you spend on marketing activities by the income. 

  • CLV/CAC ratio

CLC and CAV are two marketing metrics that are essential to use to measure performance. It tells you how much it costs to acquire a new customer, and customer lifetime value tells you how much a customer is actually worth to your business.

Retention Metrics

Finally, the last marketing metric is retention metrics. We have to pay more cost to find a new customer than it does to retain existing customers. Through this, you can measure how much costs you pay to acquire a new customer. 

  • Customer churn

Customer churn is, in a certain period of time, the rate at which customers stop buying from or subscribing to your organization.

  • Customer LTV

Customer Lifetime Value is the calculated amount from a single customer account over the whole customer’s lifespan. This is another key marketing metric that measures customer retention. It helps companies to focus on targeting ideal customers and reducing customer acquisition costs.

  • Net promoter score (NPS)

The NPS is simply how likely a customer would recommend your brand, product, or company to a friend or colleague. This metric is usually to quantify customer loyalty and is an indication of growth and it is used by marketing teams and organizations.

Why is it important to measure the marketing metrics?

It becomes harder for marketers to know how they can positively impact their experiences at every touchpoint when more consumers go online and follow intricate journeys. If you measure the right marketing metrics allows you to know how consumers react to your campaigns and communications. Based on these facts, marketers can increase the efforts that pick the most benefits, and adjust the ones that are not producing the desired results.

Metrics also help marketers prove the value their efforts add to the organization. This makes them get bigger budgets and better resources to create the maximum impact.

In closing 

It is essential to track the right marketing metrics for growing your business fast. If you want to track your marketing performance, now, you can use these key metrics. All these are important, and a decisive marketing campaign is lost without them. Your business needs marketing metrics.

What is your future target based on your business goals? However, analyzing the right metrics to follow can prove highly lucrative. So don’t miss out on these facts and start now to use marketing metrics! 

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