You need more customers. Well, trackable metrics can help. After all, what good is it having a website when it doesn’t have traffic. It’s not enough to just have your website published or a long list of contacts. You need actionable results.
Of course, the importance of marketing metrics doesn’t need to be a painful process. In fact, some critical parameters can facilitate your marketing strategy. That said, it’s important to remember that these metrics should be used in conjunction with each other and can be rather than on their own.
For instance, BOUNCE RATE is a strategic metric that is a small part of the whole. Nevertheless, this trend serves as a helpful barometer for functionality. Especially useful in long-time data collecting companies, bounce rates can not only show how well a landing page is working, but they can also give insight into audience-relatability.
Another key metric that you should have your eye on is LEAD QUALITY. Despite a lot of companies’ misconceptions, sometimes more isn’t always better. In other words, it isn’t good practice to measure the success of a marketing campaign by how many leads it generates. To the same effect, it makes sense that the most successful campaigns rest on the shoulders of qualified leads.
Focusing on CLICK-THROUGH-RATE (CTR) is never a bad idea. Identifying the relationships between your copy and keywords and your audience’s impression is fundamental to improving your business. Furthermore, AdWords, among many other advertisement tools, makes it easy to identify any discord between your ad copy, keywords, and search parameters.
It’s hard to deny that COMMENTS play a significant role in using marketing metrics to your advantage. Just because someone clicks a like button, or swipes a screen, doesn’t mean that they paid attention to its content. The only way to be sure someone is taking the time to read your content is if they took the time to leave a comment. What’s more, if your content evoked a strong response from many commenters, you’ve done your job.
Just kidding. It’s always good to see that visitors are spending a fair amount of time on your site. Google even does this with brick-and-mortar businesses to show peak hours and the busiest times. So why not monitor your web traffic the same way? If people are spending more time on your site, the chances are that the content they are looking at hold value for them. The sentiment that your audience has for your business can be directly correlated to how long they spend on its site.
Plain and simple, CONVERSION RATE is the most important metric to observe. If you have customers on the line, every call should be a conversion. I mean, what’s the point of generating leads, if they don’t put any money in the bank. Multi-Channel Funnels help with being able to understand the hoopla around conversions. Reviewing pre-conversion behavior is essential in choosing the right advertising strategy. For instance, maybe with the information gathered from observing a trend from the last channel, more effective CTAs could be brought forth.
So, where it’s probably best to start by laying it all out on your desktop in a spreadsheet, this exercise isn’t something that should overwhelm you, but rather enlighten you. Remember, these are only indicators, and not cold hard facts that failure is in the near future. The great thing about monitoring marketing metrics is that they can help business owners keep their customers happy before they have a chance to get sad.