Marketing metrics allow you to analyze a digital marketing strategy. They are measurements that tell you how your business is doing. And by analyzing the numbers, you can make adjustments and get headed in the right direction.
So what are these numbers, and how can you start tracking them? What numbers tell you what is working with your marketing, and what is not?
We are going to provide you with a list of metrics that can help you understand what your marketing efforts are telling you.
A/B Testing
For those looking to take their digital marketing campaign to the next level, AB testing is the perfect way to increase the conversion rate of their efforts. To gauge the effectiveness of AB testing, it’s important to know what marketing metrics you should be tracking.
Measure your baseline conversion rate before AB testing to create a benchmark for success. Track how many unique visitors view the page where the test is taking place. Track how many of them start the action being tested and the exact action being taken.
Track A/B testing in combination with these marketing KPIs to ensure progress and verify the efficacy of the tests. Understanding customer behavior is essential for making informed decisions and avoiding digital marketing mistakes.
Click-Through & Engagement Rates
Tracking campaign performance with click-through and engagement rates can help understand how campaigns are performing. Click-through rate (CTR) measures how many clicks a certain CTA has had and is a great way to gauge how engaged people are with your content.
The engagement rate is a good measure of how people interact with your content. It measures how many people comment, share, and click on your content. Think of engagement rate as a measure of the value your content is providing to its readers.
By tracking both of these metrics, you’ll have a better understanding of how successful or profitable your content is. You will also have an idea of what to adjust or optimize.
Customer Lifetime Value
The most important marketing metric to track is the customer lifetime value (CLV). CLV helps marketers assess their customer base’s ability to generate long-term profits and value. CLV enables them to make wise strategic decisions aimed at increasing customer loyalty.
Customer acquisition costs are also reduced by CLV. Individual customer behavior, such as buy and renewal history, should be tracked by marketers. Marketers should track customer lifetime spend, satisfaction scores, and levels of customer engagement.
They also track customer attrition, retention, frequency of purchases, and time to buy post-acquisition. Using these customer and purchase-related metrics to analyze CLV allows marketers to develop a comprehensive view of their customers. Marketers can then use that information to target and engage them.
Learn More About Marketing Metrics
Tracking marketing metrics can help improve the effectiveness of campaigns and measure their ROI. These metrics allow you to fine-tune your marketing strategy for even better results.
Start analyzing your marketing performance today and see the difference for yourself. Learn more about marketing metrics and how to track them on our website.
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