What are the 5 marketing metrics

Tracking your digital marketing campaigns is more important than ever before. Without data to back up your campaigns, you miss out on essential insights to maximise your efforts.

So, what’s the key data you should track throughout 2020? Let’s take a look.

What are marketing metrics?

Well, they’re measurable values that show off how effective digital campaigns are. And that’s across a range of marketing projects. They can include:

The list does go on, but the importance of each one depends on what a business is targeting across each campaign.

For example, email marketing campaigns remain popular—and are enjoying something of a resurgence in recent years.

For a while they seemed to be falling out of favour, but businesses realised they could target existing customers and/or prospects with cheap and effective email strategies.

And as a marketing team, you’ll want to know just how many of your emails were opened during a campaign.

8. Lifetime value of customers

Customer lifetime value (CLV) takes a look at the sales from a specific customer.

So, if there’s a particularly loyal individual who regularly shops with you, there’s a chance to see the income they provide to your business.

This can help determine who’s a valuable customer.

That can lead to opportunities such as tailoring sales packages for them to promote products, further enhancing your long-term sales relationship.

9. Customer retention

A system that tabulates the number of customers visiting you, with the aim of keeping them coming back for more.

With widespread competition in the modern business world, establishing a lasting customer retention rate is more difficult than ever.

Understanding their purchasing habits is key to this, so delve into your data to see:

There are other metrics, but those are some of the essential ones. But even if you only have the resources to track a few of them, it can keep your campaigns on track.

Metrics—a conclusion

They’re all-important and a decisive marketing campaign is lost without them—your business needs marketing metrics.

They help steer your campaigns towards success, rectify failures, and provide ROI.

What you target is dependent on your business goals. But analysing the right metrics to follow can prove highly lucrative.

Don’t miss out—speak to your marketing team, or refer to an industry expert for guidance.

About the author

Anneka Burrett is head of digital experience at BrightHR, a leading HR software company. Burrett is responsible for generating leads through paid and earned digital channels, as well as through strategic digital marketing campaigns.