Without analytics, marketing is little more than an idea shouted aloud. You have no idea who heard it. If anyone agrees with you, then you are completely unaware. You need marketing metrics to measure how effective your campaigns are, and so that you can improve if they are starting to fail.
I mean, it is the statistical, maths-based, analytical and completely unsexy element that turns marketing from an art into a science.
But it is a necessary science.
But what metrics are you interested in? In some cases, the data you are getting back are little more than vanity metrics. Unless you apply the data right, all you are receiving is a handful of “that’s nice to know” numbers.
So here are five major marketing metrics you should be measure.
Now where did all this traffic come from?
Measuring the traffic to your website is an obvious first. You need to know people are finding your website, and that you aren’t just hosting a deserted online shop in the middle of a cyber-desert. But assuming you are getting at least a little traffic, then it is worth knowing where it came from.
Looking at referral sites can help your company make a multitude of decisions.
You might decide to double down on a successful Facebook Ad campaign, taking money from a flailing Google Ad. You might find that a lot of traffic is coming from a specific blog article, and decide to push it out on social media again to attract more attention.
However you decide to do it, spend time determining which sources are worth spending more time and money on to generate leads.
Impressions vs Engagement marketing metrics
Measuring impressions gives you an idea of your reach. It can tell you how many people saw your ad. However, there is a limited amount of real information you can grab from impressions alone. You need to make comparative figures between your impressions and the total engagement that your post, ad or campaign has had.
I mean it is great knowing that 500 people saw your blog post.
But knowing that 500 people saw the post that received one share, three clicks, and ten likes tells you a lot more. It allows you to gauge how successful it has been. You know it is a lot less successful than the post that 200 people saw but shared twice, clicked 40 times and received 90 likes.
It also allows you to drill down into the personal.
Who liked the post? Do they share a specific or comparable demographic?
Similarly, measuring engagement marketing metrics without checking impressions means that you are missing out on understanding the post’s reach. These figures directly correlate and should be studied in relation to one another.
Variations on cost per lead
Working out your cost per lead, in theory, is simple to calculate. Divide the total amount you spent on a single campaign by the total lead conversions over the same period. This may help you decide how much to spend when revisiting that campaign later. But as a marketing metric it needs to be considered against the total amount of visitors to that landing page and impressions.
Once again, without looking at the entire picture you are only seeing the amount of people who positively responded to your campaign. Work out your cost per impression. Perhaps also work out your cost per landing page visit, and then compare the three figures together.
Obviously, you are going to show a massive deficit between impressions and conversions. But if you do this for all campaigns, you can see which are working better. This will help you with your conversion rate optimisation (CRO) and can be used to diagnose issues with your sales pipeline.
Search trends’ and keywords’ analytics
This one might feel like a bit of a curve ball. You have absolutely no control over this at all. In fact, this is the first of the marketing metrics I have mentioned that doesn’t react to your campaigns and posts, but rather, should force you to react to it.
This might seem like research as opposed to analytics. However, it is still data collected to be analysed and used to shape marketing campaigns in the future. The data just hasn’t been generated by your brand.
But if it is industry relevant, then you should be using it.
This is one of the most important metrics to measure. It literally can save you time and money before you create your marketing campaign. Use it to help you whittle down to the keywords and trends that are most likely to generate relevant traffic.
Top 10 organic entrance pages and their subsequent journeys
To test the visibility of your pages, and the effectiveness of your SEO, take some time to look at the organic entrance pages. What are the most frequent pages that visitors wash up on? Are these the pages that you want them to see first?
It then stands to reason that you should delve a little further. Where does their journey go from here? You might find that there are problems.
For instance, if thirty percent of people landing on a specific page and then thus ends their journey, there might be a problem with that page.
Checking out the top 10 entrance pages does give you an idea of how good your SEO is. The entrance page is also important, because it is what convinces the user to continue the journey to the checkout. If it isn’t doing this, then you need to spend some time diagnosing where the failure is on this page.
I think the real point is simple. Individual marketing metric often only give you a limited view. When considered alongside other metrics you begin to drill down to the important information.
What we really need to figure out is how the customers are behaving. Each marketing metric on its own begins to tell us one story. But to complete the story and discover the true journeys of your visitors and buyer personas, you begin to diagnose any flaws in your own system.
There will be flaws. No system is perfect. So, as unstimulating as graphs and numerical statistics can be, they will help you profile your cases.
A bit like a Criminal Minds for marketers.
It is always interesting to hear outside thoughts on these subjects. Please leave a comment with any metrics you feel important, or to leave a bit of feedback.
Either is good.