Measuring your marketing campaigns is the best way to determine the success of your efforts. Without accurate measurements, it’s easy to be misled by regular market fluctuations or emotions. A few key areas can help you gain important insights into how your campaigns are performing and where they can be improved. Here are five metrics you should use in every marketing campaign, no matter how small it might be.
Where your traffic’s coming from
It’s important to measure your rate of traffic and know where your visitors are coming from. Identifying how many people click on your ads, follow links from other sites, or find you through search engines will make it easier to identify what aspects of your digital strategy are having the most success and which ones need more work. This data will also give you a better idea about what keywords and offers are the most attractive for customers, so you know which ones need the most attention.
Similarly, with mobile devices representing an ever increasing percentage of the e-commerce market, determining how many of your customers are arriving from mobile devices will help you know how you’re doing in reaching this important segment.
Your conversion rate
Once visitors arrive at your site, you should be measuring how many are converting and where they’re doing so. Track their engagement with the site, including how many pages they visit before they find themselves on a page that encourages conversion. Knowing which pages and types of offers have the most success with your customers will give you valuable information about how to refine your campaigns to better reach your customers.
Your cost per lead
As you measure your conversion rate, you should also calculate your cost per lead. How much are you spending on average for every lead you acquire through your marketing efforts? Just divide the total cost of each marketing campaign over the course of a particular timeframe by the number of people who converted in that period. Armed with this statistic, you’ll be able to see how one marketing campaign compares to another in terms of success.
Your number of return visitors
Page popularity and customer engagement are measured not only by the number of people who find your site, but also by the number of people who return more than once. This will give you insight into the number of people who view you as an authority worth remembering. The more engaged your page visitors are and the more memorable your brand is, the higher your conversion rate will be.
Your cost per customer
You should also carefully monitor the final cost for every customer you gain. This, combined with your other metrics, will let you see how well your campaigns are performing and how many new customers you’re pulling in for every dollar you spend. These statistics can be particularly helpful when convincing others in the company to maintain or increase the marketing budget.
Marketing metrics can be valuable tools for improving your campaigns and learning how well they’re performing. Metrics take the guesswork out of determining if something was a success. When you pay attention to these five key areas, you’ll have a very good idea how your marketing is doing.