Marketing metrics are the primary tools for evaluating the results of the marketing strategies employed in your business. They will tell you if you are effectively reaching your target audience while optimizing the use of minimal resources.
We know that marketing has become a fundamental element to promote your brand or product and effectively reach the public. Therefore, those who are dedicated to marketing must develop the ability to measure the impact of this.
What are marketing metrics?
We can define marketing metrics, as all those marketing indicators used in your business to measure, evaluate or classify the distance that separates the position of the company from the scope of the objectives set. In a few words, to say how close we are to achieving the desired success at a given moment.
Benefits of marketing metrics for your business
There are many indicators to evaluate the progress of your venture. However, you must bear in mind that these metrics will not have any results if they are not effectively used by those who carry out the company's digital marketing policies.
Once the methodology to be used for the use of metrics and their correct use has been analyzed, you will be able to appreciate the importance and benefits that they bring to your enterprise. Among the most important we have:
They provide numerical and objective information on the performance of your business
Being 100% measurable, it can provide you with statistical information that is difficult to manipulate, so you will have true information on the development of the public with your brand or product, reducing uncertainty in the information.
Results in real time
If it is about digital marketing metrics, you should know that these are done through the interactions of the public with your product through the web. Therefore, you will have a real-time record of these interactions, being able to analyze or study the most feasible times for the promotion.
They allow you to adjust strategies
Given the dynamics in absolutely real numerical and time terms, you will be able to carry out the corresponding actions that allow you to adjust the strategies to accentuate or redirect your marketing objectives. This allows you to make your digital marketing flexible and dynamic.
Facilitates decision making
Analyzing all of the above, it facilitates decision making; hence the importance of using marketing metrics throughout the development of your business and not necessarily at the beginning or end of it. This will allow you to make timely decisions that are required.
The most used digital marketing metrics
We have mentioned that with marketing metrics we can achieve many benefits and as you can imagine, there are several used. Here, we present a simple and practical classification of the most used.
traffic marketing metrics
These are linked to digital marketing that is carried out through the web. It is usually one of the widely used marketing metrics due to its simplicity. Basically, they help anticipate the wishes of the client by analyzing variables that we detail below:
General traffic of visits or sessions
This variable refers to the number of times that the public visits or accesses our web portal in the course of a given time. The general traffic will give you an idea of the scope that you are achieving with your venture, by virtue of this, you can make comparisons of the number of visits in different periods to measure the success of your marketing strategies.
General user traffic
It helps you count the number of visitors that enter your page in a given period, unlike the previous one, this gives you the number of people who use your website, since the same user can visit it several times. It gives you useful information about where your website traffic comes from.
Channels or page views
It refers to the number of URLs that the public has consulted within the total number of visits made to your website in a given period. These visits can be of 5 types:
- Direct: when you type your address in the search engine.
- Reference: when they come to your website from another site.
- External traffic: if users follow a link on a domain other than yours.
- Organic: when access to your website comes from unpaid advertisements on your site.
- Social Traffic: people coming to your website from social media platforms.
General bounce rate traffic
Basically, we can say that the bounce rate is the number of users or visitors who make a single web page visit without taking any subsequent or different action. In this case, we can apply the concept to visitors to your domain who leave after visiting your domain.
This metric will provide you with information on whether your content published on your website is really relevant or if the page used for your marketing strategy is the correct one.
Pay Per Click (PPC) Marketing Metrics
We can define PPC as the marketing strategy used by the web platform of different pages to which a cost will be paid for each opportunity that the user or visitor clicks on the advertisement of your product, as long as the desired result is obtained; that is, if the user only displayed the ad without purchasing, the cost per click will be zero, it is generally used in platforms for the purchase and sale of products. The main metrics are:
Cost per Click (CPC)
It refers to the real cost for each click made by the user. It is also often called cost per impression (CPM) or cost per product acquisition (CPA).
Total Conversion
It allows you to determine how much your ads sell, as well as estimate potential customers and determine the number of actual customers captured. In a nutshell, we can tell you that this metric informs you of the level of effectiveness of your marketing strategy, by determining the number of customers that meet the proposed final objective, which is none other than the sale of your products.
Social media marketing metrics
The metrics of social networks have evolved in an amazing way and brought very positive results for entrepreneurs. This metric refers to the influence exerted by social networks and the interactions between their Internet users.
To delve deeper into these types of strategies, we recommend reading our article on influencer marketing , where you will find detailed information on the evolution of social media marketing.
These metrics seek to convert your audience not only into effective customers but also promoters of your brand through the different social networks. Among the metrics most used by companies and effective in achieving their marketing objectives, we can mention the following:
The Share Rate:
It will show us the amount of audience that our website manages to maintain, as well as the number of interactions that occur in a certain period of time. This will give us an idea of how important our content is to users or visitors.
The Engagement
It refers to the number of effective interactions made by users of our product through social networks. These interactions are usually the number of times our publication is shared, the number of comments and the number of "likes" left by Internet users, of course, all in a certain period of time.
Especially, this metric will tell us the level of addiction or commitment that the public will have with our product or brand, as well as the time they spend promoting it.
This metric will serve as a thermometer to measure, among other variables, the capture of a certain market segment and the level of attraction of our product on these. If it's too low for certain segments, it will allow us to re-edit our ads for that target audience.
growth rate
This metric will finally be decisive to tell us at a certain point in time, if our objectives are met satisfactorily. Simply, it will tell us if the number of interactions with our product has increased according to the number of subscriptions.
This metric is often used to measure a large number of digital marketing tools, such as emailing or email advertising, the number of downloads of videos or images that refer to our products or simply the time that the public spends on our website. page.
You must keep in mind that marketing metrics are usually as varied and numerous as the number of goals you set for the growth of your business. Likewise, we remind you that the tools to use will depend on the nature of your objectives and the product you want to promote, however, in the advancement of the digital age, there is no offer that cannot be promoted through digital marketing and there the most used metrics that we presented earlier.