No marketer can avoid analyzing marketing metrics. With today’s martech and marketing innovations, marketers have access to various types of metrics and analytics to better understand their marketing performance. But when you start to delve deeper into identifying key digital marketing metrics should be a priority, all the time: Again, there is a different set of priority actions based on the specific goals, future plans, and primary business strategy of each marketing team.
While there will always be a big list of basic marketing metrics that you should never ignore, here are a few that should matter in measuring overall digital marketing effectiveness and performance.
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Assess brand awareness with more in-depth information
Most companies strive to create and grow their online presence, in fact, in a digitally driven business environment, a strong digital brand presence is integral to overall marketing success. This is why it is important for marketers not only to measure brand growth on social media (by subscribers, for example) and online search engines, but it is also important to measure the online brand impact, the speed at which social media subscribers are growing, what kind of engagement social media posts bring on various platforms. Another good way for marketers today to better understand just how strong the brand is online is to dive into the number of mentions online and on social media that the brand collects from customers, 3rd party websites, blog referrals, etc.), it also helps to better understand the most common types of mentions.
Break down other metrics like the number of people who consistently search for your brand through search metrics; In a way, it’s important to keep an eye on the number of organic visits to your website’s homepage. But it doesn’t stop there. Consistently identifying changes in these metrics by measuring performance or increasing search / organic visits over a period of time can help marketers and executives understand how their marketing efforts differ (social media marketing / content marketing plans / paid advertising where applicable etc.) really contribute to overall brand awareness online.
There cannot be specificities defined to measure the effectiveness of brand awareness, each marketer must set up their own parameters according to their quarterly goals or targets. But for marketing teams who are in the process of launching a brand awareness campaign, establishing a solid foundation for measuring future impact is essential so that the team can take corrective action at the right time. .
Marketing expenses per customer; By region
Keeping your marketing processes simple, efficient and results-oriented is not a difficult task. There are some areas that still need more tightening to ensure this. With all of today’s sophisticated marketing technologies, this can become commonplace for marketers, especially those with globally distributed processes and teams that end up doing a bunch of marketing activities. marketing that are not aligned and, therefore, are not being measured correctly. If a brand has a regional distribution of marketing teams, it is important to assess the cost spent on acquiring new converted leads in a specific time frame and compare it to the total number of successfully acquired customers by region. Regular use of a central system to record this data helps to streamline more than just marketing budgets, it can serve as a guide to improve marketing operations processes and basic marketing plans. This is how marketers can also improve their personalization techniques and localized campaigns.
Marketers who dig deeper into the metrics of each marketing channel (email marketing / social media marketing, etc.) can then work on an optimized plan that allows their marketing teams to start focusing on the channels that are right for them. give the most value in terms of the number of prospects that match their own target KPI. Understand the marketing ROI of each marketing channel used by the brand for its efforts based on the leads successfully converted, will also allow marketing teams to improve their martech investments as well, as this provides rich insight into what the marketing team might need most in terms of martech support.
It’s not just about measuring Marketing Qualified Leads (MQL)
In a digital world first, there are different ways to measure a prospect’s interest in a brand. But this is where marketing and sales teams need to work more closely together to create strong processes that allow them to centrally measure Sales Qualified Leads (SQL) and Marketing Qualified Leads (MQL) across the board. using a central platform like a CRM.
When the marketing and sales teams focus on creating centralized campaigns, it allows the marketing team to create a more seamless handover process. Marketing and sales can work closely together at this point to come to a consensus on how they want to nurture these leads together using personalized campaigns and unified messaging.
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Modern marketers must constantly keep an eye on various marketing metrics such as online visitors, returning visitors, online traffic growth and more. But every marketing team needs to dig deeper into their marketing metric and measurement systems to also break down the impact of marketing costs, marketing campaigns, and marketing strategies. Basic metrics can never be enough for marketers and there will always be a growing list of metrics to consider based on changing business environments and buying trends.
The difference is in identifying the most important metrics at the moment, metrics to align with immediate and short-term marketing goals, while constantly optimizing marketing processes based on those results.