What are the key analytics that determines the progress of your marketing campaigns?
We must first establish the measures we will track in order to assess performance. Let’s take a look at some of the most prevalent ones found in today’s marketing channels. Please remember that some of these will be meaningless to certain of your campaigns, so just read through to get a better understanding of what these statistics mean and how they work.
This is the frequency at which consumers become purchasers or complete a targeted action or goal in digital marketing, whether it’s websites or applications. If it’s close to 1%, it’s usually a terrible number, and you can do better. Okay, maybe it doesn’t stink, but based on the channel, most people don’t want to admit to having such low conversion rates. Find some statistics that are both ambitious and achievable by doing some study or consulting with some team members. Not so high that you never achieve your objectives and end up accomplishing nothing.
Now, they can occasionally be broken down further, but for the sake of a full report, we’ll just call them Leads. In a nutshell, leads are prospective clients who have expressed an interest in your marketing efforts. Consider this: how do you know from where your visitors are coming? Is that email still active? Is it true that having a strong social media presence drives traffic to a website? Looking at traffic sources can provide answers to these questions.
Your analytics tools can track and report on certain channels. Email, social media, referrals, direct marketing, paid advertising, and organic marketing are all common sorts of channels. If you’re paying for many types of marketing, these channels are crucial to keeping track of. Remember, if we can’t show a return, we won’t be able to receive more money to conduct more work.
Obviously, these are just a few variables to examine when attempting to evaluate marketing performance. In order to prioritise which metrics you should be watching and why it’s always preferable to chat with the client personally or whoever the decision-maker is.