JoAnne Gritter, COO of ddm marketing + communications, highlights the importance of evolving marketing metrics. Companies need to identify key metrics amid shifting trends, from established benchmarks to emerging industry shifts.
The days of placing an ad in a print publication and guessing the sales growth it achieved are over. Even social media growth, engagement rate and organic traffic have passed the point of being buzzwords. The landscape of marketing metrics is constantly evolving.
As we gain new ways to collect more granular and accurate data points, marketers need to understand which metrics are gaining popularity and why.
Here’s a quick rundown of which traditional marketing automation metrics are still worth watching and which new metrics deserve your attention.
Key metrics set to monitor
1. Social media metrics
Social media growth tracking provides insight into the expansion of your online presence and audience reach. In addition, engagement rate tracking allows you to measure the level of engagement and connection with your audience, indicating the effectiveness of your content and campaigns.
2. Website Traffic Metrics
Understanding website traffic is critical to evaluating the performance of your online platform. Organic traffic, visitors who find your website through unpaid search results, provides insight into the effectiveness of your SEO efforts.
Tracking traffic by channel helps identify which channels attract the most visitors, enabling targeted optimization strategies. Referral traffic indicates visits from external sources, illustrating the effectiveness of your partnerships and backlink strategies.
3. SEO metrics
Search Engine Optimization (SEO) is crucial to improving your online visibility and attracting organic traffic. Keyword ranking tracking allows you to track your website’s position in search engine results for specific keywords, guiding your optimization efforts. Google’s Quality Score evaluates the relevance and quality of your ads and landing pages, and influences your ad rank and cost-per-click.
4. User participation metrics
User engagement metrics provide valuable insight into the level of engagement and interest of your audience. The average pageviews per session indicates the depth of exploration and interest of your website content. Overall website traffic tracking allows you to track the volume and patterns of visitor interactions, informing content optimization and user experience improvements.
5. Conversion metrics
Ultimately, the success of your marketing efforts lies in converting visitors into customers or prospects. Conversion rate measures the percentage of visitors who take a desired action, such as making a purchase or filling out a form, reflecting the effectiveness of your conversion optimization strategies.
Return on advertising investment (ROAS) evaluates the profitability of your advertising campaigns by comparing the revenue generated with the amount spent on advertising, guiding budget allocation and campaign optimization efforts.
See more: Build a viewer-centric advertising strategy in OTT with open source technology
Emerging metrics to investigate
1. Data-driven personalization
Personalized campaigns are crucial to standing out in a competitive market, demonstrating an understanding of individual customer needs and preferences. Metrics include the success rate of personalization campaigns and customer response to personalized content.
2. Voice search optimization
Voice search optimization is vital to ensure visibility and relevance in an era where voice assistants are increasingly shaping consumer search behavior. Tracking metrics such as voice search impressions and voice search conversion rates is essential.
3. Data privacy and compliance
Prioritizing data privacy and compliance is essential to maintaining customer trust and loyalty in an era where data breaches and privacy concerns are prevalent. Metrics to consider include compliance compliance and customer trust metrics.
4. Video marketing
Video marketing continues to dominate content consumption trends, offering unparalleled opportunities for engagement and storytelling. Tracking metrics like video engagement and video content conversion is key.
5. Marketing of influencers
Influencer marketing remains a priority to foster authentic connections and drive purchase decisions as consumer skepticism toward traditional advertising grows. See metrics like influencer campaign ROI and audience sentiment.
6. Effectiveness of customer segmentation
Effective customer segmentation is key to delivering personalized experiences that resonate with diverse audience segments, driving engagement and loyalty. Metrics to watch include targeting accuracy and engagement with personalized content.
7. Brand defense metrics
Measuring brand advocacy is essential to harnessing the power of word-of-mouth marketing and leveraging the influence of loyal brand advocates. Look at metrics like advocacy reach and customer-generated content metrics.
8. Multichannel attribution models
Implementing multi-channel attribution models is important to accurately measure campaign effectiveness and optimize resource allocation amid expanding marketing channels. Evolving attribution models require tracking metrics like multichannel attribution success and customer touchpoint influence.
Balancing traditional and emerging metrics
Recent developments such as voice search and data privacy regulations and the proliferation of influencer marketing and video marketing have given rise to its plethora of useful metrics. Not all of these metrics will be relevant to your marketing success, but ignoring them could deprive your business of useful feedback.
At the same time, don’t ignore social media metrics, SEO, user engagement, and conversions that have been successful. Often, a successful marketing campaign will still rely on these numbers to determine how to activate new customers and retain your existing audience. How you adapt, adopt and integrate the old and the new will be critical to any successful digital marketing strategy.
What steps have you taken to integrate emerging marketing metrics to drive your business? Let us know Facebook, Xi LinkedIn. We’d love to hear from you!
Image source: Shutterstock
MORE MARKETING METERS
[ad_2]
Source link
