Marketing strategies start with clear goals, and tracking progress towards goals requires selecting innovative marketing metrics.
However, there are tons of different metrics you could potentially track. Therefore, it’s essential to know which ones you should be paying attention to and understand what they mean for your marketing.
What is Marketing Metrics
A marketing metric is a quantifiable variable that can be measured to track performance.
Why Are Metrics Important for Marketers?
They are not just vital for you; they are significant for your entire business. Without it, it’s impossible to know precisely what impact marketing has on the organization.
The marketing teams make their metrics available, company-wide, for anyone curious to see their performance.
Examples of Marketing Metrics
There are tons of different metrics a marketer could use in tracking. It has been broken down into categories. There’s no need to feel like you need to report on, or necessarily understand, all of these right now. Instead, consider this a valuable resource.
General Marketing Metrics
Measures the level of familiarity your target audience has around your brand or product.
Customer Lifetime Value
How much revenue a business will generate per customer over that customer’s lifetime.
Customer Acquisition Cost
The expense of activities required to earn one customer.
Return on Investment
How much profit per dollar spent on marketing.
Tracks sales growth over time.
The percentage of visits that result in the desired action (like completing a form or making a purchase).
The raw number of sales leads brought in by marketing.
Customer Share (By Category)
The percentage of customers in a given area or industry that are your customers vs your competition.
The percentage of customers in a market that buy from you vs your match.
A metric for determining how likely a potential customer will purchase.
Net Promoter Score
A tool used to measure customer loyalty and sentiment toward a brand.
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