When it comes to online marketing, it can be difficult to gain a solid grasp on stats that are important and actionable versus stats that carry little to no weight regarding the success of your online marketing efforts.
In this article, we talk about the various marketing metrics and statistics that should be considered to accurately measure the success of your online marketing campaigns. It is important to keep in mind that your online marketing campaigns can always be optimised to suit specific preferences and to cater to specific markets.
The Basics on Marketing Metrics
Marketing metrics refer to various measurable elements of an online marketing campaign. These are used to establish a baseline on current campaign performances, identify areas of improvement and optimisation, and evaluate the current efficiency of your campaign. They can also be used for goal tracking and measuring ROI.
Dependent on your specific goals and outcomes for your online marketing campaigns, important metrics will vary based on these criteria. For example, if you want to build an audience on social media, your follower count will be a determining metric to measure the efficiency of your efforts. Whereas follower count does not necessarily fall under important metrics for other online marketing campaigns on social media.
In the end, marketing metrics are data points that assist online marketing experts and businesses to gain a comprehensive understanding of the performance of their current campaigns and marketing efforts.
Primary Marketing Metrics
When setting up an online marketing campaign, it is crucial to identify the primary marketing metrics that will determine the success of your campaign. These metrics must align with your goals, as mentioned earlier. They must also be actionable to ensure that they can be optimised accordingly.
Marketing metrics can be split into 2 main categories: vanity and actionable. Vanity metrics are those that reflect data points that are not related to measuring the success of your current online campaign. An example of vanity metrics would be your website’s organic rankings when you are running a Google Ads campaign. Yes, it is always good to have high organic rankings, but fairly pointless when your ads are your focal point.
Keeping with the example, when running a Google Ads campaign, your actionable metrics would include ROI, cost per click/conversion, bidding prices, and monthly budgets to name a few examples. There are several vanity metrics that can be distracting and not accurately reflect the current success of your marketing endeavours – bringing us back to the importance of identifying your goals and establishing the correct metrics that will accurately display the success rate of your online marketing efforts.
Trust Your Marketing Experts
Laetus Life Consulting has a team of online marketing experts who can assist you with identifying actionable metrics from vanity metrics. Our team is geared to assist your business with SEO solutions, social media marketing solutions, web development solutions, and Google Ads campaign setup and management solutions. Take control of your online marketing efforts with us in your corner!