Are you tracking your marketing metrics?
Would you invest valuable resources into a marketing strategy, piece of content or digital asset if you didn’t know whether the effort would be worthwhile? Analyzing your marketing performance metrics can help you implement the most effective marketing campaigns for your brand and make the best use of your resources.
- Seventy-one percent of B2B CEOs think that marketers fail to generate the level of customer demand and qualified leads they expect.
- Top B2B companies are 58% more likely to track performance metrics for their content marketing.
- Marketers estimate that they waste 26% of their budget on the wrong strategies or channels.
Why it’s important
To earn the best ROI, you need to track the success of each strategy or asset you implement for your company. Tracking your marketing metrics informs you on how to adjust or maintain your strategies to ensure you are on the right track for company growth.
How to track
Establish a clear goal for each marketing strategy. Doing so will help you determine which metrics to track in order to assess its effectiveness. Choose a time frame — such as month to month — to regularly examine each metric. This will help set parameters for comparison. Determine the average results you see within your parameters and use that to set a benchmark and milestones to help weigh future growth.
Users: The number of visitors who view your website.
Source: The way that your users arrived at your website, such as search results or direct links.
Pageviews: The number of times a single webpage has been viewed by a user.
Sessions: The number of visits your website receives consisting of one or more pageviews or other interactions.
How to improve
Implement SEO tactics like tagging keywords or improving page load speed to rank higher in search engine results. A consistent content publication schedule will increase your visibility and give you more chances to take advantage of SEO and social media posts. Depending on which sources yield the most traffic, you may choose to prioritize SEO tactics or awareness campaigns on social media.
Average time on page: The length of time a user spends on a single page.
Average session duration: The length of time a session lasts.
Bounce rate: The percentage of users who leave the website after visiting a single page.
Click-through rate: The percentage of users who click on a provided link.
Conversion rate: The percentage of users who subscribe to a newsletter, purchase a product or otherwise perform a desired action.
How to improve
Quality content is key when improving engagement with your brand. Make sure all content is relevant, solves paint points and educates to earn views and keep the reader’s attention. Infographics and videos are excellent forms of visual content that promote engagement. A good user experience (UX) design for your website can also improve engagement by providing a better browsing experience. Ad retargeting — the process of serving ads to visitors after they leave your website — can encourage conversions by drawing a user back to your website.
Reach: The number of viewers who can possibly see your post.
Engagement: The number of likes, link clicks, comments, shares and other interactions each post receives.
Email open rate: The percentage of individuals who open your emails.
How to improve
Social media and emails are great ways to increase awareness and keep customers updated on new products or offers from your brand. Make sure your subject line and preview text are centered around the benefit your content provides, such as ways to increase customer engagement, to entice readers and increase open rates. Deliver the insights that you promise so subscribers don’t lose interest. Paid promotional posts can also ensure your social media content reaches more people and doesn’t get buried by newer posts.
To maximize ROI on your marketing strategies and digital assets, make sure you are reaching the goals you have put in place. Following the performance metrics of your brand’s marketing will help you track the success of each one and, when needed, adjust strategies for greater results.