Five Marketing Metrics Questions: Discover Which Metrics Matter Most
By : Alexandra L Watson -
With so much data available to marketers throughout the customer online journey, it’s crucial to determine which marketing metrics will define and measure campaign performance. While click-through-rate (CTR) may be the most common digital metric, it’s usually not the best indicator of success. Here are five key questions marketers can ask pre-campaign to identify which metrics should serve as key performance indicators (KPIs).
What are the main campaign marketing goals?
Metrics simply won’t provide value unless they are aligned with over-arching business objectives and goals. Determine which part of the “marketing funnel” you are targeting with your campaign (Awareness, Interest, Decision, Action) to identify the broad category of marketing metrics that align with that goal.
Who is the intended audience?
Consider the nature and needs of your target consumer, including the time spent with media. Choose digital channels that will meet your marketing goal(s) while also reaching a critical mass of your intended audience. Put metrics in place ahead of time to verify your reach and effectiveness with this audience, and to also bolster your understanding of audience behavior and affinities.
What are the delivery channels?
Next, consider your marketing channels to further refine the metrics available to you. Are you utilizing Facebook as a channel? Then review which Facebook Insight metrics reflect your marketing goal – for instance, Page “Likes” would reflect Interest more than measuring your Facebook ad reach would. Align the channel metrics with your desired marketing goal.
Is this part of a larger, multi-channel campaign?
If your campaign mixes traditional media with digital, be sure to consider the interplay between these channels in the overall consumer journey. Metrics such as website referral sources, shares, and assisted conversions may be utilized for a better perspective on campaign performance. Consider building custom reporting through a tool like Google Data Studio to turn your data sources into integrated, informative dashboards and visualizations that are easily shared.
What was the typical path to conversion?
During and post-campaign, review the number of touchpoints it took to reach a desired consumer action. This will help determine ad frequency to optimize efficiency. Also determine the typical timeline and path to conversion, to better understand how the media mix moved consumers through the funnel to your goal.
Asking these key marketing metrics questions pre-campaign allows marketers to choose and setup measures that will give an accurate and informative indication of campaign performance and marketing return-on-investment (ROI). For more information on how Digital Measured can assist with your digital strategy or campaign execution, visit our Services page.