Any marketing activity should bring results that justify the investment. In order not to waste money and understand which promotion methods work best, organizations use metrics to objectively evaluate advertising strategies. Marketing indicators allow you to evaluate how effectively a business is developing. In this article, we will consider the most important criteria for analyzing advertising campaigns.
Marketing Performance Metrics
Marketing key performance indicators (KPIs) serve as benchmarks for marketers, providing a clear system for assessing the success of various advertising initiatives. In today’s environment, when more and more companies are adopting a data-driven approach and seeking to telemarketing data make data-driven decisions, choosing and understanding the right metrics is of paramount importance. These indicators provide insight into the effectiveness of the marketing campaigns used, and most importantly, help to predict trends and form new strategies.
How is marketing effectiveness assessed?
Marketing effectiveness evaluation is usually conducted either after the end of a campaign or at the beginning of a new financial year, when the company is planning and making budget decisions.
In both cases, the following data will need to be analyzed:
- Detailed information about promotions, including sales times and promotion costs.
- Sales data for the period under review.
- Website traffic during a marketing campaign or over a period of time, including information about target keywords, ads published, and traffic sources.
- Statistics on the effectiveness of email newsletters, SMM marketing, SEO, blog posts and other online marketing efforts.
- Marketing budget and expense data.
When conducting marketing performance analysis, it is important to be able to compare data with other campaigns or time periods to more accurately determine the factors that influenced the success or failure of the actions taken.
Key Marketing Performance Indicators
Marketing metrics include the following metrics, classified by category.
Financial indicators
- Sales revenue : revenue generated from a campaign.
- Customer Acquisition Cost (CAC) : The amount it costs to acquire a new customer fax Lead through marketing activities.
- Return on Marketing Investment (ROMI) : A measure of marketing effectiveness based on the return on investment.
- Customer Lifetime Value (CLV): The total revenue generated by a customer over the entire duration of the relationship.
- Average Order Value (AOV) : The average amount customers spend per transaction.
Brand recognition
- Brand mention volume : the frequency of mentions of your brand online.
- Website traffic : the number ce leads of visitors to the website.
- Brand awareness : The level of awareness of your brand among your target audience.
Lead generation
- Cost Per Lead (CPL) : The marketing cost to generate a qualified lead.
- Marketing Qualified Lead (MQL) : The number of users who responded to your marketing efforts.
- Qualified Lead (SQL) : The number of users who are ready to make a purchase.
Social Media Marketing
- Engagement : The number of interactions on social media.
- Number of followers : The number of people following your social media.
- Conversion rate : the proportion of social media users who complete the target action.
Paid Ads
- Cost per click (CPC) : The cost of paid ads divided by the number of clicks.
- Click-through rate : The number of clicks on an ad divided by the number of impressions.
- Return on Advertising Spend (ROAS) : The percentage of income generated from each dollar spent on advertising.
Key Marketing Metrics for Your Company
Marketing metrics help determine the effectiveness of advertising campaigns and optimize strategy in a timely manner. Monitoring KPIs helps achieve business goals and allows you to make informed and informed decisions.
Digital agency 360 MEDIA offers marketing audit services. Contact us to improve the efficiency of your team and increase sales in all channels used. We will help you implement a KPI system and pump up your marketing strategy!