Marketing metrics are measurable values that show the effectiveness of marketing campaigns. They are used to monitor, record, and measure the progress of marketing plans and campaigns over a period of time. Marketing metrics are important because they help marketers understand how effective their campaigns are, and inform them on how to optimize their current campaigns and plan for future campaigns. By measuring the results at every stage, marketers can know what works and what doesnt, and adjust their strategies accordingly.
Marketing metrics can vary greatly from one campaign to the next, but in general, they measure the effects of a campaign on audience actions. The most appropriate marketing metrics will be the ones that ultimately have the most impact on business goals, which may be sales generated for one campaign but incremental reach for another. Some examples of marketing metrics include:
- Marketing Qualified Leads (MQL)
- Sales Qualified Leads (SQL)
- Conversion Rate
- Brand Awareness
- Engagement Rate
- Cost per Lead
- Return on Marketing Investment
- Customer Lifetime Value (CLV)
- Customer Acquisition Cost (CAC)
- Customer Retention
- Net Promoter Score (NPS)
- Marketing ROI
Its important to track strategic metrics that are meaningful to the business, and to focus on the essentials instead of spending time on activities that may not be useful at a given point. By doing so, marketers can get a better understanding of the marketing performance and explain the effect it has on an organizations growth to company stakeholders.
