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The 5 Marketing Metrics That Matter Most

Finance

Running a successful company relies on a number of different things. You need to manage an effective staff, reach sales quotas, and keep on top of your inventory. Perhaps the most important step in operating a business is finding and securing your customers. Without constant engagement and growing your client base, you’re going to have trouble hitting your quotas or actually making sales. The people you’re reaching are the most important element to your company, so it only makes sense that you work to keep them at the center of everything you do.

So how do you reach these customers and grow your client base? This is what marketing campaigns are for. Marketing is all about getting the word out about your products and enticing certain customers to invest in what you’re selling. For this reason, many companies will have a full marketing team working day and night to track numbers, learn about consumers, and create new brand campaigns. To find the most success, you need to track different metrics and deliverables. Do the research to be sure your marketing strategies are paying off. With so many metrics to measure, it can be difficult to know what to depend on for your project plan. Here are the top five marketing metrics you’ll want to keep track of to ensure success.

1. Coordination and Integration

The key to any good marketing plan is integration. With different marketing projects all happening simultaneously, you’ll need a methodology that helps you keep track of these different deadlines, posts, and campaigns. Invest in marketing project management to help keep you on track with prioritization and analytics.

Something as simple as a dashboard or filtered calendar will help you manage your workflow and keep up with the best practices. Create a global marketing plan that lets your entire creative team understand the what, why, and when of your marketing timeline. This can offer insights and share status updates to help with project completion and big picture collaborations.

2. Social Media Engagement

Marketing looks much different today than it did 20 years ago. In the current climate, social media is one of your most powerful tools for your marketing team. This is why you need to be tracking your social media engagement.

Watch how many people engage with your Instagram posts and see the hits you get on each tweet you send out. You want customers to truly interact with your social pages to try to get them invested in the company as a whole. Track your social media numbers and improve content to help make this happen.

3. Website Traffic

All your social media sites should eventually point customers to your website. This will be the place for them to ultimately leave their information or purchase a product. Website traffic can be improved through SEO techniques and other marketing projects. By studying these numbers, you can see new ways to improve your web presence overall.

4. Conversion Rates

Customers visiting your site is only half the battle. Ultimately, you are hoping for a conversion where they give you information for your database. This will then allow you to reach out to close sales or encourage further interactions in the future. Your conversion rates directly translate to more sales and success for your company so they are important to try to improve.

5. Return on Investment

Business owners spend a lot of money to develop great marketing strategies and try to get customers. You can actually track how much you spend per customer vs. how much they end up spending on your products. This is known as your return on investment. Ultimately, your ROI is your revenue, so this is a very important metric to be aware of.