As marketing professionals at Media Shield, we are constantly working to grow the ratios of an exceptionally long list of KPIs (Key Performance Indicators) or what we call it, the DM2OE (Digital Marketing Measure of Effectiveness). The key is to consider measurement strategies before executing the marketing plan. This will allow knowing what to maintain, change, or improve in the established campaigns or actions.
When talking about marketing metrics, we must mention the measurements that impact not only this area but the company in general, especially its directors, who must be targeted directly for their credibility.
You need the metrics that help you show your results by speaking clearly about the total cost of marketing: salaries, campaign costs, benefits, and, of course, customer acquisition (conversion). It is the best way to understand the effectiveness of your actions.
With the help of these metrics, you will be able to know how adequate the effectiveness of your area is in terms of customer acquisition and the effort it represents. Many marketing leaders use these metrics, such as the customer life cycle, as part of their strategy.
Below, we share some of the most common types of metrics in marketing we use.
- General or area metrics: they are focused on the relationship between organizational effort and investment, with respect to customer acquisition or conversion.
- Campaign metrics: measure the behavior of the target audience with respect to a particular campaign, both in the acquisition of leads and ineffective sales.
- Product metrics: they indicate the level of popularity of a certain product and its characteristics compared to the competition.
- Digital metrics: with respect to the presence on the Internet, they measure the acquisition of followers, the times they search for your company, in addition to the level of interactions and conversion, for example.
Often, each metric you develop belongs to two or more of these types, according to the specific objectives you have and the most widely used communication channels within your company.