Looking at Marketing Metrics
As a marketer, metrics can sometimes seem to be both your best friend and your worst enemy. These statistics can offer valuable, unique insight into what works and what doesn’t, and can tell you a lot of important things about your readers, visitors and other people with whom you want to connect. The data you get from studying your metrics can guide you in making critical decisions, and can help you immediately realize when you need to make changes.
However, metrics can often be overwhelming or hard to understand, and it can be easy to feel like you are swimming in so many numbers that you can’t figure out which are the ones that really matter.
So it’s important to know which metrics are the most important, which should weigh most heavily in your decisions and how they all relate to one another.
In the Marketing Land post, The Digital Marketing Metrics Pyramid, Scott Brinker shares a graphic that illustrates six marketing metrics that connect low-level tactics such as PPC and social with broader methods of measuring performance.
At the bottom of the pyramid are cost-per-click and click-through rate, the most common metrics used in relation to pay-per-click tactics. Generally speaking, these two metrics go hand-in-hand, and ideally you want them to be weighted so that you have a high click-through rate and a low cost-per-click. But of course it’s not quite so simple because when it comes to clicks, quality is more important than quantity. A bunch of meaningless clicks don’t do you any good if they don’t represent quality leads.
As Brinker points out, the most important metrics—when it comes to determining the success of your tactics—are those that measure revenue. While this can sometimes be tricky, Brinker suggests the cost of acquiring a customer should be one of your primary considerations.
From a larger standpoint, though, he suggests that you look at all of the metrics and think about how they all are intertwined and relate to each other.
Confused by your metrics? At KEO Marketing, we can help you decipher them and figure out what they mean for your marketing strategy.