In the era of technology, companies have shifted their marketing efforts to the internet. With the continuously changing technologies, it’s important for marketing teams to figure out what’s working and what’s not. With so many metrics to determine what is being effective online, companies need to concentrate on the ones that truly matter. There are countless metrics available to marketers, however only seven are critical in measuring performance across digital channels.
Clickthrough rates: This is the most common metric. While it is important for online marketers to keep track of this metric, it is often relied on too much. Clickthrough rates should not be used as the key metric.
Brand perception lift: This takes a defined group of people and measures the change in their perception of a brand. It then compares their perceptions to people in a controlled group of people who were not exposed to the messaging.
Qualified Reach: This is a metric that every online advertiser should be using. It’s important because it summarizes two important aspects: quantity and quality. They are measured with this metric by reading the number of individuals and the behaviors of those individuals. If a user performs a particular action, this indicates an interest or intention of that consumer.
Engagement Score (ES): This set of metrics measures how much magnetism of ads and content.
Efficiency metrics: This includes impression, lead, order, cost per click, etc. These metrics can help online advertisers find the efficiency of a marketing campaign.
End Action Rate: This represents the end goal of the content or advertisement. A sale, download or form completion can be included in End Action Rate. To measure the success of the campaign, this metric is essential.
Return on investment: This metric is essential to measure the value created by a marketing campaign. This metric can be very useful when marketing teams are assessing the return investment of new media.
Some metrics are more important than others. For a successful marketing campaign, online advertisers need to use the proper metrics and measurement framework.