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Marketing Metrics: 21 Metrics You Must Keep Your Eyes On

Marketing metrics vary.

There are lots of them.

Sometimes marketers are puzzled about which metrics to take into account. 

Even if you happened to track all possible metrics – you won’t get a positive dynamic. 

Instead, what you need to do is focus on those metrics that would make sense for you in terms of revenue goals. 

So, what metrics across main marketing channels should you consider? 

In this guide, you will get familiar with 21 marketing metrics to keep your eyes on. 

Shall we begin?

Basic Marketing Metrics

Basic marketing metrics are focused on revenue mostly. Therefore, it is critically important to track these metrics for the representatives of every business niche. 

Let’s review them:

 

  • Revenue Growth

 

This metric stands for the level of income increase of the company. As a rule, marketers count the difference in revenue numbers before the campaign launch and after its ending. 

The Revenue Growth formula is the following:

Revenue Growth (%) = (revenue at end – revenue at start) / revenue at start = the result × 100

 

  • CAC

 

Customer Acquisition Cost represents how much money you spent to get a new customer. Thus, the lower this metric, the better result for you. 

This metric works together with other metrics. It helps you count how much money you can spend to acquire new customers in the future. 

Formula: Total amount spent on marketing / Number of acquired customers = CAC.

 

  • Conversion Rate

 

With the help of Google Analytics, you can track conversions easily. This metric reveals the number of conversions based on your marketing goals. It can be direct sales, signs up to trial, whatever requires potential customers to complete the action. 

 

  • Share of Voice

 

This metric gives you a clear understanding of how you are visible on search compared to your main competitors. 

SOV (Share of Voice) correlates with market share – if your SOV is 35%, market share metrics will be the same. 

Formula: Brand visibility / Total potential visibility = Share of Voice

You can’t calculate SOV for all your channels simultaneously. It won’t work in that way. Hence, calculate it for each channel separately. 

 

  • Return on Investment

 

ROI calculates the benefit a business owner will receive in relation to the investment. 

Formula: (Revenue attributed to marketing spend – Marketing spend) / Marketing spend = ROI

One of the easiest channels for calculating Return on Investment is paid advertising. 

Why?

Paid advertising has pixels that track the journey of the potential customers. Once your lead converts into a paid customer, the pixels will notice that conversion. 

Remember, the higher the ratio, the greater the benefit you get! 

 

Metrics of Retention

A true marketing professional follows the stages of the marketing funnel when developing a business strategy. And the last stage of the funnel is retention. When you need to apply strategies that would help you ensure users become your loyal customers. 

So, what are the metrics that you should track at this stage? 

 

  • Lifetime Value

 

Lifetime Value reveals how much your customer pays you during the entire period of the relationship with your business. 

Formula: Average order value x Average annual purchase frequency x Average customer lifespan = LTV

There is no sense to calculate LTV if your business is new. The reason for this is simple – you don’t know how long your customer is going to pay you on average. 

 

  • Churn

 

Churn rate shows customers who stopped paying you. This metric is vitally important for SaaS companies that count on the recurring revenue they get. 

Formula: (Revenue lost during period / Revenue at start of period) x 100 = Churn Rate

If you noticed that the level of churn rate is high, you should reconsider the positioning of your products. It happens because your customers start canceling their accounts. In other words, they are not happy with the product anymore. 

 

  • Repeat Purchase Rate 

 

The goal of this metric is to calculate the percentage of customers who buy your products regularly. Especially, Repeat Purchase Rate extremely makes sense in an eCommerce business. 

Formula: Number of regular customers / total number of customers = Repeat Purchase Rate

If you observe a high level of Repeat Purchase Rate, it means that your retention marketing strategy works well.

If you observe a high level of Repeat Purchase Rate, it means that your retention marketing strategy works well.

 

  • NPS

 

NPS or Net Promotional Score works as an indicator of a customer satisfaction level. It helps you see unhappy customers who can churn in the future. 

Formula: Percentage of promoters – Percentage of detractors = NPS

You can activate the NPS metric by creating a survey. It may include one question like “How likely are you to recommend our service to a friend or colleague?

Customers who range from 0 to 6 are detractors, 7-8 are passive, and 9-10 are promoters. This survey results report will help you understand how people are satisfied with your service. 

Metrics for Search Engine Optimization

SEO gives businesses opportunities to get customers organically. However, success depends on the strategies you use in practice. If you experience traffic growth, you are on the right track. 

Here are the most common SEO metrics to keep under control:

 

  • Growth of Backlinks

 

Backlinks are one of the ranking factors that Google considers. They help rank your pages in search and drive traffic to your site. 

How to calculate backlink growth?

One of the most straightforward ways is to analyze your backlink profile with Site Explorer from Ahrefs. 

First of all, review the growth of referring domains by observing the infographic as shown below:

Secondly, pay attention to the report “Best by Links’ Growth”. This report illustrates the pages that lost or acquired backlinks for the past 1, 7, and 30 days.

 

  • Brand Mentions

 

Do you know how brand awareness works?

It’s easy. 

You just spread the word about your brand. While brand mentions show how often your brand gets references within the niche. 

Therefore, you need to track brand mentions. Especially, unlinked mentions that deprive you of the opportunity to acquire one more backlink. 

How to track brand mentions?

Create “alerts” with Ahrefs. 

You will be receiving all opportunities detected weekly or monthly.

Email Marketing Metrics

Email is one of the owned channels. It is fully under your control. You have the right to reach out to your subscribers personally. And if you want positive results from your email marketing activity, you should track the following metrics:

 

  • Subscriber Growth Rate

 

This metric shows the percentage ratio of the number of subscribers at the start and end of a certain period. 

Formula: (Subscribers at end of period — Subscribers at start of period) / Subscribers at start of period = results x 100 = Subscriber Growth Rate (%)

By tracking this metric you will be able to find new ways on how to engage with customers. 

 

  • Open Rate

 

Open Rate shows the percentage of recipients who opened an email.

Formula: (Emails opened / (Emails sent — bounces)) x 100 = Open Rate

Even if you see that Open Rate is high, it doesn’t mean that your messages have been read by subscribers. People can open them but not necessarily read. 

That’s why it makes more sense to count on the next metric – Click Rate. 

 

  • Click Rate

 

Click Rate shows the percentage of people who clicked the link in your message. 

Formula: (Emails clicked / (Emails sent — bounces)) x 100 = Click rate

When the person clicks the link in your email, it means that your message has been read as well (or skimmed through). Click rate is a great metric that reveals the level of email engagement.

 

  • Bounce Rate

 

When your email wasn’t delivered due to some technical reason, it can be counted as “bounced”.

Formula: (Number of bounces / Emails sent) x 100 = Bounce Rate

Verify your mailing list. Perhaps, it contains lots of invalid emails you should get rid of to save online reputation

 

  • Unsubscribe Rate

 

This metric shows the number of people who decided to unsubscribe after receiving your emails. 

Formula: (Unsubscribers / (Emails sent — bounces)) x 100 = Unsubscribe Rate

If you have a lot of people on your email list, it is important to track the number of unsubscribes. 

Remove all the emails of the recipients who unsubscribed from your email campaigns. Instead, find a potential reason why users might unsubscribe from your upcoming emails.

 

Paid Advertising Metrics

It is believed that tracking paid advertising metrics is the number one priority. Why? Because it costs you money. If your paid advertising campaigns don’t pay off, you must stop them. 

To find out if paid ads prove their value, you should track these four metrics:

 

  • Quality score

 

Quality score shows whether your ads are relevant to particular leads. 

Likely, Google calculates it automatically. The process of calculation is based on three factors – landing page experience, ad relevance to the specific keyword, and expected CTR. 

The higher Quality score the ad has (on a scale of 1-10), the less it costs. 

 

  • CPC

 

Cost Per Click reflects the price you will have to pay once users click your ad. 

Formula: Total cost of clicks / total number of clicks = CPC

To get a better understanding of the price policy for CPC, you can find the information in Keywords Explorer tool.

Thanks to this report you will be able to plan your bidding strategy more accurately. 

 

  • Cost Per Conversion

 

It helps you find out how much it would cost per conversion from the ad. 

Formula: Total Amount Spent / Total Number of Conversions = Cost Per Conversion

This metric is very beneficial when it comes to analyzing your marketing budget. 

 

 

  • ROAS

 

Return On An Ad Spend counts the return of the money you spend on the ads. 

Formula: Total Conversion Value / Amount Spent = ROAS

Don’t confuse ROAS with Cost Per Conversion metric. The first one deals with money only, while Cost Per Conversion includes other types of conversion. 

 

SMM Metrics

Let’s admit, it is quite difficult to track social media marketing metrics. Social channels change their algorithms often that have a direct impact on analytics. 

What’s more important, each social channel has different metric standards. For instance, a video view on YouTube is 30 seconds, on Facebook – 3 seconds. Therefore, you shouldn’t track all social media marketing metrics. The same differences are common to social media posts as well. 

Nevertheless, there is a single metric that is worth your attention:

 

  • Engagement

 

The level of engagement is shown via users’ reactions to your content. These reactions are – likes, shares, reposts, retweets, comments, impressions, etc. 

It is impossible to track engagement manually. Hence, use specific social media tools for this purpose, like BuzzSumo, Buffer, and many more. 

 

To Sum Up

If you are obsessed with monitoring Google Analytics every day, it doesn’t mean that you have all the important metrics in one place. 

Besides, marketing metrics aim to show you the ways on how to improve your overall marketing strategy to attract new customers and retain old ones. 

In this blog, we have explained 21 marketing metrics that embrace the major marketing channels. Keep on tracking them and the results will impress you. 

Do you have something to add?

Feel free to share your suggestions in the comment section

 

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