With the number of marketing metrics in the new age of marketing, your company would be at a major disadvantage to not utilize these amazing tools.
These metrics will give your company important information that can potentially skyrocket your business such as who’s looking at your website and how engaged they are in it. By learning these metrics you can see what works well and what needs to be tweaked to get the best results from your marketing strategy.
A qualified lead is someone who has the highest chance of purchasing your product. This ideal customer is also known as a buyer persona, and you can create this buyer persona by finding a person who is most likely to need your product. Once you have found a qualified lead you can target your business towards them to get the most engagement possible.
Cost per mille
A super bowl advertisement or a YouTube advertisement, which one costs more? Well obviously the super bowl advertisement, but how much more? CPM refers to the cost per 1,000 impressions or people that view your advertisement. If you’re trying to reach people in certain industries you’ll have to pay a higher CPM so that you can target a more particular audience.
Clicks, calls, visits
It’s extremely important to know that your marketing campaign is being shown to people who might be interested in your product. When tracking your clicks, calls, and visits, you’re able to see if your ads are targeting the desired audience. If not, then it’s a good indicator that the marketing campaign should either target a different audience or should modify the advertisement to trigger more engagement.
Someone who visits your website and then immediately leaves is known as a person who “bounces” through your website. A higher bounce rate means people are more likely to leave your website as soon as they look at it. This could be a result of your website being poorly designed or being targeted to the wrong audience. By tweaking your website design and measuring the progression or your bounce rate, you can see what works best on your website. By changing your target audience, you might find a better bounce-through rate as well.
The conversion rate measures the people who end up on your landing page and become a customer by purchasing your product. The higher your conversion rate the more people on your website that are becoming customers. There are lots of ways to increase your conversion rate such as improving your website, including social proof, tracking your site’s interaction, adding live chat, testing your offers, and more. These tips can help you gain lifelong customers that buy your products for years to come because you are a trustworthy and open company that makes the site convenient for the customers.
Using these marketing metrics will give you a better understanding of your business as well as its consumers. By utilizing the information found in these metrics correctly, you’ll be able to optimize your business and create the best possible experience for your customers.
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