11 Metrics Every Marketing Manager Needs to Track

How successful are your marketing campaigns?

Believe it or not, this seemingly simple question puzzles many marketers and business owners I work with.

You’re running ads, and customers are buying what you’re selling, so your marketing efforts must be working, right? Not necessarily.

Don’t get me wrong. I’m not saying this means your strategies have failed. In fact, some of your campaigns may be working great. But you can’t make any assumptions.

The only way to know for sure whether your campaigns are working is to measure the results.

By tracking certain metrics, you’ll also be able to save some money. You don’t want to dump money into campaigns that aren’t working.

Here’s the problem. Sometimes it’s difficult to directly tie one promotion to a sale.

That’s why you need to track several metrics and infer based on the results.

This statement holds true for all marketers, regardless of your industry or the size of your business. It doesn’t matter if you’re running expensive campaigns or using tactics to market your company on a budget. You need to track the results.

As I’m sure you know, there are dozens of business metrics you could be tracking. But not all of these will benefit your marketing strategy.

That was my inspiration for this guide. I narrowed down the top 11 metrics every marketing manager needs to track to be successful.

Use this guide as a reference to measure the success of your marketing campaigns moving forward. Based on the results, you’ll be able to tell what’s working and which strategies need improvement.

1. Average order value

The average order value, or AOV, is one of the first things you need to prioritize as a marketing manager.

This metric will help you figure out how to get your existing customers to spend more money each time they shop. It’s arguably the most important number to track when trying to understand consumer spending habits.

The average order value formula is quite simple:

AOV 1

Just divide your total revenue by the total number of transactions.

You don’t need to look at it every day or after each campaign. AOV is a metric that you need to keep an eye on over time.

If it rises at certain times, you could potentially connect it to campaigns run during that time.

But if it falls, you’re obviously doing something you want to avoid. These issues need to be addressed.

In my consulting work, I see many businesses using only their number of transactions to gauge success. Is it great to make 100 sales in a day? It depends.

I’d rather make 50 sales for $2,500 than 100 sales for $1,000. Or even better, 100 sales for $6,000.

Do you see the difference? That’s where average order value comes into play.

You want to try to get as much money as possible from your existing customers. To do this, you’ll want to encourage them to add more items to their carts or buy other products of higher values.

Both of these will increase your AOV.

2. Customer lifetime value

The concept behind customer lifetime value is simple.

This metric will tell you the amount of money a customer will spend before leaving your business. Here is the formula to calculate it:

CLV

Customers who stay with your business for a long time become more profitable.

As a marketer, you need to make sure the lifetime value of your customers is as high as possible.

The best way to do this is by focusing on customer retention as opposed to customer acquisition, which I’ll talk about in greater detail shortly.

Yes, you want new customers. But it’s easier to market to people already familiar with your brand, products, and services.

Research shows that your existing customers will spend 67% more than new customers. This will also increase your average order value, which I just talked about.

Keep in mind customer lifetime value when thinking about your acquisition strategies as well. All too often I see businesses make the mistake of shying away from certain strategies because they don’t seem profitable.

But that’s only because they’re using the AOV to make this decision. If the AOV is less than the acquisition cost, they won’t use that acquisition strategy.

However, they’re not accounting for how much that customer will spend over time. That’s why this metric is so important to track.

Plus, you can also learn how to use lifetime value to create a Facebook audience that actually converts.

3. Sales conversions

This connects to a point I made earlier.

How can you tell if the number of sales you have each day, week, or month is sufficient?

To a certain extent, the number of transactions isn’t that important. What’s much more telling when measuring the success of your marketing efforts is your sales conversion rates.

To calculate this, divide the number of sales by the number of visitors to your website.

Here’s a look at the average sales conversion rates for ecommerce shops.

sales conversions

Based on this information, 3.3% is adequate. But who wants to be average?

By regularly tracking your sales conversion rate, you’ll be able to determine how much of your traffic is actually converting.

Having low conversions does not mean your marketing efforts are at fault. If people are navigating to your site at a high rate, something else could be preventing them from converting.

That’s when you need to analyze your web design. Websites with simple designs have higher conversion rates.

You’ll never get a 100% sales conversion rate. But you should always try to increase this number.

These people are already on your website. Sometimes they are just a click or two away from buying. It’s your job to make sure that happens.

4. Cart abandonment rates

Calculating cart abandonment rate is simple.

Divide the number of transactions by the number of carts created. You want this metric to be as low as possible.

As I just pointed out, when someone adds something to a shopping cart, they are only a step or two away from converting. You need to identify what stopped them from finalizing the purchase.

These are the top reasons for shopping cart abandonment during the checkout process:

cart abandonment

Similar to sales conversions, your cart abandonment rate may not be a marketing issue.

There could be a problem with your site. But you don’t want to let your marketing efforts go to waste.

Change your promotions if you have to.

As you can see, high extra costs ranked first on the list of reasons for cart abandonment. Don’t charge your customers for shipping, and highlight that in your marketing campaigns.

You’re doing a great job of getting people to visit your site and add items to their carts. Now you just need them to convert.

5. Revenue by reference source

So, you’ve got lots of website traffic. But where is it coming from?

By tracking the revenue by referral source, you’ll be able to determine which channels are the most profitable for your business.

This is important for both B2C and B2B companies. Here’s a look at the top channels for leads and revenue on the B2B side:

revenue by source

You might be getting tons of traffic from one source, but if you’re not making money from those leads, you need to reevaluate your strategy.

On the flip side, maybe traffic from a certain source is not high, but the revenue from that channel is the highest.

You need to figure out how to get more traffic from your marketing channels yielding the highest revenue. At the same time, you must learn how to increase conversions and the AOV from your distribution channels resulting in the most traffic to your site.

6. Social media engagement

I’m sure social media is a huge part of your company’s marketing strategy, as it should be.

You’re posting content on all your social channels each day. That’s great. But how effective are those posts?

Again, the only way to find out is to measure the results.

These are the top metrics used to measure success on social media:

engagements

The information you get from tracking these metrics will be extremely beneficial to your marketing strategy.

You need to analyze the difference between your top performing content and the posts with lower engagement. Figure out why certain posts do better than others.

For example, you may find out your videos get more comments and shares than your photos.

Obviously, you’d want to run more video campaigns on social media once you know that.

7. Email open rates

Your email open rates should be easy to track. I doubt you’ll have to do any manual calculations for this metric.

Whichever software you’re using for email marketing should automatically do this for you.

That said, don’t just look at these numbers. Analyze them.

Are your open rates fluctuating? Do they stay consistent?

Find out what you need to do for your open rates to improve.

These are the top reasons why people open emails:

open rates

If your open rates are low, I recommend reading my guide on how to increase open rates with your subject lines.

You spend much time building your email list and segmenting your subscribers accordingly.

Then, you send various email campaigns to each group of subscribers. Don’t let those efforts go to waste.

Your message is useless if nobody reads it. That’s why you need to track your open rates for every campaign and compare those percentages over time.

8. CTA click-through rates

Customers can’t spend money unless they click on your CTA.

It’s necessary to track the click-through rates of all these buttons.

It doesn’t matter what landing page the button leads to or what channel it’s on, you have to track it. Your ads, emails, website, and social media campaigns will all have CTAs.

Compare these rates to each other. Which buttons have the highest CTR?

Based on these metrics, you can hypothesize which wording or types of offers people are more likely to click on.

Then, you can run A/B campaigns to check your theory: test CTAs’ wording, color, size, placement, etc. This strategy will give you the most optimal results for your CTA buttons.

9. Customer acquisition cost

Earlier, I briefly talked about customer acquisition when discussing customer lifetime value.

You need to know your acquisition cost, or you might run the risk of going broke. Here’s the simple formula for you to follow:

CAC

If your acquisition costs are too high, you’ll need to change your marketing strategy or potentially even raise your prices.

But a price increase could have its potential pitfalls as well.

Customer acquisition cost is crucial for all businesses, but it’s especially important for startup companies.

Those of you with a newer company know what it’s like to have to manage a tight budget. Simply put, if your acquisition costs get too high, you’ll run out of money before you have enough customers to give you a sustainable income.

That’s why investors always want to know your acquisition costs before they’ll consider giving you a dime.

Lower acquisition costs will result in a higher ROI for your marketing efforts and make it easier for your brand to grow exponentially over time.

10. Keywords that drive traffic

Marketing managers need to prioritize SEO.

You can’t just rely on traffic coming from your distribution channels and people navigating directly to your website. Your company needs to be visible and have a high ranking through organic search results as well.

That’s why you need to track metrics for keywords related to your brand. Then you’ll be able to use SEO tactics to drive ecommerce sales.

Find out which keywords are performing the best and which keywords are the most competitive. Once you start using these words and phrases, you’ll need to track the success of them as well.

This information will be useful for your on-page optimization efforts as well as your PPC campaigns.

You don’t want to pay for keywords that aren’t driving traffic and sales.

11. ROI of influencer campaigns

Influencer marketing is growing in popularity. If you haven’t tried this strategy yet, I highly recommend it.

But you need to approach this tactic like every other marketing campaign. If it’s not profitable, you need to abandon it.

Don’t just blindly throw money at influencers without knowing whether those efforts are working. Track the ROI of each campaign.

Take a look at how much businesses are spending on their influencer marketing programs:

influencer

Furthermore, 39% of marketers said they planned to increase their influencer marketing budget in 2018.

And 90% of these marketers say they use engagement metrics to determine the success of their influencer campaigns. I talked about the importance of tracking engagement earlier.

Basically, you need to find out whether the money spent on influencers is generating a return on your investment.

One of the best ways to do this is by giving each influencer a unique promo code. It will make it easier for you to track which influencers are driving the most sales.

You need to cut ties with influencers who aren’t profitable and continue working with the ones driving traffic and revenue to your site. But the only way to determine this is by tracking the ROI of each campaign.

Conclusion

Nobody said being a marketing manager would be easy. Anyone could just throw together a campaign and run it.

Successful businesses track metrics to ensure their marketing campaigns are profitable.

If you’re not doing this, you’re throwing away money.

If you haven’t been tracking metrics related to your marketing campaigns, it’s certainly not too late to start.

Don’t get overwhelmed. Start going through the list I’ve outlined above.

Some of these metrics will be specific to individual campaigns, while others should be tracked over time to help you identify patterns.

I’m confident your marketing efforts will improve and you’ll see higher profits once you start tracking these 11 metrics.

What metrics are you using to track the success of your marketing campaigns?

Comments

  1. Social media engagement and conversion seems to be the most important needs for any online business. However, does Email Marketing convert the best? Because I’ve experienced with one website where the CTR was 1.5% for emails and only few clicked on the website links. I would be working for http://socialmediatree.in/digital-marketing.html for email marketing so need some suggestions.

    • LOVE SPELL CASTER (DR. GBOJIE) THAT HELPED ME BRING BACK MY DIVORCE HUSBAND CONTACT HIM NOW FOR ANY KIND OF HELP

      With so much in my heart i am here to express myself on how Dr. GBOJIE saved my marriage from divorce. Myself and my husband were having some misunderstanding and it was tearing our marriage apart to the extend my husband was seeking for a divorce. So i have no option than to go to the internet to seek for solution to my problem it was there i came across Dr. GBOJIE details and about how he has helped a lot of people by restoring there relationship. I contact Dr.GBOJIE and in less than 48 hours my husband cancelled the divorce papers. Now myself and my husband live together in peace and harmony all thanks to Dr.GBOJIE for saving my marriage from breaking up. Dr. GBOJIE contact information are via email: gbojiespiritualtemple@yahoo.com , gbojiespiritualtemple@gmail.com or call his phone number or WhatsApp: +2349066410185 .or check out his website :http://gbojiespiritualtemple.website2.me

  2. Nice information
    Thanks for sharing …
    https://www.rehalon.com/

  3. I really appreciate your work.
    I’m loving your posts and blogs. Some really helpful tips hints and information. Your posts are fun and informative, keep it up.

    https://ghaintpunjab.com

  4. There are quite a few other metrics I consider extremely important from a marketing team point of view that belongs to the group of visibility metrics.
    https://www.webdukes.com/

  5. Your Website Is Nice And Informative. Please Keep Continue Such Kind Of Good Effort. If you want to know who is the Most Beautiful Punjabi Actresses than visit our website : http://funlover27.blogspot.com

  6. I really appreciate your work.
    I’m loving your posts and blogs. Some really helpful tips hints and information. Your posts are fun and informative, keep it up

    Eggless Chocolate Cake

  7. iMedia Solutions :

    I clearly remember that last time when I visited your site I was so impressed and this time very very impressed, thanks for the good content.

  8. Johnell Brooks :

    Thanks for the list of metrics! I’m currently working on the website design and lucky to come across your blog. UI is also crucial for the cooperation with the audience. Currently, it’s a simple essay generator with 2-3 new featured for students.
    Social media engagement isn’t very productive, since mostly, it’s LinkedIn that I’m using. While students are keen on Instagram and Twitter. Twitter deck as I discovered it last month is useful, but it’s effortless in forecasting the reactions and the results of various debates.

  9. Digitalkorabtm :

    I have read your article very carefully and feeling proud. Its really good information to improve our skills and business. Thank you for sharing this great tips.

    digital marketing training in btm

  10. Hi,
    Great article For me! Thanks for sharing content and such nice information. Read More SEO related posts – https://www.techkow.com/blog/sidebar
    Thanks,
    Bhavesh

  11. Wow, It’s worth of reading.
    There are a lot of things that are changing rapidly in digital marketing.
    Basically, learn the new ways and apply in marketing are beneficial.

    Thanks! Please check outPassive Income Ideas

  12. These marketing aspects quite a useful source for encouraging the ROI. But in the implementation process it can have some stop point which is little bit problematic to pass through with. Such as any technical issue which looks easy to solve but take too much time and effort to get it done. For example: Netflix error 30103

  13. Great to see your post again, Neil Patel! Thank for sharing
    Bss commerce

  14. The average order value, or AOV, is one of the first things you need to prioritize as a marketing manager.

    192.168.0.1

  15. Marketing is the key to a successful Business and getting useful Marketing tips is really helpful. These 11 Metrics tips are really great.

  16. Jeniffer Lopage :

    Very informative Post. Thanks for sharing this type of posts.

    If you want any type of Nursing assignment help then visit on- https://www.helpmyassignment.com/nursing-assignment-help/

  17. Xavier Bradley :

    This is definitely a helpful post about the metrics that I need as a marketing manager, thank you for this!

    Regards,
    XB
    BAI Digital

  18. Again a very interesting and important article. Metrics are very important as it help us tom measure a lot amount of stuffs. But often many businesses ignore that thus misses crucial data. You’ve provided all the important aspects that should be measured regularly. Thanks for sharing

    Anurag
    http://www.rayanastores.pw/product/love-knot-bangles-for-women-pure-copper-casting-gold-plated-silver-plated/
    http://www.rayanastores.pw/product/bracelets-for-women-love-bracelet/

  19. I agree with your opinion .Hope you share many things
    wallpaper hd

  20. Contact Dr Gbojie if you want to get your Husband, Wife, Boyfriend and Girlfriend back now and regain your happiness.

    Hi i am from USA I have just experience the wonders of Dr. gbojie love spell, that have been spread on the internet and worldwide, How he marvelously helped people all over the world to restored back their marriage life and get back lost lovers, and also help to win lottery. I contacted him after going through so many testimonies from different people how he help to bring back ex lover back, i told him about my husband that abandoned me about 8 months ago, and left home with all i had.. Dr GBOJIE only told me to smile and have a rest of mind he will handle all in just 24 hours, After the second day my husband called me, i was just so shocked, i pick the call and couldn’t believe my ears, he was really begging me to forgive him and making promises on phone.. He came back home and also got me a new car just for him to proof his love for me. i was so happy and called Dr Gbojie and thanked him, he only told me to share the good news all over the world .. Well if you need an effective and real spell caster contact Dr gbojie Via email: GBOJIESPIRITUALTEMPLE@gmail.com or Call or WhatsApp: +2349066410185.

  21. event planner asheville nc :

    this article is so nice. thanks for sharing this to all///
    visit us at; https://shaybrownevents.com/

  22. BONJOUR RETAIL :

    Thanks for sharing such a wonderful information. So kind of you to provide us a knowledge of these important things for the people .Highly informative article. This site has lots of information and it is useful for us.It is very nice post.

  23. i want to thank Dr Eboh for the herbal HIV medicine he gave to me and my daughter, i was suffering from HIV when i gave birth to my daughter and that was how my daughter got the sickness indirect from me, but to God be the glory that i am heal with the herbal medicine that Dr Eboh gave to me when i contacted him. i want to use this medium to tell everyone that the solution to our sickness has come, so i will like you to contact this great healer on his web site https://holycurecenter.wordpress.com with him all your pains will be gone, i am really happy today that i and my daughter are cured of HIV, we are now negative after the use of his medicine,my doctor confirm it. once more i say a big thank to you Dr Eboh for healing hands upon my life and my daughter, i say may God continue to bless you abundantly and give you more power to keep helping those that want your help in their lives. email him now he is waiting to receive you. holycurecenter@gmail.com or add him on whatsapp +2348053823815.

    Dr Eboh CAN AS WELL CURE THE FOLLOWING DISEASE:-

    1. HIV/AIDS
    2. HERPES
    3. CANCER
    4. ALS
    5. Love spell
    6. Lotto Spell

  24. Great Information for the beginner. This article is very informative and helpful, this helps me a lot. Best Website Design and Development Company in Kolkata – WEBTIKS visit http://www.webtiks.com for more information about digital marketing.

  25. bollywoodblastz :

    I feel that is one of the so much vital information for me.And i’m satisfied reading your article
    http://www.bollywoodblastz.com/

  26. Very nice article it helped me so much thank you
    https://www.rent-a-car-athens.gr

  27. Nice post, I was checking constantly this blog and I am impressed! Very useful information. And I care for such info much about Online shopping.

  28. Behold I was in a very bad shape when I lost my boyfriend. We were supposed to get married and everything got cancelled which was my fault. He broke up with me because he was a good guy who I treated wrong and didn’t appreciate.
    Subsequently I became so depressed and ashamed of myself, I realized he was my life coach and all, I cannot live without him. I searched and found Dr. Wakina just like others did, “Doctor please help me out, bring him back to me since he already got a new girlfriend. Not only do I have a broken heart but I have a broken soul too. I don’t know if he wants to show off or take a revenge from me. Make me everything he desires.” The result was presented to me as asked. The man I carelessly lost was brought back. I’m sharing this post to the public because Dr.Wakina via his email……. dr.wakinalovetemple@gmail.com wiped my secret tears and made us whole again. I’m now filled with tears of joy. All my mistakes have been forgiven and forgotten.

  29. Thanks for sharing the information. It is very useful for my future. keep sharing

    youtube channel art

  30. These tricks are awsome to crack digital marketing.
    Thanks you blogger
    Detective agency in Mumbai

  31. thanks for sharing information regrding Internet Marketing

  32. Thank you for publishing a very informative post. Every post of yours is very awesome, we feel satisfied by reading it. Please keep writing such post further.

    My Blog: http://www.jatram.com/

  33. Tracking metrics is important when you running an online business, especially when you a B2B business such as providing silent conference systems.

    Thanks for sharing this awesome info.

  34. Being a leading logo design agency Delhi we know how important is tracking metrics for us. Social media engagement is what we are tracking now but I guess we need to track others as well.

  35. Metrics are important when you are running a business whether you are running a B2C or a B2B business. How to Hide Apps in Nova Launcher

  36. In the healthcare business, nurses are finding that individuals who have pursued an RN-BSN diploma program tend to be times prepared to proceed from traditional patient care to distinct roles in the health care sector. You can read more at coursework writing

  37. sarah williams :

    Hello everyone i know there is someone somewhere reading this,My name is SARAH WILLIAMS from Leicester city,England,I want to share a great work of a spell caster called Priest UDUEBOR my husband and i had a fight which led to our divorce but when he left me a part of me left with him and i was to sad and cried all day and night i was searching something online when i saw people testifying about his great work and i just decided to give him a try i did everything he told me to do and he assured me that after 24 hours my husband will come back to me,the next morning to my greatest surprised a car stopped outside my house and it was my husband i’m so happy he can also help you. email him at….drudueborsolutions@gmail.com

    ALSO HAS THE CURE TO THE FOLLOWING VIRUS.
    1* CANCER CURE
    2* HEPATITIS B
    3 DIABETES CURE
    4* BEAUTY SPELL
    5* STROKE CURE
    6* DO YOU WANT TO BE RICH
    7* DO YOU NEED PROMOTED IN YOUR OFFICE
    8* DO YOU NEED A CHILD
    9* PENIS ENLARGEMENT
    10*HIV CURE
    11*BUSINESS SPELL
    12*CHARM TO MAKE MEN TO LOVE YOU

  38. Now a Days One of the most important are Metrics when you are running a business whether you are running business to business. really enjoyed reading your blog .Nice article! Great information about.These tips are very helpful to me. All of the posts on your blog are having informative and valuable content. Once again thanks for putting out such content.

  39. Great! Thanks for sharing this information I am so very happy to read this content I am looking for Virtual Reality Company in India

  40. Thanks for sharing this great article. You covered everything what I exactly looking for. I created my own blog Paypticket
    after reading your post post

  41. Digital Marketing Course in Kochi :

    Thanks Fr sharing this article
    Digital Marketing Course in kochi

  42. Rajendra Bhandari :

    This write-up is rich in ideas required for marketing. I’ve read my articles but this helped me alot in planning my marketing statergies to grow my Solid & Sheesham Online Furniture Store /a>. Thanks

  43. Amazing tips. Thankyou for sharing such a great information!
    News Portal

  44. Mtoag Technology :

    Hello sir, This is a nice post which you shared here. <a href="https://www.mtoag.com/medical-healthcare-app-development.htm
    Please keep sharing such types of informative blogs. I am daily reader of your blogs. If you want services like

  45. This is very engaging article this is very informative for me thank you for sharing this article.

  46. This is very engaging article this is very informative for me thank you for sharing this article.I am looking for Mobile App Development Outsourcing Company

  47. Hello
    this is very effective post
    thanks a lot sir

  48. Nice visit https://zagenius.com for music updates.

  49. jeeten khuswaha :

    hello adming.
    gud information you have provided.
    seo-surat

  50. Nurturing Technolab :

    Good Informative Content! keep writing this kind of content! visit site for more information http://nurturingtechnolab.com/

  51. Industrial Furnace Company :

    Amazing post about the metrics every marketing manager needs to track, this is an helpful and valuable information, thanks for sharing…
    Industrial Furnace Company

  52. great work .thanks for sharing .check out https://www.ayevainstitute.com/ for more information .

  53. very nice post Neil ,very useful .yes marketing is very important .thanks for sharing
    web design company in kolkata
    website design company in kolkata

  54. Chucks Daily Deal :

    Great Post! You definitely gave your insights.

    Apple mac ipad

  55. very nice post Neil ,very useful .yes marketing is very important .thanks for sharing
    arac kiralama

  56. Great Post… Thankyou fo sharing!

    Hindi News Portal

  57. I really appreciate your work.
    I’m loving your posts and blogs. Some really helpful tips hints and information. Your posts are fun and informative, keep it up.

    Modern Streaming

  58. Thanks for sharing great thought …
    Nice Article Given By You…
    Its,s Very Helpful For Me…..
    I have My SEO database Blog
    http://www.infyseo.com/
    would you recommend me where should I start for promoting this site? Building links or blogging?

  59. Thanks for the great article, Neil!
    The article is loaded with power packed information.
    Keep up the great work.
    Cheers,
    Vishwa
    http://exuberant88.com/

  60. very helpful as i will try to get more customers on my
    cell phone repair service platform

  61. Thanks for providing this piece of art it is an amazing article
    https://www.rent-a-car-evia.gr/en-us/rent-a-car-evia.htm

Speak Your Mind

*