Marketing Performance: How to Track it Properly
The thing is every company or commercial organization is aimed at increasing revenue, improving brand awareness, and maintaining the engagement of the audience. Therefore, marketing performance objectives are lead generation, website performance, email marketing, and maybe some more. But it’s not enough just to define what to track, you also have to find an effective way to track it properly. You need to have a marketing system to track marketing performance and ensure the best results. Keep reading and you will find some useful insight on this matter.
Key Performances Metrics to Track
Just like there are many key strategies for improving business performance, there are many metrics for measuring marketing performance. It depends on the model, tasks, and goals of the business. So the first step is to make sure you know where you and your team are going. However, there are some common aspects you need to track.
Lead Generation Management
Your business, just like any other, relies on leads. The sources of those leads may be different and they can be more than one. So, you need to be sure you track them right. This is what Lead generation management is all about.
First of all, you need to define the channel that brings the most leads, the quality ones, and then count how many of them become sales. This means the volume. The next step is to nurture the leads you received. Managing those leads means defining what stage the potential client is on and how to drive them to the next step in the sales funnel.
Depending on the purpose of your website, there are numerous metrics you should track to ensure your website is noticed and delivering the best website performance.
- The number of visitors can show how useful, engaging and attractive your website is, and what you might need to fix.
- Bounce rate (when the person decides to leave in a few seconds) can be a sign that your pages do not contain the information or product description the visitor might look for.
- The top source of traffic and devices info can help you to focus on the right channels and adjust your site to the needs of your audience.
You might also keep track of session duration, average page views, time on page, exit pages, and other metrics to detect the effectiveness of your website.
User engagement metrics are wider than the previous one as it covers all your marketing channels like social media, email marketing, web, and so on. Here we learn how your prospects are engaged with your marketing content. On social media pages, you can see it via the number of likes, comments, etc., while website engagement is measured via session durations, page views, etc.
Email Campaign Performance
Suitable email software will help you to track metrics like list size, open rate, conversions. You need to make sure the list of emails you use in the campaign is growing and updating. Open rate detects how many messages were delivered to the prospects and how they are engaged in your offers. Conversion rates show how effective your marketing strategies are.
Marketing Platform Tracking Features
There are modern automated ways to track your marketing performance. There is no need to collect the info by hand and store it on some spreadsheets. Just find a suitable all-in-one marketing platform to keep track of everything you need. For example, for lead management, it would be useful to have features like lead analytics, lead tracking, lead distribution, predictive modeling, and real-time reporting.
Website performance can be improved with click tracking, dashboard overview, targeting, and journey control. For email marketing, choose platforms that support campaign analytics, deliverability reporting, A/B testing, multi-channel distribution, automation, behavioral segmentation, also, provide email templates and other useful features. Also, you can save time including in your list accounting features like cashflow tracking, payment automation and invoices, history and reporting, payout preferences, and customizable features.
Track Marketing Performance
No matter what digital marketing system you select, or what platform choose, the goal is to reach the purpose of marketing performance — revenue growth. So do your best to define the right objectives to track and focus your resources on. While the marketing tracking platform will assist you in your tasks allowing you to focus on more important matters while automating as many processes as possible.