There are so many metrics to look at when creating a campaign and analyzing your market data. Thanks to Ai and data science, we have more metrics than ever and can obtain those metrics faster and easier than even five years ago.
With so many metrics at our fingertips, and can be difficult to parse out which ones we should look at and which ones we should ignore. Chris de Diego says that people and businesses should look at every marketing metric, but they should also lend more attention to the most important ones.
But which metrics are the most important, and how can you know? Well, I asked Chris de Diego this, and he was kind of enough to give me a fantastic answer!
MQL (Marketing Qualified Leads)
Pretty much, an MQL is a lead that has shown more interest in your business or product, thanks to your marketing. This is one of the most important metrics to pay attention to because these leads are much more likely to become a customer than other leads.
Chris de Diego says that MQL is the metric that bridges your marketing to your sales since these leads start their journey at your marketing and end (hopefully) with a purchase. You can use this metric to see where you’re losing your customers and if you need to modify anything between the initial contact and the sale.
Brand awareness
Brand awareness refers to how well known your brand is across the world, social media, and, most importantly, your market. Chris de Diego points out that there are a few ways to track this metric.
You can check Google statistics, research social media to check mentions, and how well your backlinks are doing. There are a few software services that track things like social media mentions for you, Hootsuite being one of the largest.
Content Subscribers
When Chris de Diego talks about content subscribers, he’s talking about the people that subscribe to your newsletters and similar content. You want to look at this because it shows you a lot of information.
The reason Chris de Diego watches this metric so much is that it lets you know if your content is reaching a lot of people, if those people are interested in your content for the long term, and how they’re responding to different newsletters (do you make more sales when you promote an item in your newsletter?).
Customer Behavior
Chris de Diego puts a significant focus on customer behavior when visiting your website. This means looking at which pages they spend their time on, where they go to after those pages, etc.
This will let you know whether your call to action and copyrights are working. If you want to measure this metric thoroughly, Chris recommends AB testing.
CAC (Customer Acquisition Cost)
Finally, one of the most important and looked at metrics, CAC, refers to how much money you spend per customer. The formula for this can be as simple or complex as you’d like, but if you want to keep it simple, then take the dollar amount you spent on marketing and divide it by the number of customers your marketing brought in.
Of course, this metric requires that you know how many customers were brought in by your marketing spending. Chris says you can even break this down further and figure out which marketing techniques brought in the most and whether investing more in those techniques would lead to more customers.
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