You’re tracking marketing metrics. How do you know which ones are the most important?

2 Choose metrics that matter to your audience

The second step is to choose metrics that matter to your audience. Who are you reporting to and what do they care about? Are you communicating with your boss, your team, your clients, or your stakeholders? Different audiences have different expectations and preferences when it comes to marketing metrics. You need to tailor your reports to suit their needs and interests. For example, if you’re reporting to your boss, you might focus on metrics that show the return on investment (ROI) of your marketing campaigns. If you’re reporting to your clients, you might focus on metrics that show how you’re helping them achieve their goals.

3 Balance quantity and quality metrics

The third step is to balance quantity and quality metrics. Quantity metrics are the ones that measure the volume or scale of your marketing activities. They include metrics like traffic, followers, subscribers, and leads. Quality metrics are the ones that measure the effectiveness or value of your marketing activities. They include metrics like engagement, conversion rate, customer satisfaction, and lifetime value. Both types of metrics are important, but you need to find the right balance between them. Don’t get obsessed with quantity metrics at the expense of quality metrics, or vice versa. Instead, use both types of metrics to get a holistic view of your marketing performance.

4 Track metrics over time

The fourth step is to track metrics over time. Marketing metrics are not static. They change and fluctuate depending on various factors, such as seasonality, competition, trends, and customer behavior. To get a meaningful and accurate picture of your marketing performance, you need to track metrics over time and compare them with your baselines and benchmarks. This way, you can see how your marketing efforts are improving or declining, and identify patterns and opportunities for optimization. For example, you can track how your metrics change month over month, quarter over quarter, or year over year.

5 Experiment and optimize

The fifth step is to experiment and optimize. Marketing metrics are not only for measuring and reporting. They are also for learning and improving. You can use metrics to test and validate your hypotheses, and to experiment with different strategies and tactics. By analyzing the results of your experiments, you can learn what works and what doesn’t, and optimize your marketing campaigns accordingly. For example, you can use metrics to run A/B tests, split tests, or multivariate tests on your landing pages, emails, ads, or content.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?