You're new to marketing analytics. What are the most important metrics to learn?

No problem! Here's a concise version: For marketing analytics newbies, focus on: Website traffic: Understand your audience reach (overall traffic) and engagement (sessions, bounce rate). Engagement: Track clicks on your calls to action (CTR) and social media interactions. Conversions: Measure how many visitors take desired actions (conversion rate). ROI: Learn the cost of acquiring a customer (CPA) and their lifetime value (CLV). Remember, the most important metrics depend on your goals and industry, but these basics provide a solid foundation.

Traffic sources are important to know so that you can double down in a channel that is really working well. However, the mistake most businesses make is that once one channel is working, they drop the rest. That's not the idea. You want to have several channels working. You can focus on one at a time to get it dialed in and optimized but using just one channel is not great for the long term.

Website Traffic: Sessions: Total number of website visits within a specific timeframe. Users: Unique visitors to your website. Page views: Total number of individual pages viewed. Engagement: Bounce rate: Percentage of visitors leaving after viewing one page. (Lower is better) Average session duration: Time users spend on your website per visit. Click-through rate (CTR): Percentage of visitors who click on a specific link or call to action. (Higher is better) Conversions: Conversion rate: Percentage of visitors who complete a desired action, like making a purchase or signing up for a newsletter. (Higher is better) Cost per acquisition (CPA): Average cost of acquiring a new customer.

Un caso bien frecuente, sobretodo en el uso de redes sociales como fuente, es poder aprender sobre las capacidades de rastreo que se nos puede ofrecer con los dashboards de las mismas. También considerar en nuestros portales rastreadores lo suficientemente buenos para poder saber la fuente de nuestros prospectos y como podemos fortalecer nuestro impacto en la audiencia clave. Indicadores como numero de clicks, click trough, impresiones, duración en la página, etc. Proveen datos clave para poder tomar decisiones. Dicho esto, las fuentes digitales como el buscador nos pueden ayudar a concentrar trafico pero puede ser la más debil en terminos de analisis para repetir el ciclo, pagina o redes sociales pueden proveer un poco mas de insisghts

When delving into marketing analytics, it's essential to grasp key metrics that gauge the effectiveness of your strategies. These include conversion rate, showcasing the percentage of users taking desired actions, and return on investment (ROI), indicating profitability. Additionally, understanding customer acquisition cost (CAC) and customer lifetime value (CLV) illuminates expenditure on acquiring customers and their long-term worth. Metrics like click-through rate (CTR) and cost per click (CPC) gauge the efficacy of online ads, while engagement metrics on social media signify audience interaction. Incorporating data extraction tools like SQL and visualization platforms such as Tableau aids in analyzing and presenting insights.

In my marketing journey, the conversion rate has been my north star. It's not just a metric; it's a reflection of resonance with my audience. Each percentage point gained signifies a better alignment with their needs. However , conversion rate on its own doesn’t determine marketing success.. Marketers must look to get to the incremental impact of marketing over and above baselines #DCTalks

Simply put, CAC (or customer acquisition cost) is the amount it costs you to acquire a new customer. This is often one of the most important metrics to understand because combining your CAC with your CLV (customer lifetime value) provides the data you need to understand at what point your marketing efforts become profitable. When analyzing CAC and CLV, you're going to want to keep in mind the cost of goods sold (COGS) which will help you learn how much profit you are making on each sale. It's important to also remember that ROI is not the same as ROAS. Your CAC should be inclusive of the cost of ads, marketing materials, the salary / time of consultants and members of the marketing team, and anything else that goes into the campaign.

In my experience, marketing attribution serves as the compass guiding me through the intricate paths of consumer decision-making. It's not just about numbers; it's a revelation of the customer journey. — Understanding how different channels contribute to conversions empowers me to fine-tune strategies across devices and platforms. It's more than optimization; it's a justification, ensuring every marketing dollar finds its meaningful impact.

You can only grow a business in 2 ways. - Get more customers - Get more $$ (value) out of those customers Learn to break down these numbers into smaller metrics (drivers). To get more customers you need to understand: - CAC (customer acquisition cost) CAC = Ad Spend (Cost) / New Customers To get more out of them you need to understand: - LTV (Customer Lifetime Value) LTV = Profit / Customer Profit = Orders * AOV AOV = Units * AUP (average unit price) Understand which metrics increase and decrease your north star metric.