The importance of metrics in marketing strategy
Posted: Tue Jan 21, 2025 6:48 am
When we talk about metrics in marketing strategy, we must bear in mind that in the world of marketing, one of the main objectives is to improve Key Performance Indicators, since these will help companies grow. Error detection is one of the best advantages that can be obtained when implementing metrics. These components are some of the most important in a campaign, since without them, marketing professionals would not know if the strategy works.
Difference between metrics and KPIs
There is some confusion between metrics and KPIs, these two components may commercial real estate email list seem similar but their functions are totally different.
While KPIs focus on reporting quantitative data that helps us stay up to date on the company's effectiveness, when we talk about metrics, we refer to data derived from the company's strategy.
Therefore, the main objective of marketing metrics is to monitor the effectiveness and performance of the campaign. Thanks to this work, companies can know if their strategies are working, identify errors or successes, and select the recommended metrics to follow.
With programs like Google Analytics we can do a very good job of tracking. By establishing various metrics we will know these data that are so relevant for companies, such as customer acquisition or interaction with them.
Quantifiable measurement helps to translate this data into actions that can impact the company. The selection of metrics is very important as it will determine our knowledge about the actions of the metrics. If we choose appropriate metrics, we will even know the impact of the commercial objectives in the different campaigns. Among the results of the metrics are attracting quality traffic, increasing your visibility in search engines or attracting potential customers.
Benefits
marketing metrics
You're probably tired of hearing that metrics will help you grow and relaunch your business. But what are the main benefits that implementing them can provide you?
Real-time knowledge of the impact of your actions.
Modifying your actions after seeing the results.
Increase in sales.
Situation of potential customers.
Budget optimization.
Knowledge about the company and the most appropriate channel on which to focus efforts.
Discovery of star products and those that don't work.
Creating the ideal potential client.
What types are there?
There are different types of metrics that will focus on achieving different results. Therefore, the selection of these components is essential when implementing your strategy. The objectives to be defined are the factors that determine the metrics necessary for your business.
Below we explain the different metrics that you can find in Google Analytics:
General metrics
Relationship between the company's effort and investment to obtain more potential customers. In this metric you will find some data such as revenue growth, conversions, acquisition cost or return on investment.
Campaign metrics
It compares the behavior of the target audience of one campaign with respect to another. It can focus on customer acquisition or sales of a particular product.
Product Metrics
Comparison with the competition's star products, that is, it creates a kind of ranking that reflects the level of success of a product.
Digital Metrics
This type of metric is one of the most influential on a digital level. Thanks to them, we know the increase in followers, searches about the company or the level of interaction or conversion. Engagement or brand mentions are some of the data you will obtain in this metric.
Difference between metrics and KPIs
There is some confusion between metrics and KPIs, these two components may commercial real estate email list seem similar but their functions are totally different.
While KPIs focus on reporting quantitative data that helps us stay up to date on the company's effectiveness, when we talk about metrics, we refer to data derived from the company's strategy.
Therefore, the main objective of marketing metrics is to monitor the effectiveness and performance of the campaign. Thanks to this work, companies can know if their strategies are working, identify errors or successes, and select the recommended metrics to follow.
With programs like Google Analytics we can do a very good job of tracking. By establishing various metrics we will know these data that are so relevant for companies, such as customer acquisition or interaction with them.
Quantifiable measurement helps to translate this data into actions that can impact the company. The selection of metrics is very important as it will determine our knowledge about the actions of the metrics. If we choose appropriate metrics, we will even know the impact of the commercial objectives in the different campaigns. Among the results of the metrics are attracting quality traffic, increasing your visibility in search engines or attracting potential customers.
Benefits
marketing metrics
You're probably tired of hearing that metrics will help you grow and relaunch your business. But what are the main benefits that implementing them can provide you?
Real-time knowledge of the impact of your actions.
Modifying your actions after seeing the results.
Increase in sales.
Situation of potential customers.
Budget optimization.
Knowledge about the company and the most appropriate channel on which to focus efforts.
Discovery of star products and those that don't work.
Creating the ideal potential client.
What types are there?
There are different types of metrics that will focus on achieving different results. Therefore, the selection of these components is essential when implementing your strategy. The objectives to be defined are the factors that determine the metrics necessary for your business.
Below we explain the different metrics that you can find in Google Analytics:
General metrics
Relationship between the company's effort and investment to obtain more potential customers. In this metric you will find some data such as revenue growth, conversions, acquisition cost or return on investment.
Campaign metrics
It compares the behavior of the target audience of one campaign with respect to another. It can focus on customer acquisition or sales of a particular product.
Product Metrics
Comparison with the competition's star products, that is, it creates a kind of ranking that reflects the level of success of a product.
Digital Metrics
This type of metric is one of the most influential on a digital level. Thanks to them, we know the increase in followers, searches about the company or the level of interaction or conversion. Engagement or brand mentions are some of the data you will obtain in this metric.