Which marketing metrics should you be tracking?

Written by Nhu Te | Jun 12, 2024 8:12:50 PM

085: Which marketing metrics should you be tracking?

These days, you’re hearing a lot about how we need to track our data. As we continue operating in a digital-first environment, knowing what metrics to monitor will be vital to our success.

However, in your day-to-day tracking and reporting, have you taken a moment to evaluate if you're tracking the right metrics? With so many types out there — traffic, engagement, conversion, lead generation, and more — it can be challenging to discern which ones matter most.

In this week’s brief, we're breaking down industry-leading KPIs for you to compare against your own. Remember, every organization has unique goals, so it's vital to tailor these benchmarks to align with your specific objectives and strategies. As a primer, check out last week’s webinar on the fundamentals of measuring campaign success.

Snackable snippets

Marketers more focused on delivery metrics 📖
According to a new report from the Direct Marketing Association, marketers have been measuring “the least helpful effectiveness metrics.”

Short story: More marketers are more focused on campaign delivery over business, brand, and response metrics. Per the DMA, marketers who focus on effectiveness over delivery tend to achieve stronger overall business performance.

15 ways to improve conversion rates in Google Ads 📖

Google Ads are a great additional touchpoint for driving actions such as event sign-ups, content downloads, or donations. But what should you do if your ads aren't converting as expected?

This article explores practical, actionable tips for improving Google Ads conversion rates, from selecting the right keywords and creating compelling ad copy to optimizing your landing pages.

The human side of digital transformation 🎧
Data can help fuel your nonprofit’s growth. But there’s a distinct difference between collecting data and using it to make decisions.

Tim Lockie, Founder of The Human Stack, has spent 20 years working across a variety of organizations. He joins us in this episode of Good Marketing Unplugged to provide practical tips for leaders looking to improve data use and digital transformation with a human-centered approach.

Two nonprofit marketers share their social tips 📖
Social media often gets relegated to the bottom of the priority list when it comes to marketing. The reasons are far and plenty: low engagement, not enough resources, hard-to-measure ROI, and the list goes on.

But for organizations like The Innocence Project, social media offers an effective way to get directly in front of their target audience, activating more than 4 million people. The Innocence Project and Everytown for Gun Safety share their tips for building and measuring social campaigns in this article.

Why retention holds the key to profitability 📖
As acquisition costs rise and audiences become harder to reach, many brands are turning to engagement and retention as key drivers of growth. A study by Bain & Company and Harvard Business School found that increasing retention rates by just 5% can boost profits by up to 95%.

It’s more than just getting people in the door — you have to keep them engaged over time. Read this article to find out how brands like Netflix are planning to earn customer loyalty.

In the news

Leveraging data from 74.5 million customers, Costco is developing an ad network to deliver targeted advertising both on its website and across other platforms.

“Not only will we help you reach a Costco member, we will help you reach the right members in the right context based on past behavior,” Mark Williamson, AVP of Retail Media at Costco, said in an interview with Marketing Brew.

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United Airlines announced last week that the company is adding personalized advertising to the seatback entertainment on its flights.

With a potential for 3.5 hours of attention per traveler, United Airlines is hoping this will appeal to brands looking to engage their customers.

For your inspiration folder

Crayola has made a household name itself for sparking childhood imagination and creativity through art and self-expression.

Crayola’s latest ad campaign, Campaign for Creativity, targets parents and reminds them of the role creativity has played in their lives and how it has helped them connect with others.

A real tear-jerker, Crayola does an exceptional job of telling emotionally resonant stories from the parents’ perspective and how their creativity — which goes beyond crayon and paper — can trickle down to their children.

Source: Crayola

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