Top Marketing Metrics
Adjusting marketing strategies and adapting them to the evolving habits of consumers is part and parcel of operating a business. If you’re running an ecommerce business, digital performance indicators like cart abandonment rates and add-to-cart rates help to understand your buyers’ online shopping behaviors.
But what about metrics that apply to all businesses—regardless of type, size, or industry? Here’s a look at the top marketing metrics companies track.
Top marketing metrics businesses track
According to a report, revenue is the top marketing metric tracked by businesses. 88% of marketers list it as an indicator of success—a 10 percentage point increase from a year ago. The high ranking of revenue on the list of top marketing metrics should come as no surprise, as it directly affects a business’s bottom line and viability to continue operating.
Indicators of customer satisfaction and web and mobile analytics are the second and third-most tracked marketing metrics, respectively. 87% of companies say they have an eye on these data points. Customer satisfaction metrics are important, especially considering 81% of consumers say that positive customer experiences influence their chances of a repeat purchase. Web and mobile analytics measure how online visitors behave, what they click on, how long they stay, and where they come from—vital information for ecommerce businesses.
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This is followed by metrics pertaining to customer acquisition costs and the marketing and sales funnel. 85% of brands say they track these indexes. These two metrics are closely related. Customer acquisition cost (CAC) is the amount of money businesses spend on acquiring a new customer, while the marketing and sales funnel refers to the process of turning a prospect into a customer.
Content engagement rates also rank among the top marketing metrics, tracked by 83% of businesses. Tracking them helps marketers understand how well a piece of content resonates with buyers. It’s also key to attracting buyers, as recent content marketing statistics show that nine out of 10 consumers expect brands to provide content.
Customer retention rates and referral rates are next on this list of the top marketing metrics. Just under three in four (74%) brands say they measure these indicators.
Customer lifetime value, or CLV, is also among the top marketing metrics, tracked by two-thirds (67%) of businesses. CLV is one of the most crucial success measures to understand, as it allows you to better gauge your strategies’ success.