5 Key Interactive Marketing Metrics
As budget season approaches for many companies, it’s a good time to review your interactive marketing metrics and assess their effectiveness at monitoring your business. While measuring something is better than not tracking anything, as your marketing gets more sophisticated so should your related analytics. This tracking is critical in determining marketing effectiveness. Chief Marketer March 2011 research revealed two metrics used by over 50% of respondents; they were click-throughs (CTRs) and website traffic. While both measures are easy to assess, they don’t yield significant information on their own.
Marketing metrics must track back to your marketing goals and should be determined during your planning process to ensure you’re able to monitor them going forward. To help you develop your interactive marketing dashboard, here’s a chart of the five major marketing metrics categories broken out by marketing goals, namely branding, e-commerce and loyalty. Social media supports all three marketing objectives. Assumptions:
- Branding marketing may not yield short-term actions.
- Loyalty marketing uses internal media such as website and social media.
- Earned media = shared content
The goal is to provide you with a framework for assessing interactive marketing metrics that can be adapted to meet your firm’s specific needs. Remember, to ensure that your results maximize their effectiveness, use a call-to-action, a tailored promotional code and a tailored landing page. Since profits are a strategic metric that depend on your company’s margins and other internal factors, they weren’t included.
Are there any other interactive marketing metrics you’d add to this chart? If so, what are they and why would you add them?
Note: 5 Key Interactive Metrics table was amended June 29th at 1:30pm
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