What’s In Your Metrics Dashboard?

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.

Notes:

  • 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?

Happy marketing,
Heidi Cohen


Note: 5 Key Interactive Metrics table was amended June 29th at 1:30pm

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Photo credit: hoyasmeg via Flickr

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  • http://babacita.com John Kowalski

    Great information and reminder of how important metrics are to a marketing function. In my metric templates I have also been incorporating sales forecasts and calculating the expected cost per $ sold. I think it’s important to keep bridging sales and marketing for an accurate picture for leadership to show overall ROI and value to marketing. Might even be able to secure some additional funding for programs!! :)

  • http://riversidemarketingstrategies.com/ Heidi Cohen

    John–For more finely tuned metrics tracking, it can be useful to track sales and costs in tandem. The challenge is that sales can be over optimistic and costs can be understated. This is the reason that I consider ROI to be a strategic calculation. Happy Marketing, Heidi Cohen

    • http://babacita.com John Kowalski

      Absolutely. And always do an “actual” to see how on target you are with the forecasts. It is absolutely a strategic calculation! Happy Marketing back to you!

      John

  • http://www.sangear.net/ San

    Its tools-n-instruments that gives an edge to an engineer. It is a dashboard that empowers marketing and management.

    You will know what you are doing, and when something goes wrong, you will know what hit you.