7 Marketing Metrics Every Manufacturer Should be Tracking
How to Use Data to Run More Effective Campaigns
What gets measured gets not only managed, but improved.
Marketing metrics are no different, and as the world becomes more and more digital in its communication, marketing campaigns utilize a set of metrics that are much more trackable and manageable than they ever were. However, you can find yourself getting overwhelmed and even wasting a lot of time if you are unsure of where to focus your attention.
Of the dozens of marketing metrics that you can track, there are seven that not only matter tremendously but also fall in line with the inbound marketing approach that we follow. The goal of inbound marketing is to generate more leads through your website which can place you in control of the sales cycle, allowing you to pursue stronger partnerships with potential clients.
Once you have a good handle on these seven metrics, your organization will run more effective campaigns. You’ll find that your internet visibility is stronger, and your expertise is in much higher demand, especially in the world of manufacturing where there is a lot of competition.
The best part about these metrics is that they can be easily tracked using Google Analytics or similar tracking tools. Sure, there are more advanced tools available, but you won’t need to spend a lot of money to obtain insight on these basic data points.
Website Visits/Traffic Sources
Site visits are a basic but very important metric. Every campaign should have a “visits” goal because traffic is often the early indicator of how effective your message is. If clicks to a landing page are lower than expected, then the message, graphics and/or the call to action needs tweaked.
A closely related metric is traffic sources. Within Google Analytics, there are several primary “sources” you need to be aware of:
Direct Traffic: Visits that comes from those who directly typed or copied the URL of your website into their browser, clicked on a bookmark or clicked a link in an email/SMS chat.
Search/Organic Traffic: Visits to your website from an unpaid search result on Google, Bing or Yahoo.
Referral Traffic: Traffic that comes from a third-party website rather than a search engine. This could include links from press releases, guest articles, business directories or social media websites.
Paid Website Traffic: These are visits to your website from people who have clicked on a Google paid search ad or display ad. This only applies to businesses running advertising campaigns, and you’ll need to proper tracking set-up within Analytics.
All four of these are equally important in that search engines like to see traffic coming from each source. There aren’t any hard and fast rules about the ideal breakdown in traffic, but direct traffic and organic traffic are still highly coveted. Take steps to improve traffic from all sources and you’ll be moving in the right direction.
Time Spent on Site
Related to time spent on a website is something called Bounce Rate.
A “Bounce” refers to the act of a visitor getting to the website and then leaving said website without any further interaction.
Ideally this rate should never rise above 60%. You need to make some serious adjustments to your message, homepage design, and some of your CTAs if your bounce rate is this high.
If your campaign message aligns with your landing page and you give visitors the information they want, you’ll begin to see your bounce rate fall. This is an iterative process that takes time. Systematic tweaks over time can yield results; but start tracking this now in order to get a baseline measurement.
Return on Investment (ROI)
Next Steps for Your Marketing Team
Digital marketing strategies are a marathon, not a sprint.
This is why you should keep a close eye on these metrics and make adjustments as you go along. The same principles of traditional marketing apply to web-based marketing campaigns. You need to build trust and authority with your digital audience, using these metrics as indicators of your progress.
Hopefully the tips above will help improve website conversions. Have more questions about running successful marketing campaigns? Reach out to us directly.
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