"What are the right marketing metrics to track?"
I have clients asking me this.
It is easy to get caught up in vanity metrics like comments, engagement, site
traffic, etc.
You need to measure the right things, so you optimize for the right things. So
what are the right metrics to measure?
Broadly speaking, the right metrics have two traits:
Actionable: Helps you make a product or business decision
Tied closely to Revenue
Here are some examples of actionable metrics you should track:
Conversion Rate, instead of conversions
Average Order Value, instead of total revenue
Clickthrough Rate, instead of clicks
CAC to LTV ratio, instead of just CAC or LTV
Daily/Weekly/Monthly Active Users, instead of sign-ups.
Which metrics you choose depends on the type of business you run.
The metrics for a SaaS product differ from those tracked by an E-commerce brand.
The point is to track metrics directly tied to revenue, not vanity fluff.
Helps?
Posted by Yash Chavan on Facebook
link: facebook.com/groups/803865079768851/user/100002186446221/
I have clients asking me this.
It is easy to get caught up in vanity metrics like comments, engagement, site
traffic, etc.
You need to measure the right things, so you optimize for the right things. So
what are the right metrics to measure?
Broadly speaking, the right metrics have two traits:
Actionable: Helps you make a product or business decision
Tied closely to Revenue
Here are some examples of actionable metrics you should track:
Conversion Rate, instead of conversions
Average Order Value, instead of total revenue
Clickthrough Rate, instead of clicks
CAC to LTV ratio, instead of just CAC or LTV
Daily/Weekly/Monthly Active Users, instead of sign-ups.
Which metrics you choose depends on the type of business you run.
The metrics for a SaaS product differ from those tracked by an E-commerce brand.
The point is to track metrics directly tied to revenue, not vanity fluff.
Helps?
Posted by Yash Chavan on Facebook
link: facebook.com/groups/803865079768851/user/100002186446221/