Any company looking to expand in the digital market needs to set its objectives, metrics, and how it will achieve them. After all, only with good planning will the strategies be well-directed and yield good results.
Especially in e-commerce where the internet has such a volatile and dynamic audience, it is necessary that companies are always aware of any changes that may happen to both their audience and the market itself.
But before that, it is necessary to understand very well the concept of metrics and why they are so necessary in your business, being so efficient in digital marketing, regardless of whether the company's focus is on hydraulic terminals or service sales.
Therefore, today's text will address the whole concept of metrics, how they work, what are their features, the difference between them and KPIs (Key Performance Indicator), as well as benefits and advantages that can be enjoyed in the investment.
Attracting leads, showing the value of your work and being able to convert them into loyal customers to the business is the goal of every company, after all, it is through purchases and engagement that it expands more and more and shows its value to the internet. .
Not only that, but even in the sale of a pallet rack, there are strategies behind it, aiming for a certain number of sales, engagement, shares, and reach, all these metrics that drive the company forward and help to measure the various values involved in the business.
In a simple and very direct way, we can understand as metrics the quantitative measures that are used to analyze the performance of a process. And, as a company has several of them, it is necessary that such measures are well applied.
Therefore, calculating the number of sales throughout the month of a commercial system X, or the number of people who continue to invest in the company's flagship product, such as customized t-shirts, are just a few of the metrics used by various types of businesses and by the market itself.
In other words, metrics are excellent ways to make decisions in your business, influencing whether a campaign or strategy is viable or not, serving as a kind of compass, always showing you which way to go at the moment.
Therefore, the following topics will address a series of metrics and better explanations of how to use them efficiently in your business, whether it's logistics or even an IT consultancy. Without further ado, check it out.
Exploring the concept of metrics
The first step is to understand how these metrics are important in your business, something that was already given a little introduction at the beginning of this article. They are the basis of any decision of your company and this affects all your planning.
This means that, if a metric is measured and calculated wrongly, all other processes of your company, even a promotional campaign, will be biased, making the brand understand that it is profitable or not very viable, taking an attitude wrong.
This can affect anything from an environmental consulting firm to large software developers. However, just as important as this is knowing how to differentiate the metrics from the well-known KPIs, which are the Key Performance Indicators.
Metrics are nothing more than relevant information about a certain action that the company has taken, while KPIs are the results of a certain action. That is, one is continuity, a sequence of the previous one.
But to calculate such metrics, it is necessary to have data measurement tools that help work with so much information about your software development company, after all, technology has evolved and should be used in favor of your organization.
Therefore, some of the most used measurement tools on the market today are:
- Google Analytics;
- SEMrush;
- Google Search Console;
- Sharpspring.
Each of them has its own particularities and it is up to each company to decide which one best meets their needs. Of course, it is possible to use more than one tool, it all depends on what the company is looking for and needs.
With this in mind, there are just a few questions about which metrics are most commonly used in the market and how this benefits all types of businesses, including a fiberglass distributor. Check it out in the topics below.
Most used metrics and KPIs
Now that the importance of metrics and KPIs for your digital marketing strategy is a little clearer, it's time to get to know some of the most used and that can make a big difference in your business.
Therefore, check below some that the market uses more assertively and that can make the difference between making good or poor decisions in your waste management company.
01 - Average ticket
Quite directly, the average ticket shows the value of your sales over a period pre-stipulated by the company. This means that it can show the average profit per campaign, product or promotion that the company carries out.
In other words, it exposes quite crudely how much the sales department managed to make a profit on a particular product. However, it is necessary to pay attention because sales are not always related to just one process, therefore, a certain sensitivity to this metric is necessary.
02 - ROI
This acronym stands for the term Return on Investment, or in English, Return on Investment. It can be understood and stated that it is a metric that indicates how profitable an investment was, that is, how much was raised from some specific investments.
It is very useful mainly for the marketing department of companies, mainly to calculate special campaigns, such as Mother's Day, Christmas, among others. It is one of the most used in the market and it is difficult to manage your business without this metric.
03 - CPL
This indicator is the acronym for Cost per Lead and, in a very direct way, it is the price your company pays, the costs and expenses to generate leads for your business through content marketing, also known as inbound marketing.
Remembering that content marketing is nothing more than the constant creation of content for the internet that aims to add value and retain you, and doing this doesn't come cheap.
There are the professionals needed to create content, constant maintenance of the page or site, as well as constant filtering of what is interesting to the public, video editing, content and image design, among many other investments.
04 - CAC
This KPI is very similar to the previous one, but in this case, instead of just involving the lead, it involves the entire Customer Acquisition Cost. It is as comprehensive as the previous topic, with the difference that it may involve interviews, maintenance of the sales funnel and company strategies, among many other practices.
05 - Organic traffic
As the name implies, organic traffic measures the amount of people who are interested in the page's content and continue to consume what it offers. They get there by recommendation from Google or by indication of the page's social networks.
This metric aims to understand who are the leads that appear on the site organically, all as a result of the company's intense inbound marketing work and can be essential to decide whether or not it is necessary to change the form of marketing or hire paid traffic. to increase range.
Monitoring the metric is very important for the simple fact of knowing if your company is being strong in the actions it is trying to promote, attracting customers and leads, or if it is necessary to adapt to other practices or change the strategy.
Final considerations
Today's text addressed what metrics are and how to measure your company's data to use in digital marketing, exploring the impacts this can have on your business, as well as the most used and efficient KPIs and metrics today.
As advantages and benefits, we can mention that metrics always leave the company one step ahead and, as mentioned a few times throughout the text, allow greater power and decision-making that would normally only be understood after a complete failure.
It also helps to engage more customers, know what the strengths and weaknesses of the business are, as well as enable several possibilities when, together with the KPIs, the company understands what the focus should be, getting even more leads and customers.
Use the information provided throughout the text as a form of guidance and research as much as possible about which metrics your company can use, using your segment, reality and essence to extract the best from it.
This text was originally developed by the blog team Investment Guide, where you can find hundreds of informative content on different segments.