It’s 2020 and if you haven’t heard of marketing automation, then you must be living under a rock. For those that don’t know, marketing automation is an extremely effective way to deliver personal, consistent content to your current and potential customers at every stage in the sales funnel. But, if you aren’t tracking your efforts, you might not be utilizing the automation software to its fullest potential. Measuring the success of your marketing automation software can be a bit tricky, but we’ve outlined the types of metrics that can be used to prove the value of your automation efforts.
Activity Metrics
Activity metrics are, to put it quite simply, metrics that speak to your team’s activity. This includes the number of campaigns launched, new leads, blogs published, and emails sent. Additionally, activity metrics also look at the performance of your team, analyzing things like the number of new contacts added to the database or the number of calls made and introductory appointments scheduled.
When looking at your monthly goals and measurement, including these general activity metrics on a month-over-month assessment can show how marketing automation is contributing to your efficiency. If your marketing automation software isn’t being used to do these things, then you’re already putting your business at a disadvantage and not giving marketing automation the chance to be successful. Marketing software is an investment, but if you don’t use it for all it can do, you are throwing money down the drain.
Response & Engagement Metrics
Response and Engagement metrics speak to how leads and prospective customers interact with your content. They include:
- Email Metrics: key metrics to look at when analyzing email performance include open rate and click through rate.
- Site Traffic & Landing Page: traffic source and session duration can help you better determine how your website and landing page are performing.
- Social Media: taking a closer look at shares, likes and comments can help you understand who is engaging with your brand, and how they are doing it.
- Remarketing efforts: taking a closer look at which cold leads were recaptured can help you determine which engagement tactics are successful.
Marketing is like yin and yang. Knowing what’s not working is just as important as knowing what is. Negative response metrics like lost followers, unsubscribes and spam flags can lead to a deeper understanding of how your audience is responding to specific messages, so you can retool the ones that elicit a negative response.
Value Metrics
The metrics that are going to bear the most weight when it comes to measuring the success of marketing automation are the ones that look at ROI. Metrics like conversion rate, amount of marketing qualified leads generated, revenue generated and cost per lead are the metrics that show whether or not you’re getting your money’s worth. When looking at value metrics, it can be beneficial to make it a point to understand what happens to those leads once they migrate from marketing to sales. If there is a disconnect between the sales team and the marketing-generated leads, then a value-driven assessment won’t be as accurate.
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