With the digital shift that marketing has experienced, it’s not surprising that there is an increasing focus on ‘quantitative’ data. Having access to droves of marketing data in the digital age has become both a help and hindrance to modern marketers, with the data allowing us to pin down and continuously improve strategies while at the same time causing confusion as to which of the thousands of metrics are actually worth measuring.

We’re running short courses on how to make sense of the marketing data available to you, and what marketing metrics you should be focusing on, which you can find more information on here. But for now, here are 5 of the marketing metrics we think every business should be focusing on in 2015:

  1. Cost Per Lead

This cost can be determined by adding together your entire spend on marketing for any given period. You then divide this total cost by the number of new leads acquired through any marketing efforts and you have your average cost per lead.

  1. Total Website Visits/Referrals

Your main website/landing pages should be at the forefront of your online marketing efforts and may even be the focus of some/all offline campaigns. Therefore measuring the total visits and focusing on where exactly those visits are being referred from is a clear indicator of what’s working and where you need to improve.

  1. Total Conversions

Getting visitors to your site is one thing, but how many are actually converting into leads/customers whilst there? Conversions can be anything from completing a checkout transaction on an e-commerce site to heading for the ‘Contact Us’ tab; it’s all dependant on your marketing goals. Measuring conversion rates is a great way to monitor the profitability of your marketing efforts and highlight any areas where improvements could be made to turn visitors into leads/sales.

  1. Bounce Rate

How many people are heading to your website and leaving straight away/not delving deeper? It’s natural to have a bounce rate, but if the number is increasingly high then it could be an indicator that your website/landing page is not working for you. If it’s not simple for the visitor to find what they are looking for, they are likely to leave the page and you lose a lead/sale due to the lack of clarity or appeal. Keep an eye on this number and always be on the lookout for ways to improve the appearance and usability of your site.

  1. Estimated Return On Investment

While quantifying the exact ROI of marketing efforts isn’t always possible, there are plenty of ways to interpret the data available to give some indication of how profitably your individual marketing campaigns are. The cost of lead acquisition plays a large role in this, along with the lead conversion rate. By identifying the cost of getting the leads from zero to customer you can then work out the average profit of each customer and in that you have your estimated ROI.

And that isn’t even the tip of the iceberg! There are so many different metrics and ways of analysing the data, and each company’s individual aims and goals will differ and impact the data and metrics they need. If you would like to learn more about marketing metrics and how to use them in your own marketing efforts, take a look at our upcoming short courses running from January 2015.