5 marketing success metrics you should measure

Are you looking for a way to formally measure the success of your marketing efforts? In today's world, relying on gut feelings or intuition to determine the success of your marketing strategy is simply not enough. You need real, measurable data to determine what you're doing well and what areas you need to improve. Here are the marketing success metrics you should track and be measured against.

1. Lead Generation Rate

Lead generation is defined by HubSpot as "the process of attracting potential customers to your business and increasing their interest through nurturing, with the goal of converting them into customers."

Generating leads is the ultimate goal for any marketing team, so it's important to have measurable marketing metrics to gauge the success of your efforts in this area.

The lead generation rate is the total number of leads acquired divided by the total number of visitors via a specific channel. Using this metric, you can see in which areas you are particularly good and where you could still improve.

2. cost per lead

The cost per lead is a metric that can be used to measure the cost effectiveness of your marketing campaigns. It can be calculated by dividing the total cost of a particular campaign by the number of leads that campaign generated.

The cost per lead is a great way to measure the effectiveness of your spending. This allows you to determine in which areas you should continue to spend money and in which areas it would be wiser to invest differently in the future.

Show exactly where your budget is going and how much revenue you're getting from each marketing spend with our marketing spend report template and metrics calculator.

3. Return on marketing investment

While measuring the effectiveness of leads is important, leads don't always lead to customers. You should also use metrics to get an overall sense of how your marketing efforts are impacting the growth of your business (i.e., revenue)

Return on marketing investment is measured by dividing the total amount of revenue generated by the total amount of marketing investment over a given period. Marketing teams can use this metric to measure their success over a period of time compared to previous periods.

4. customer acquisition costs

In addition to a general overview of how your marketing efforts are paying off, it's important to analyze how much you're technically spending per customer

This will tell you where your money is best spent and give you an idea of how many resources are needed to make a profit on future campaigns.

Customer acquisition costs can be measured by taking all of the sales or marketing costs within a given campaign and dividing that number by the number of new customers acquired through that campaign.

5. dwell time on their website

Page dwell time is a great metric to help you determine the success of your web design and content. If users land on your page but spend little time on it, your website is not doing your business any favors.

It's time to rethink the layout, design and overall quality of the content.

The longer your users stay on your page, the better. A high average time spent on the page indicates that the content produced by your marketing team is relevant, engaging, and of value to your audience.

Marketing Success Metrics: The Key to Improvement

Using metrics to determine marketing success is not only necessary to prove your ROI, but also a valuable way to evaluate your performance and set achievable goals for the future.

There are several other marketing metrics you should keep an eye on and track, but the five above are a good place to start.