A business metric is a demonstratable estimate used by managers to assess the progress and situation of a given business process. Examples of business operations metrics include cost per acquisition in marketing, sales by region, and delivery time, among others (Aggarwal, 2019). Metrics are important as they support the exact strategy in place for a given firm. This paper discusses the appropriate metrics for a forthcoming digital marketing campaign for the forthcoming holiday season.
Email marketing can be mastered gradually by any business managerial element. It has more to do with keeping the best skills in carrying the best practice in a given campaign (Uzma, 2018). The first metric to use is the open rate which allows the team to understand how the subscribers are getting messages by tracking the number of recipients who opened the company’s mail. Studies show that companies that employ this metric by using the subscriber’s first names are 25% more likely to open the message (Misirlis & Vlachopoulou, 2018). The second metric under a marketing campaign is the conversion rate that allows the management to know the number of people who click a given link, hence completing a specific task under the link.
Additionally, a list growth rate can be applied to check how the users in a list are growing. It can be executed by deducting the number of unsubscribes from the total number of email addresses sent and adding the new subscribers (Chen, 2020). Another important email metric in marketing is spam complaints, where a manager can monitor the number of emails marked spam by users. The firm should measure engagement on the social media campaign metrics such as likes, comments, shares, retweets, and clicks. By measuring engagement, a company will track how active the audience is on the effectiveness of brand campaigns (Moya & Rajagopal, 2020). The second factor in the social media metric is awareness, such as impressions and reach. The two factors help track if the goals for social media revolve around brand awareness and perception.
The source of the above data, such as the number of clicks in an email, engagement level, the rate of growth in the number of subscribers, and impressions will be from the accounts created such as Gmail, Outlook, Facebook, Twitter, and other profiles that a marketer can create (Nyagadza, 2020). For example, under Outlook, the marketing team can apply several commands such as selection, import, and export while performing a task for a given database (Silvia, 2019). On Facebook, the company should monitor how pop-up notifications are being opened and watched by Facebook users.
The resulting data and metrics can be used to improve the campaign’s marketing performance by getting a strategy to develop and build more knowledge in the tools. For example, suppose the company notices that the brand awareness is high from social media engagement (Carlos, 2020).
In that case, they should take advantage to influence more people by adding several processes that can better the marketing paraphernalia. Additionally, tracking the metrics aids in improving overall results by aligning the workforce and processes that are in the line with business mission and vision (Saber & Foster, 2016). The data and metrics are important in measuring financial costs and position, revealing the truth about performance through teams, departments, and overall organization. Lastly, the metrics and resulting data highlight issues that the management and the other key players may have less seen in a given operation of a company.
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