Tag

Performance Metrics

Browsing

How do you know if your marketing strategy is working? By measuring the success of your marketing tactics against the goals you’ve set. Measurement uses metrics and key performance indicators (KPIs) to figure out how your efforts are impacting your business. Measuring your marketing efforts is more than just figuring out how you’ll define success for your marketing campaigns. It involves using powerful analytics tools that can help analyze your campaign data, figuring out what…

Cost per mille (CPM) refers to the average cost of one thousand ad impressions or the average amount you pay every thousand times internet browsers load your ad. The “mille” in cost per mille is the Latin word for “thousand,” so to find CPM, you divide cost by impressions and multiply by one “mille” or thousand. The equation looks like this: CPM = cost/impressions x 1000. Some display networks offer CPM as a pricing structure…

This probably doesn’t come as a surprise, but it’s much cheaper to retain customers than it is to acquire new ones. Because clicks and conversions are continually increasing in cost, customer retention is especially important for e-commerce brands that are looking to succeed in a saturated market. This is why it’s essential to track how receptive your existing customers are by measuring purchase frequency.  Let’s take a look at what purchase frequency is, how to…

Once upon a time, customer loyalty depended on the product or service you’d provide. If they were high quality and unique, bibbidi-bobbidi-boo, you’ve most likely gained yourself a new fan. Nowadays, it’s different — the market is saturated with various brands offering similar services, and an essential distinguishing factor is customer experience. A positive experience doesn’t just result in customer happiness but also leads to increased revenue. Let’s explore what customer experience means, and how…

Let’s shine a spotlight on the show Shark Tank. It features a group of investors who decide whether various products are worth investing in. To secure capital, entrepreneurs present their products in front of the “sharks,” and face questions spanning all aspects of their business, including distribution, marketing, and plans for the future. If you’re unable to answer these questions and provide clear goals, the sharks will turn you down. This show serves as a…

Setting up an e-commerce store? Simple. Running a thriving business through said e-commerce store? That’s where it gets trickier. As any good business owner will tell you, the key to making informed decisions is through data. Cue the e-commerce metrics dashboard, a valuable tool for visualizing and interpreting data in real-time. There’s no one-stop formula for what works. One company’s dashboard will look very different than that of another’s, depending on a variety of factors,…