Analytics provides many different metrics, but not all of them are equally important for decision-making. Let’s take a look at the most important metrics that help make your business more efficient and result-oriented.
Key performance indicators (KPIs)
KPIs are metrics that show how successful your marketing campaigns are. They can vary depending on the goal, but the most common ones include:
- Website traffic – the number of visitors.
- Engagement – likes, comments, reposts, and other user actions.
- Conversions – how many people performed a targeted action (e.g., subscription or purchase).
These metrics allow you to evaluate the overall effectiveness of your marketing strategies and identify bottlenecks that need improvement.
Conversion rates and ROI
Conversion rates show how successfully users complete targeted actions, such as purchases or requests. Main types of conversions:
- Macro conversions are the main goals, such as a purchase or registration.
- Micro conversions – small, intermediate actions, such as viewing product pages or adding to cart.
ROI (return on investment) is one of the most important metrics for evaluating the effectiveness of a campaign. It is calculated as the ratio of profit to marketing costs. For example, if 10,000 hryvnias were spent on a campaign and it brought in 50,000 hryvnias in profit, the ROI would be 500%. A high ROI indicates that resources were invested very effectively.
User experience (UX) metrics
UX metrics help you understand how comfortable users are interacting with your website or app. Important metrics:
- Page load speed – users don’t like to wait, so the faster a page loads, the better.
- Time on site is an indicator that demonstrates how interesting and useful the content is.
- Bounce rate – shows the percentage of users who left the site after viewing one page.
- Improving UX helps not only to retain users but also to increase conversions.
Engagement metrics
Engagement is measured through user interaction with your content: likes, comments, reposts, clicks on links, etc. This data helps to understand how interesting the content is and how much it resonates with the audience.
It is important to monitor the dynamics of engagement to adjust your content strategy and create materials that really “catch” the audience.