One of these concepts is the combination of performance and a good marketing strategy, called Brandformance. It is a combination that adds value to your brand through the analysis of metrics that work or not within the business.
Learn more about this strategy by accessing our Brandformance kit!
However, despite the benefits that this strategy brings, it relies on complicated measurement, meaning that there are certain metrics that, if not analyzed correctly, can generate unexpected results.
Key metrics to analyze
Measuring metrics is fundamental within Brandformance, after all, it is through these that you will have knowledge about what is beneficial or harmful for your brand.
In it, all feedback coming from interactions with consumers or potential consumers is transformed into data that can be measured and becomes important for managers' analyses.
The strategy may encompass several metrics to be analyzed so that the objective is achieved and future campaigns run smoothly. Here are the main metrics to be analyzed:
Pageviews: This is the total number of pages viewed, where repeated views on a page are malaysia phone number example also counted. You can access this metric through your Web Analytics tool;
Number of referrals from one user to another : a company that monitors its referral program can gain more clarity about its sales processes. This is calculated by dividing the 'number of sales per referral' by the number of sales in total, and multiplying this result by 100;
Conversion rate: this shows you the number of people who completed a desired action, i.e., converted. It can be calculated by dividing the number of leads by the number of visitors and multiplying by 100, and can be for either a specific or general context ;
CTR (Click Through Rate): this metric shows the relationship between the number of clicks and views of an ad. It is calculated in the same way, by dividing clicks (number of people who clicked on the ad) / impressions (number of views of the ad) x 100. According to a survey conducted by WordStream, a good CTR would be in the range of 6-7% or more, and the average company has a rate between 4-6%. Through the CTR you can see the efficiency of a campaign, therefore, it is very important for Digital Marketing;
CAC (Customer Acquisition Cost) : calculated by investing in marketing + investing in sales and dividing the result by the number of new customers, CAC shows how much your business invests in acquiring new customers;
Page view time: this is the average time each visitor spends on a given page. Paying attention to this metric and knowing how to improve it can improve your ranking on Google, help you evaluate the quality of your content and increase your conversions;
NPS - Net Promoter Score: an advantageous methodology that performs customer satisfaction surveys in a simplified manner. This model also allows the planning of new actions, promoting continuous improvement of your services ;
Repurchase Rate : You can access the repurchase rate by checking in your CRM which of your customers are new and which have already made a purchase. It is also important to pay attention to the origin of these purchases and understand what was invested for them to occur.
Building a Brandformance strategy requires a good understanding of its concepts, commitment and discipline. However, this effort will bring you many benefits.
Access to valuable information that will help you structure your brand to stand out in the market, precision in investment and direction of efforts are just some of the positive points of implementation, in other words, the Brandformance strategy is worth it!
Performance + Branding: learn more about the combination
Performance: assesses the strengthening of a given brand;
Branding: the objective of which is to make the brand known, whether through investments and/or marketing moves.
These two concepts together further improve sales, campaign and investment analyses, allowing you to learn more about successes and failures, optimizing your time and improving the ways of analyzing processes and everything involved in launching a campaign.
This sum prepares your company to impact the lead at all stages of the purchasing journey.