Marketing is more than just sending out email blasts and running ads. It’s about creating a brand that stands out in the crowd, and one way to do that is by focusing more on your metrics than your customers. Your customers may be your number one priority, but your metrics to measure their satisfaction can be much more critical.
1. Email Open Rates
This is the most popular metric used to measure customer satisfaction. The higher your open rate is, the easier it is for you to reach your customers and get their attention, and the more likely they are to be interested in what you have to offer. According to Jordan Sudberg, a low open rate could mean that potential customers are not getting your emails or your messages are not being read.
2. Conversion Rate
This is the percentage of people who respond to an email. Most email marketing software will record this metric for you, and if you have multiple email lists, the conversion rate should be tracked for each list. The conversion rate is a key performance indicator (KPI) used to determine what works and what doesn’t in your marketing campaign. According to Sudberg, an average of 1% of people respond to an email. If your conversion rate is low, it may mean that you are sending out too many emails or that your message is not being read.
3. Click-through Rates
Another common metric used to measure customer satisfaction is the click-through rate (CTR). The higher your CTR, the more likely your customers will be interested in what you have to offer. Click-through rates are measured by the number of people who click on your advertisements and then visit your website. This helps you gauge how effective your ads are, and it can also be used to determine what is working and what isn’t.
4. Bounce Rate
When people don’t visit your website, you have a bounce rate. If your bounce rate is high, people aren’t interested in what you have to offer, and they are simply not clicking on your ads. A high bounce rate can be caused by the low quality of your website, poor design, or too many ads on your website. Too many pop-ups or annoying advertisements may also cause a bounce rate.
5. Conversion Rate Optimization
This is testing different ways to make a sale or a lead. You can figure out which methods work best and refine your marketing strategy by optimizing conversion rates. This process is known as conversion rate optimization (CRO), and it is a crucial part of the marketing process. You need to test different methods and track the results to optimize your conversion rates. You can do this by creating multiple website versions and testing which one converts better.
According to Jordan Sudberg, advertising is an excellent way to get the word out about your business and reach potential customers. However, if you use the wrong metrics to measure customer satisfaction, you could miss out on many sales opportunities.