Metric is the way of measuring various activities and performance for achieving any type of target in any business optimization initiative. There are different kinds of business metrics used by companies, including:
- Marketing metrics – measurable values that show the performance of various social campaigns, accounts, etc. Improving your marketing KPIs can provide successful progress tracking and defining the best ways for achieving stable growth. Examples: SEO Traffic, SEO Keyword Ranking, Incremental Sales, etc.
- Sales metrics – measurable values used to control and improve sales. Analyzing the sales indicators can help in enhancing the business strategy, choosing the most efficient methods for the ROI increasing. Examples: Sales Growth Rate, Product Performance, Average Transaction Value, Revenue, etc.
- Financial metrics – measurable values used for properly accounting the revenue and managing financial data. This is important to estimate the most beneficial strategies and key processes that maintain the fiscal health of your business. Examples: Current Radio, Working Capital, Debt to Equity Ratio, etc.
- Social Media metrics – measurable values used for tracking the social media campaign performance. Social media marketing now remains one of the key parts of any business, as it can significantly increase brand awareness on the Internet, cover the most important traffic stats and boost product performance online. Example: Social Traffic, Facebook Page Stats, Twitter Followers Statistics.
