How to Measure the Impact of MarCom Campaigns: Key Metrics to Track

Did you know that 64% of marketers say proving the ROI of their campaigns is their top challenge? (Source: HubSpot, 2023). In a world where every click, open, and conversion can be tracked, the success of your communications campaigns hinges on your ability to measure and act on the right data. But with so many metrics available, how do you know which ones truly matter?

In this quick-start guide, we’ll break down the essential marcomms KPIs you need to track, explain how to use A/B testing and attribution models to optimize your efforts, and share real-world case studies of marketing communications campaigns that turned data into measurable success. Let’s dive in.

Why Measuring Marcomms Campaign Impact Matters

Before diving into comms metrics, it’s important to understand why measurement is critical. Tracking the right KPIs (Key Performance Indicators) helps you:

• Prove ROI: Demonstrate the value of your campaigns to stakeholders.

• Identify What Works: Pinpoint successful strategies and replicate them.

• Optimize Budgets: Allocate resources to the most effective channels and tactics.

• Improve Audience Engagement: Tailor your messaging to resonate with your target audience.

Without data, you’re essentially flying blind. Let’s explore the key metrics you should be tracking.

The Best KPIs for Evaluating Marketing Campaign Success

1. Open Rate

• What It Measures: The percentage of recipients who open your email or view your message.

• Why It Matters: A high open rate indicates that your subject line or headline is compelling and relevant.

• Benchmark: Average email open rates hover around 20-30%, but this varies by industry.

2. Click-Through Rate (CTR)

• What It Measures: The percentage of people who click on a link within your communication.

• Why It Matters: CTR reflects the effectiveness of your call-to-action (CTA) and content.

• Benchmark: A good CTR is typically between 2-5%, depending on the platform.

3. Conversion Rate

• What It Measures: The percentage of users who complete a desired action (e.g., making a purchase, signing up for a newsletter).

• Why It Matters: This is the ultimate indicator of campaign success, as it ties directly to your goals.

• Benchmark: Conversion rates vary widely but average around 2-5% for most industries.

4. Bounce Rate

• What It Measures: The percentage of emails that fail to deliver or web pages that visitors leave without interacting.

• Why It Matters: A high bounce rate can indicate issues with your email list quality or website user experience.

• Benchmark: Aim for a bounce rate below 2% for emails and under 40% for web pages.

5. Engagement Rate

• What It Measures: The level of interaction with your content (e.g., likes, shares, comments, time spent on page).

• Why It Matters: Engagement metrics show how well your content resonates with your audience.

• Benchmark: Social media engagement rates average around 1-3%, but this varies by platform.

6. Return on Investment (ROI)

• What It Measures: The revenue generated compared to the cost of the campaign.

• Why It Matters: ROI is the ultimate measure of profitability and effectiveness.

• Benchmark: A positive ROI is the goal, but industry standards vary.

How to Use A/B Testing and Attribution Models for Marcomms

A/B Testing: The Key to Optimization

A/B testing (or split testing) involves comparing two versions of a campaign element to see which performs better. For example:

• Test different subject lines to improve open rates.

• Experiment with CTAs to boost click-through rates.

• Try varying visuals or messaging to increase conversions.

Best Practices for A/B Testing:

• Test one variable at a time for clear insights.

• Use a large enough sample size to ensure statistical significance.

• Run tests for a sufficient duration to capture meaningful data.

Attribution Models: Understanding the Customer Journey

Attribution models help you determine which touchpoints contribute most to conversions. Common models include:

• First-Touch Attribution: Credits the first interaction a customer had with your brand.

• Last-Touch Attribution: Credits the final interaction before conversion.

• Multi-Touch Attribution: Distributes credit across all touchpoints in the customer journey.

Why It Matters: Attribution models provide a clearer picture of how your campaigns work together to drive results, helping you allocate resources more effectively.

Case Studies: Data-Driven Marketing Campaigns That Delivered Results

Let's consider a few campaigns and marcomms strategies that worked for some of the marketing titans. Regardless of their most successful products and services, these are proven strategies that can be applied to various industries.

Case Study 1: Spotify’s Personalized Email Campaigns

Spotify used data analytics to create hyper-personalized email campaigns, featuring users’ most-listened-to songs and artists. By tracking open rates, CTR, and engagement metrics, they achieved:

• A 30% increase in open rates.

• A 20% boost in click-through rates.

• Higher user retention and satisfaction.

Case Study 2: Airbnb’s A/B Testing for Listings

Airbnb conducted A/B tests on listing photos and descriptions to optimize conversions. By analyzing conversion rates and bounce rates, they discovered that high-quality photos increased bookings by 20%.

Case Study 3: Coca-Cola’s Multi-Touch Attribution

Coca-Cola used multi-touch attribution to understand the impact of their multi-channel campaigns. By tracking customer journeys across TV, social media, and in-store promotions, they optimized their budget allocation and saw a 15% increase in sales.

Conclusion: Turning Data into Action

Measuring the impact of your communication campaigns isn’t just about collecting data—it’s about turning that data into actionable insights. By tracking the right KPIs, leveraging A/B testing, and using attribution models, you can optimize your campaigns for maximum impact. The case studies above demonstrate how data-driven strategies can lead to measurable success.

Ready to take your communication campaigns to the next level? Start by identifying your key metrics, experimenting with A/B tests, and analyzing your customer journey. OR, you could work with marcomms experts to help you optimize your campaigns.