The terms marketing metrics and marketing analytics are sometimes used interchangeably, but they are different concepts. Marketing metrics are pieces of data in the form of numbers (values) that marketers track to determine the effectiveness of their campaign efforts. Examples of marketing metrics: email open rate, conversion rate, cost per lead, customer lifetime value, return on investment. More on marketing metrics in the next post.
Marketing analytics is the information you extract from the metrics to evaluate performance and make decisions about future activity. It’s the study of the data. You can compare data sets against each other, compare metrics month over month, or year over year, for example.
Marketing analytics software tools can help by collecting, organizing, and correlating the data so you can quickly and easily make optimizations.
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