Level 2 Marketing Metrics are the channel-by-channel breakdown of marketing performance on the 📝Instrumentation Pyramid, and among the most complex metrics in a business to collect and understand.
They sit one level below 📝Level 1 Metrics, the Vital Signs that forecast the business. Level 1 carries totals such as ad spend, web traffic, conversion rate, and customer acquisition cost; Level 2 breaks them down so the business can be run, for example splitting web traffic into its sources. For marketing, that means spend, traffic, and customers acquired for each advertising channel. In 📝Monday Morning Metrics (MMM), each Level 1 metric links to its Level 2 breakdown.
The difficulty is collection. A number of apps extract data from the major ad platforms, but the long tail of advertising channels gets more and more costly and time consuming to 📝Instrument, since each additional channel is another data source to connect and reconcile.
The breakdown matters because totals can hide what each channel is doing. 📝Customer Acquisition Cost (CAC) blended across every channel, organic customers included, can look healthy while paid channels are not; Level 2 marketing metrics show the difference.