If you can measure it, you can improve it; these great words by Peter Drucker still rings true after so many years.
No business owner will throw money at you for e-marketing except you can prove with data the impact of digital marketing on their business bottom line. Therein lays the importance of tracking, measuring and reporting on vital metrics.
However, and this is especially true for newbie digital marketers; measuring the successes of their online efforts is quite ubiquitous; they feel overwhelmed and lack the knowledge to identify the key performance indicators they should be tracking. It becomes even more difficult when they are inadequately tooled to track these metrics.
So in this article, we’ll go over the critical metrics you should measure for every of your online marketing campaign.
But, first things first: Before measuring anything; in fact, before even beginning any marketing campaign, you need to define in clear terms what results from a digital agency you want to achieve. Are you trying to build brand or product awareness? Are you trying to pulling in more leads? Generate more sales? Engage with customers or to nurture a raving community of loyal customers?
Setting these goals simplifies the task of measuring your successes. The next step is identifying the key performance indices (KPIs) that are tied to the goals. For instance, you plan to pull in more qualified and hot leads, one of the KPIs should be monitoring the number of subscribers to your newsletter, number of downloads of your freebies, etc.
Below are other metrics to monitor:
Site Traffic: Measuring the number of visits to your site is an excellent KPI to understanding how your visibility building campaign is performing. You can even go further by measuring the behaviors of your site users, what page do they visit when they land on your site? How are they engaging with the contents of your website?
Interpreting these data in the right context, enables you to understand the user’s journey and seeking for ways to improve the experience for them.
The number of returning VS. New Traffic: Do your site visitor find your contents valuable? The importance of this is that it indicates whether your marketing efforts are building brand trust which is requisite for making purchases.
So, if the data indicates a high number of returning visits, it then means they trust you.
Conversion rates: The bottom line of every online marketing campaign is to get visitors take a specific action. It could either be to make a purchase, download a white paper, signup for your online course, subscribe to your mailing list – whatever the objective of the campaign is, the conversion rate is one essential metric to keep an eye on.
Bounce rate: Tracking this KPI gives you insight to whether you’re targeting the right audience with your message. A high bounce rate means, the site visitors leaves your site immediately the land on it which indicates that you’re not targeting the right individuals.
Tweaking your message or making changing to your audience personal could be all you need to start seeing results.
So there you have it, though depending on your goals there are several metrics to track for any given campaign; however, I believe these metrics provide a good starting point.