Digital marketing is one of the most crucial ways a business can expand its internet presence. Through things like content creation, social media, and paid advertisements, you can attract customers and help them on their journey through your sales funnel.
Using performance indicators is crucial to keep improving your strategy to deliver better results. Without further ado, here are some of the performance metrics you should track during your digital marketing campaign.
5 Key Metrics to Track
Here are some of the metrics you should track when marketing.
Website Traffic
A huge goal of digital marketing is to attract customers to your site. This is where you can help them continue their journey forward, and if all goes well, you have a buyer for your product or service.
There are a lot of tools you can use to track your website performance with multiple factors to see which strategy works better for your business. While things like the overall views are worth looking at, there are other factors you need to be aware of.
One factor that matters is the Click Rate and the Click-Through rates (CTR). The Click Rate is the percentage of people who click on a link that takes them to your website. On the other hand, CTR is the number of people that click on the link, divided by the number of people who just saw it.
Perform traffic analysis and see how many page views you’re getting, their conversion rates as well as the ratio of new and returning visitors.
There are a lot of tools that can help you do this. However, you’re going to need a fast and reliable internet connection to run these tools. Always rely on the country’s well-reputed Internet Service Providers like Xfinity. The Internet speed and Xfinity customer service, on top of it, are unrivaled. With a trusted Internet having your back, you can get real-time insights to make quick, informed decisions to nurture or convert the leads.
Search Engine Ranking
Performing Search Engine Optimization (SEO) can be a great way to boost your credibility and authority online. This is because a higher ranking projects more trust in your target audience and crawlers on search engines.
This will encourage more visitors to come to your website which can lead to more engagement and sales. Good SEO also means that you’re going to get more organic leads to your website. This is done using a lot of tactics like on-page and technical optimization, keyword research, and link building.
SEO isn’t all about getting more traffic. It also involves optimizing the content, structure, and even the navigation of the website to improve the user experience. Ensuring that your website is approachable is a huge factor for search engine optimization.
In short, good SEO leads to higher customer retention rates, gaining more traffic, enhancing the user experience, and getting more sales.
Return on Investment
Return on Investment or ROI in digital marketing is used to measure how efficient an investment is. A high ROI means that the gains of an investment are more favorable compared to its cost. Measuring the ROI helps you identify strategies that work best and the ones that don’t. This will help you optimize your budget.
To check if your marketing efforts are working, set a target ROI at the start of the campaign and check to see if the campaign was able to deliver what’s needed. After the first time, check the marketing analytics and figure out what things are working.
If you’re spending more on a campaign and are earning less, it just means that something isn’t working. You can’t just pour your money into a campaign and expect it to work. Make sure you know which efforts are delivering the best ROI and allocate your budget accordingly.
Social Media Engagement
Social media can offer a lot of ways using which you can engage with your audience or potential customers. With the use of various social media platforms, you can build brand awareness, and show off feedback from customers.
Engagement metrics include things like reactions, likes, comments, shares, and brand mentions, as well as things like video completion rate and views.
By keeping track of these social media metrics, you can check the reach of your posts, and their impressions and figure out the audience growth rate, which measures how fast the following of your brand increases.
Keeping all the performance indicators in mind, you can perform a deep dive analysis which will allow you to recalibrate your approach if needed. Make sure to schedule regular reviews of your social media KPIs to make sure they are relevant and help you meet your goals.
Customer Metrics
Customer metrics might be the most important factor when measuring the success of your digital marketing efforts. After all, what’s the point of marketing when you can’t even sell your product?
The customer acquisition cost is arguably the biggest factor of digital marketing since it measures how much it’s going to cost to get a new customer. This is usually measured alongside the Customer Lifetime Value (CLV).
CLV is the amount you expect customers to spend with your business. Essentially, it’s the retention of a customer, which is also extremely important since acquiring new customers can be five times more expensive than retaining existing customers.
Best Tools for Measuring Digital Marketing KPIs
All the metrics we talked about above won’t be available for you to review on a silver platter. However, thanks to a lot of tools, these metrics won’t be hard for you to measure. Here are some of the tools you should use to measure the success of your marketing campaigns.
Google Analytics
Google Analytics is one of the most important tools you need to have in your arsenal when digital marketing. It can help you get insights about your marketing effectiveness as well as the traffic on your website.
It is a little more than a simple counter since it shows you the return on your investment, understands the customer’s behavior, and tracks your goals. Essentially, it helps you understand the flow of traffic on your website and what keeps people coming back.
Leads are a crucial part of digital marketing since it’s a contact that might turn into a customer. Google Analytics also has built-in tools for lead generation tracking. Using it, you can refine your strategy to keep your users coming back to your site or build new tactics to get more traffic from other channels.
Ahrefs
Ahrefs is a great tool for analyzing backlinks which helps you gauge how much authority your website has. Backlinks can serve as proof that other websites have found your content helpful and valuable.
Backlinks can be useful for your digital marketing campaign since they can help provide traffic to your site from search engines as well as improve search rankings organically since they act as a positive signal.
You can also perform keyword research, technical SEO, and keyword tracking. As you invest in the creation of digital content, monitoring the performance is a must, and Ahrefs is a great tool for that.
Mailchimp
Mailchimp is another great tool to have in your digital marketing arsenal. For marketing campaigns, Mailchimp is a two-for-one deal. This service is one of the best free tools for marketing you can get.
Not only that, you can use Mailchimp to make your landing pages, ads for social media as well as other content that can be used to connect with your audience. You can map the customer’s journey, which can help you make a personalized experience depending on how the customer interacts with the content.
The service also provides you with email marketing metrics which can be useful to track the effectiveness of your marketing campaign.
Analyzing Data and Adjusting Strategies
Data and analytics hold a lot of significance in the digital marketing landscape. Analyzing data will help you make informed decisions which helps in optimizing strategies and campaigns based on insights, rather than assumptions.
Based on the metrics, you can identify any trends in the data which can help you find the areas that need improvement in the future.
When you have the data, you can easily adjust your strategy. Make sure you set the stage to make your business more valuable in the long term. While you improve your strategy, it’s crucial to focus on customer service and experience.
To conclude, tracking KPIs and metrics in digital marketing can give you a real-time view of the performance of your campaign. You can use a dashboard to visualize analytics from your digital marketing efforts and try to improve your strategy to get better results.
