Before you can determine whether your digital marketing campaign is successful, you need to set objective and achievable goals.
Starting with a Goal
Most of your online strategy is born from your goals.
Goal setting ensures that it is something you should strive for. Moreover, it provides a guide to digital marketing metrics that you will use to measure the success of one or more campaigns.
I'll put it another way:
You can't really measure without failed goals!
This fact doesn't matter what you are trying to measure. From digital marketing success to personal financial success, without goals, you're limited to two key analyzes:
"I seem to be making some progress."
Or:
"This doesn't seem to work."
A Time Frame Commitment
Accountability is a big part, if not the biggest, of achieving a goal. Whether you have 5 days or 5 months, you need to add a concrete time frame.
Setting the timeframe for your digital marketing campaign goals will help create a sense of accomplishment as well as urgency.
A time frame can also set parameters for comparison when you run digital marketing metrics reports to progress month-to-month or year-over-year.
Identify Success Factors
Let's say your goal is to earn 500,000 impressions from social media campaigns and attract 10,000 new visitors to the website. These are two excellent digital marketing success factors.
The key to this step is to determine a measurable result to get real figures that can be trainable or based on a growth model.
Be sure to determine how long you need to arrive at this milestone by considering a time frame. It could be a month or 12 months, depending on the effort behind the digital marketing campaign.
Provide Specific Details
When you think of digital marketing KPIs, there should be numbers assigned to them.
Simply "show the target audience to the brand content" is not enough. Prepare yourself for success by providing as much detail as possible.
Being specific to the details is better prepared to run your campaign by serving as a roadmap. It also helps you determine what's working and what's not when you're ready to measure effectiveness.
Create a Digital Marketing Measurement Template
Once you've chosen digital marketing metrics for your campaign, it's easy to put together a digital marketing metric template and provides valuable information.
This document will serve as a guide. It's something you can use (and change as needed) in every campaign.
A digital marketing metric template can include:
- Your first goals.
- An overview of what happened during the campaign (your digital marketing metrics will be written here).
- The things that work best and what you learn from them.
- Things that don't work very well and what you've learned from them.
Now you are ready to set goals before running a successful digital marketing campaign for your brand.
Let's take a look at the digital marketing metrics you'll use to measure the success of these goals.
Digital Measurement KPIs (metrics)?
1. New customers / potential customers per month
This commonly used metric shows the number of new leads acquired in the last month. A new potential customer can be someone who signed up for a free trial or created an account on your online retail site
How to measure: You can measure using your pipeline management software to get the latest data to see the number of new leads in a given period and filter leads by date.
How to develop: Increase the budget of cost-per-click advertising campaigns, create SEO-optimized content to be found in search engines, try new digital marketing tactics such as short-term social media campaigns and temporary discount offers.
2. Monthly qualified sales
Tracking the number of qualified leads shows whether your digital marketing campaigns are effectively focusing on targeted leads or just generating traffic that is not your potential audience. Expectations with the potential to become a paying customer can be divided into three groups:
Digital Marketing qualified leads - leads that the digital marketing team leads the sales team to lead and make decisions.
Potential customers accepted as sales (SPM) - expectations that the sales team has accepted and will follow.
Sales Leadership (SMA) - the salespeople evaluate potential customers and take the leads into the sales cycle, taking into account the customer base.
How to measure: Categorize all leads in your sales funnel using CRM software. Filter leads by tags and dates to see the monthly number of qualified leads in each measurement category.
How to develop: Create well targeted campaigns to reach the right audience, set a bid value to avoid misunderstandings.
3.Cost per probable sale generated
Every digital marketer should track their lead generation KPI. Cost per lead indicates the cost of acquiring a new lead. Complete with the cost-per-conversion metric, you can assess whether the various digital marketing activities are paying for the effort, time, and resources put into attracting new leads. So you can see if the stone you throw is touching the bird you scared.
How to measure it: Gather the time, resources, and money spent on Digital Marketing activities and compare the results to the number of leads per month.
How to develop: See what types of free and paid campaigns work best for you and increase the budget and time spent. Create and share quality content on social media to get organic natural website traffic and new leads.
4. Cost per conversion
It shows the cost of getting leads that turn into paying customers. While an advertising campaign can generate hundreds of leads for you, only less than 2% of them turn into customers. If cost per conversion is lower than your customer lifetime value, your digital marketing strategy is wasting resources rather than generating profits.
How to measure it: Depending on your lead conversion time, it can be helpful to track this metric over a two-month window (potential customers take time to convert). The source of potential customer acquisition i.e. google ads campaign, blog content, social media management, etc. Calculate the monthly cost of time and resources spent.
Next, put it in your sales funnel and use your digital marketing or CRM tool to see how many of that month's leads from a particular source turn into paying customers. Divide the monthly total cost of the lead by the number of conversions to see how much it will cost you to acquire a new customer.
Track different digital marketing channels separately for an accurate cost-per-conversion metric. This way, you find the most valuable leads and can devote your energy and resources to strengthening the reach of these channels.
How to reduce it: Create highly targeted digital marketing campaigns. Improve the user experience of your service or product.
Important! When managing cost-per-click ad campaigns, always measure cost-per-conversion rather than cost-per-click, impressions, and other specific metrics.
5. Average conversion time
Tracking the time that potential sales turn into paid users shows the effectiveness of your sales process. If the conversion time is too long, your potential customers may lose interest in your service or product and go to other competitors.
How to measure: Use your customer database software to gather data about the dates of acquiring new leads and converting them to a paid customer. Calculate the average time between being on sale and converting to a paying customer (or let your CRM tool do this for you).
How to reduce it: Make time-sensitive discount offers and provide useful information throughout the purchasing process. Use digital remarketing ads to remind your potential customers of your product.
6.Fidelity rate
This digital marketing KPI shows the number of customers who continue to use your product for a long time and make repeat purchases. By tracking the loyalty rate, you will see how well your customers are interacting. You can also evaluate whether your customer support and user experience help build and maintain customer loyalty.
How To Measure: Fidelity Rate = ((DM-YM) / BM)) X 100
DM = number of customers at the end of the period
YM = number of new customers acquired in a period
BM = number of customers at the beginning of a period
How to develop: Provides excellent user experience and product / packaging design. Respond to customer inquiries in less than 24 hours.
7.Loss rate
It shows the percentage of customers who no longer purchase your products or services. It can be a sign of poor user experience or slow service performance.
How to measure: Using your CRM tool, track how many customers stopped paying for your services or ordering your products over the past year. Calculate the churn rate as a percentage of your entire customer base.
How to reduce it: It depends on the quality of your services. To keep the churn rate low, avoid incidents such as slow customer service or abusive staff that would leave customers.
8. Net Referral score
How likely is it that a customer will recommend your product or service to a friend?
There are three levels of customer referral score:
1. Recommenders (9-10 points) are loyal enthusiasts who praise your company to others and drive your sales.
2. Passives (score 7-8) are satisfied, but enthusiastic customers who leave when they see a better offer.
3. Unhappy Customer (score 0-6) are unhappy customers who spread negative information about your company and could damage your brand image.
How to measure: This digital marketing metric can be measured on a ten-point scale by conducting customer surveys and interviews. The easiest way is to ask this question in a survey email that can be sent after an order for a product or a new subscription.
Subtract the percentage of Unhappy customers from the percentage of Referrals to calculate the Net Recommender Score. Share the results with other teams as they can also be used as an important sales measure.
How to improve: Provide the best customer service you can think of. Offer benefits and information your customers don't even expect to receive. The KPIs you follow should provide guidance to improve your digital marketing performance. Popular goals of website related digital marketing are to increase conversion rate and traffic to your landing pages.
9.Monthly website traffic
In addition to general traffic, your homepage, pricing page, blog, landing pages, etc. Track the number of visits to multiple page categories such as. Use these numbers to evaluate which parts of your website have the highest conversion rates and apply the best models to other pages.
How to measure it: Use Google Analytics to see the monthly traffic of all your web pages.
How to improve: To increase your website traffic, you can spend more on paid (cost per click) ads or create SEO optimized content to get visitors through relevant search engine results.
10. Comparison of Returning with New Visitors
By measuring the percentage of returning visitors, you'll see how engaged your audience is. For example, a low rate of return on a blog page could indicate that your content is not attractive enough for people to come back for more information.
How to measure: Use Google Analytics to learn about your website audience, including new and returning visitors.
How to improve: Provide useful information about your blog and landing pages; Use re-digital marketing ads to remind your past visitors of your brand and offers.
11. Visits per channel
Understanding your incoming traffic sources helps identify the most profitable digital marketing channels. If you ran a paid advertising campaign recently, you can evaluate a performance by looking at how much traffic (and leads) it brought.
How to measure: Use Google Analytics to track monthly website visits per channel. Set up the tracking codes for paid campaigns to get a complete overview of the traffic they generate.
How to improve: Create ads with compelling images and a compelling value proposition to increase paid traffic. For organic traffic, improve your SEO by linking your website pages and providing useful content. Increase your followers and share more interesting posts for higher social media traffic.
Consider tracking visits from digital marketing channels like social media, referrals, email digital marketing, and paid search.
12. Average time on page
This metric is important for organic search traffic as Google ranks pages based on relevance. If a visitor leaves your website right after they arrive, search engines know that the content they see is not what they are looking for.
The higher the average time your website spends on the site, the more likely you are to rank well in search results and convert more visitors to potential customers.
How to measure: Home page, blog, landing pages, etc. Use Google Analytics to track the average time on the pages of all page categories, such as. Get the Google Analytics browser extension to access data on monthly visits of a particular page, average time on page and more.
How to improve: Provide more attractive and useful content, add more information to your pages. Complete your landing pages with color images for neat and easy-to-read text.
13. Website conversion rate
A page can be visited thousands of times. But if it doesn't convert, there is no point in directing paid traffic to this site.
How to measure it: Google Analytics gives you an excellent overview of each page's conversion rate.
How to improve: Test something every month that can increase the conversion rate of your landing pages - Change Action Phrases, add images or replace pieces of text.
14. Conversion rate for call to action content
If you have created call-to-action web pages or content, you should measure whether they have been converted. This digital marketing metric is particularly useful if you use pay-per-click campaigns to drive traffic to specific pages. By comparing the price per conversion and the time spent by the customer, you can evaluate the sustainability of your content to drive.
How to measure it: This website KPI can once again be tracked with Google Analytics.
How to improve: Deliver an impressive value proposition, add more calls to action to your pages and content, test a variety of calls to action to see what works best.
15. Click-through rate on web pages
CTR shows how effectively your site's calls to action are getting people's attention and clicking for more information. This could be a call to action button or a link to another piece of content with the clickthrough rate you want to increase.
How to measure: Use a behavioral flow tool to see how many times a particular call-to-action button has been clicked. Use the Behavior Flow tool of Google Analytics to see how your website visitors are moving on your site.
How to improve: Include links to other website content such as blog articles and case studies on all landing pages. Create calls to action that make users want to click them.
16. Number of pages per visit
Do your website visitors leave immediately after they arrive on your site, or are they interested and staying for more? This digital marketing KPI shows if your site navigation is set in a logical order and includes an engaging call to action. What's more, you can see if visitors are affected by your content, meaning they are more likely to bounce.
How to measure: Use the Google Analytics Behavior tool to see how many pages an average visitor sees per session.
How to improve: Similar to website click average, you need to add more calls to action to your landing pages and direct visitors to the information they're looking for. You should make sure they navigate your website as easily as possible.
SEO (SEARCH ENGINE OPTIMIZATION)
Organic traffic from search engines is one of the most profitable leads for digital marketers. SEO metrics mainly focus on organic traffic and highly targeted leads.
17. Inbound links to a website
Only measure the quality of links on pages with high page rankings. The number of incoming links indicates whether your content is shared on other sites. It can also show if you have been recognized as an industry expert in a particular field.
How to measure: Use SEO tools like Moz, Alexa, or SEMrush to crawl the web and see all links to your website.
How to improve: Inbound links have a value, so create a model for your brand to be included in news, articles and reports. You can use guest bloggers to get targeted inbound links from websites of other brands.
SEO metrics inbound links
18. Organic search traffic
This SEO metric, Google, Bing, Yandex etc. It shows the number of monthly website visits from search engine results. Organic search is extremely useful as it is free and generates targeted leads.
How to measure it: Check Google Analytics and Bing SEO Analyzer to see how much traffic is coming from organic search per month.
How to improve: Improve your SEO to rank higher on search engine results pages (SERP).
19. New potential customers in organic search
Track the number of new leads finding your brand through a search engine query. This KPI shows the performance of your SEO strategy. Track this KPI as a percentage of all new leads to evaluate the value of organic search for your sales and profit.
How to measure: Use digital marketing analytics tools like Marketo, Hubspot, and Google Analytics to track how many leads are coming from the organic source. You can also access this data with a professional CRM tool.
How to improve: Make top ranking a priority for targeted keywords that are closely related to your service or a product offer. Build an SEO strategy and publish content that supports your keyword ranking goals.
20. Conversions from organic searches
See how many potential customers have turned into paid customers from organic search.
This KPI shows whether your keywords ranking high in search engine results are tied to your value proposition. A low organic conversion rate indicates that you may have high keywords that confuse the audience and give false messages about your service or product offer.
How to measure: Use your CRM tool and categorize paying customers by dates (eg last month) and leads (organic search). First, you need to find a tool that has all the necessary CRM features and many categorization options.
How to develop: Build an SEO strategy to rank high for highly targeted keywords, see Moz's great step-by-step guide. Next, make sure your lead approach is efficient and people want to sign up for your service or order products (consider improving customer service and offering discounts).
SEO metric inbound links
21. Page Value
High page value helps your content and landing pages perform well in search engine results. You can track your page rank with various SEO tools such as Moz and SEMRush.
How to measure: Use Moz's browser extension for a quick overview of each page's authority.
How to improve: Link to pages on your website. If you have a blog thread on a particular topic, make sure all articles are linked. Also, you need to get some links from different domains.
22. Google PageRank
This website metric is calculated by Google using various algorithms to determine the importance of web pages. It is based on the nature and quantity of inbound links that lead to a particular page.
How to measure: Use a page rank checker to see the value of this SEO metric.
How to improve: Get more inbound links to your website by blogging and presenting your brand to journalists via PR. Create quality content that users want to share and reconnect. Fix broken links on your website.
23.Key words in the top 10 SERPs
When users search on Google, they rarely move on to the second page of search results. In fact, if # 1 gives you an average click-through rate of 32.5%, ranking # 11 will result in a 1.0% click-through rate.
Track the top 10 keyword counts on a search engine result page to evaluate your SEO performance.
How to measure it: Using SEO software
How to improve: Create quality content and include variations of the same keyword on your website. Link to other relevant pages on your web page to create an entire network of interconnected content.
24. Ranking increase of target keywords
At the end of each month, watch how your best keyword rankings improve. Track the number of increasing and decreasing keywords to see if your SEO strategy is on track.
How to measure: All SEO tools provide weekly and monthly reports on your keyword rankings.
How to develop: Research your competitors' top keywords to get new ideas for your SEO strategy. Find ways to get new inbound links from websites with high page authority.
25.Conversion rate per keyword
If you can find a keyword that attracts lots of paying customers, it can be a real goldmine. This means that the keyword attracts a very targeted audience. If a keyword has a high conversion rate, find relevant keywords and create content that will rank high on SERPs with all of them.
How to measure: This is a little tricky Use your CRM tool to track customers who are organic leads and use landing page data to see how a customer first learned about your site. To do this, you need to link your digital marketing and CRM tools to Google Analytics.
How to improve: You can improve the landing page experience for each keyword by providing additional information and quality image content.
26.The number of unique keywords driving traffic
There is a simple logic - the more popular keywords you have, the more traffic you get. Track this SEO metric month-to-month trend to see if your newest keywords are bringing in more traffic.
How to measure: SEO tools report on keyword performance, including estimated search traffic by keyword
How to develop: Create new SEO optimized content with multiple variations of a keyword. Use many keyword variations in the linked text to supplement your old content with links to the new page.
SEO metric unique keywords
27.The traffic volume from video content
Video is becoming an increasingly used format in digital marketing, you need to add it to your SEO strategy. Research has shown that videos are over 50 times more likely to appear as part of mixed results on the first page of search results.
How to measure: Like previous SEO metrics, this KPI can be tracked with an SEO tool. Search for traffic from video sources (add "video" tag to all video links to quickly filter report results).
How to improve: Upload videos directly to YouTube, embed the video on your website and create a video sitemap.
Many businesses fail at paid advertising because they forget to evaluate their profitability. Include some of the advertising KPIs in your monthly digital marketing overview to improve your ads and save resources.
28.Leaders and conversions from paid ads
Track the number of monthly leads and conversions from cost-per-click advertising as a percentage of overall results. This way, you get an overview of your non-paid digital marketing performance.
How to measure it: If you use Google Adwords, the results are summarized in your Google Analytics account. Set up tracking codes for each one to make sure Google Analytics tracks all of your campaigns.
How to improve: Improve your ad copy and create well-targeted keywords that are only relevant to your unique value proposition.
29.Cost per acquisition (CPA) and cost per conversion
Tracking ROI is extremely important, as acquiring leads and customers through cost-per-click advertising can be quite expensive. You can even include this metric among other financial KPIs tracked by your company.
To keep your campaigns profitable in the long run, compare the cost per conversion with your customer lifetime value. You can also track the cost per acquisition, but it's the cost per conversion that reflects the true profitability of paid campaigns.
How to measure: This KPI should be calculated over a period of two months as leads take time to convert Calculate the monthly cost of all resources, time and money spent on paid advertising campaigns. Divide that by the number of leads for that month that were converted to paying customers.
How to develop: Target paid keywords with little competition (find keywords with well-targeted long phrases). Improve your landing page experience and provide helpful sales materials / customer support.
30.Click Rate in Pay Per Click Ads
This advertising KPI provides an overview of the effectiveness of your pay-per-click campaigns. If the CTR is low, it means your ad content is not attractive enough for a person to click.
How to measure it: All advertising tools show the clickthrough rate for each ad. Collect data to calculate its average monthly CTR.
How to improve: Test something new every month - change your Facebook ad design, improve your ad text, change your call to action text, etc.
31.Social Media
Your social media efforts should focus on two key ideas: building an inclusive community and turning them into customers. Check out common social media KPIs to track your Digital Marketing performance.
32. Traffic from social media
Track this social media KPI as a percentage of all visits and follow the monthly trend to understand the importance of various channels in your website traffic.
How to measure: Use Google Analytics reports to get a free overview of your website traffic sources.
How to improve: Get big followers, share interesting posts, create social media campaigns to increase awareness and get likes, shares and followers.
33.Leaders and conversions from social media
While many digital marketers see social media as a brand awareness channel, it can also serve as a profitable lead generation tool. Track monthly leads and conversions from social media to evaluate the efficiency of this channel in your digital marketing efforts.
How to measure: Use your CRM tool to track all leads and customers who are the source of “social media” leads.
How to develop: Check out a useful resource for generating leads on social media.
34. Conversion rate
Does your social media also represent potential customers or are your posts just clicked out of curiosity? Monitor the number of leads that become paying customers to gauge how well your social media lead is targeted. Conversion rate indicates the actual return on investment of your social media digital marketing.
How to measure it: After using a CRM tool to gather data from social media about your leads and conversions, you can easily calculate the conversion rate by dividing the number of leads by the number of conversions.
How to improve: Create highly targeted social media campaigns, target your competitor's audience, improve your sales process. Test your A / B creatives - design, copy, etc.
35. Managed audience size
Track the number of followers per channel each month to see if your audience is engaging. Increased follow-up is a sign that your social media posts are gaining attention and interacting with new people over time.
How to measure it: Use a digital marketing tool or check your social media channel reports to learn about post engagement and your new followers.
How to improve: Share interesting content, create social media campaigns, ask your friends to be more aware of your page.
36. Participation rate
These social media metrics show the number of people actively interacting with your posts (shares, likes, clicks, etc.) measure as a percentage of your total follower count.
How to measure: Use engagement-related digital marketing tools (Moz, Hubspot, Buzzsumo, and so on) and social media reports and use data on your total followers to calculate engagement rate.
How to develop: How often is your brand talked about on social media? Monitor the monthly trend of both positive and negative comments to evaluate your brand image. Use a word tracking tool and make sure you set its parameters and keywords tracked for accurate reports. Give people something to talk about - an incredibly useful product or service, great content, or company news.
37.Social media return on investment
Find your formula for measuring social media ROI. Social media digital marketing budget, staff payroll, development and design costs, etc. you can choose to include. The benefits can be new leads and customers, increased awareness, and social proof.
How to measure it: Since social media has many advantages that cannot be measured in numbers, you should evaluate your social media return on investment against your goals and advantages.
How to develop: Find social media channels with the highest return on investment and focus your digital marketing efforts there. According to Alexa, Facebook is responsible for 8% of all page views on the internet. LinkedIn and Twitter are responsible for approximately 1% of all page views. This means you'll get a higher return on investment on Facebook than any other social media channel.
Now that you are familiar with the numerous options of digital marketing KPIs, you can set up a tracking system and start tracking relevant business metrics. To compile a KPI report, you can use a KPI dashboard tool or set up a spreadsheet containing all the critical metrics you want to measure for more than a month.
Track only KPIs that are measurable and can be improved with a clear action plan. This way, you can use the data to improve your digital marketing strategy and focus your time and resources on the most profitable leads.
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