The Internet is a powerful tool for any company looking to grow their business, and digital marketing strategies are key to this effort. Popular practices include content production, investments into social media channels like Facebook, paid advertising on sites such as Google Adwords that target potential customers based on keywords; all these things can not only attract new clients but also direct them down your sales funnel!
Your digital marketing strategy should be designed according to the characteristics of your company and your target audience.
To do so, it’s essential to adopt an analytical approach, observing the aspects that are performing well and those that need to be optimized — that’s where Digital Marketing metrics come in. Using performance indicators is essential for you to keep your strategy in constant improvement, delivering better results to your company or client.
To help you, we created this list and explained the 10 main Digital Marketing Metrics you should be watching.
Total website visits
It is vital to monitor and track the big-picture number as it will give you an idea of how effective your campaigns are at driving traffic. Your website is where the most relevant information about your business is located, and you can use your website for blogs, which is a key method to attracting and nurturing leads. Therefore, one of the most important Digital Marketing metrics is Total Site Visits. It measures the overall number of visitors to your website, which should be carefully observed. This number should grow steadily over time; if it drops month to month, it’s time to take a hard look at your marketing channels to identify the problem.
2. Traffic by source or channel
Knowing your total traffic volume is important, but knowing where each visitor comes from can be even better. Segmenting the sources of visitors to find out which channels are overperforming or underperforming can give you a clearer picture of what needs optimizing so that more people see your website and convert into customers! If you notice, for example, that few of your visitors arrive by organic search, this may indicate that your SEO approach needs to be optimized.
These are the most common traffic sources for your site:
Direct visitors: the users who access your website by typing the URL;
Organic visitors: those who reach your website after using a search engine tool;
Referrals: visitors who visit your page after clicking on a link;
Social media visitors: those who come to your website from social media channels;
Paid visitors: users who found your content by the ads on search engines.
3. Bounce rate
The bounce rate is the number of people who visit your site and leave right away without performing any meaningful action. A high Bounce Rate is a strong signal that your digital strategy must be optimized. This can happen due to a series of reasons such as you are attracting the wrong audience to your website, you don’t have good CTAs, the content is not valuable enough to the reader.
4. Exit rate
The Exit Rate is a helpful metric for websites that have multi-page conversion processes. Unlike Bounce Rates, this indicator shows how many users leave your site from specific pages. Presented in percentage format, the Exit Rate is calculated by dividing the number of visitors who got out of the page by the total number of visits it received. This helps you identify drop-off points in your conversion process so you can optimize accordingly. A page with a high Exit Rate may show responsiveness flaws or simply offer content considered irrelevant by the audience.
5. Mobile traffic
Mobile Traffic is a huge part of your strategy. In order for visitors to have an optimal experience on the website and leave more quickly, it's important that you make sure all pages within the site are mobile-friendly in order to optimize the user experience and decrease both Bounce Rate and Exit Rate. To evaluate your strategy, find out the percentage of visitors who visited through mobile devices.
6. Click-through rate (CTR)
Click-Through Rate is a measure of how successful your email marketing campaign has been. It's the ratio between those who click on one specific link and total views. When we talk about paid media, the higher the CTR, the lower will be your cost per click.
7. Cost per conversion
To calculate the Cost per Conversion, you must first define what is considered a conversion. It can be the moment when the visitor becomes a lead, the moment when they download material or even the act of purchasing something. but the overall metric is extremely important, because it ultimately determines your margins. Why? A high cost per conversion can turn a high conversion rate into a negative if the costs are so high they drop your net income too much.
8. Engagement rate
The engagement rate helps you identify the percentage of your total audience that actively engages with your content, either through likes, comments, or shares. While this metric is usually applied in social media strategies, engagement rate can still be stilled on more than one channel.
Through the engagement rate, it can tell you how actively involved your audience is with the content you have posted and how effective your campaign is.
9. Net promoter score (NPS)
NPS is a metric that can help gauge customer loyalty, satisfaction, and enthusiasm with your business. This is achieved through asking customers “On a scale of 1 - 10, how likely are you to recommend this product/company to someone else?” The aggregate NPS scores can help you improve your business’s services, customer support, delivery, etc. for increased customer loyalty. A high NPS indicates you have a healthy relationship with your customers who are likely to act as evangelists for your business. While NPS is useful, but by itself, it is not enough to be useful or give a clear view of the complete picture
10. Return on investment (ROI)
ROI is used to evaluate the efficiency or profitability of an investment or compare the efficiency of a number of different investments. ROI tries to directly measure the amount of return on a particular investment, relative to the investment’s cost. In this case, the ROI helps show us how much profit a marketing campaign or activity has generated relative to the cost of it.
Depending on the stage you are at on your digital marketing funnel, some metics are more important than others. If you can effectively use these marketing metrics, it will give you a pretty accurate view of how you are performing, what channels are working, and where you need to improve.
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