As more businesses embrace digitalization, the need to find a way to measure their efforts is on the rise. While several organizations understand the importance of digital marketing, many fall short of leveraging it for their businesses.
Researching, planning and creating an excellent digital marketing campaign is nothing short of a job well done, but how would you analyze the campaign’s effectiveness to achieve your business goals?
In this post, we will go through some key KPIs that can you should cover when analyzing the success of their digital marketing approach:
Digital Marketing ROI
Our brand app development company believes analyzing digital marketing ROI is crucial to find out the effectiveness of your digital marketing efforts.
Assessing the return on investment (ROI) is crucial in determining whether a company’s digital marketing endeavors are valuable or not. However, this can be a challenging question to answer.
Once a business is aware of its digital marketing ROI, it can identify which campaigns are worthwhile and which ones should be discontinued. By recognizing which campaigns provide more returns than their cost, businesses can focus their efforts on those areas to ensure success with every new campaign launch.
Website Conversion Rate
Leading brand design and development agency like ours enable businesses to make their websites accessible to customers around the clock. In addition, social media and digital ad campaigns consistently bring potential customers to the sales funnel. However, once a customer lands on a product page, they may not browse for long or make a purchase.
Although a successful digital marketing ad can bring a potential customer to the website, it does not guarantee a sale. Nonetheless, by monitoring website conversion rates, businesses can determine if a campaign effectively converts new visitors into potential buyers.
New and Returning Visitors
Depending on the website objectives and the customer’s purchase cycle, you may want to increase either new or returning users. Therefore, our brand design and development services strongly recommend determining what is essential to you at the beginning of the campaign and designing a strategy that aligns with your objectives.
In simpler terms, if your primary objective is to attract new visitors, you should aim to increase the share of new traffic. However, if your target customer typically revisits the site multiple times before making a purchase, it may be beneficial to create a campaign that encourages them to return to the website. In this scenario, it is vital to monitor the percentage of returning traffic.
Track by source
Being aware of the primary source of website traffic is beneficial. It enables businesses to categorize their digital marketing strategies based on effectiveness and areas requiring improvement. By monitoring traffic by its origin, businesses can focus their resources on underperforming campaigns and assess whether such efforts are worth the investment.
Consequently, businesses can make informed decisions and allocate resources to the campaigns that produce the most substantial results.
Here are the four primary traffic sourced by major analytic tools:
Organic Search: Users in this category access your website by clicking on a search engine result link.
Direct Visitors: These are users who directly type your website URL in the search bar or have bookmarked it and returned for a visit.
Referrals: These are users who access your website by clicking on a link from another website.
Social: These are users who find your website through your social media profile or content posts.
Average Time Spend By Visitors
Evaluating the average time spent by users on the website is an effective way of measuring the level of engagement they have with the content.
Additionally, analyzing the average number of pages viewed per visit alongside this metric provides a more profound insight into the content engagement. Professionals at our brand design and development agency think the more time users spend on the website and the more pages they view, the higher the probability that they enjoy the content and have a positive experience on the website.
Click-Through Rate
Keeping a close eye on your click-through rate (CTR) is essential for monitoring your campaign’s effectiveness. CTR is a versatile metric that can be used to assess various marketing channels, such as landing pages, digital advertising, social media and email marketing. Similar to other metrics, CTR enables you to gauge the level of value that you are delivering to your intended audience.
The significance of CTR lies in its ability to indicate how well you are engaging with your target market and addressing their needs or challenges. Therefore, a higher CTR signifies that you are effectively reaching and resonating with your audience.
Website Content Engagement
Our brand development services emphasize monitoring content engagement since it’s important when it comes to assessing the effectiveness of a digital marketing campaign.
Content engagement allows marketers to measure the level of likes, shares, comments and clicks on their social media content. By doing so, you can determine whether your content is engaging and whether your target audience is actively engaging with your message. This can impact the overall success of your marketing campaigns.
Customer Acquisition Cost
When a business website attracts individual users through a digital campaign, there is a cost involved. The initial cost is known as the “lead” cost, which must be minimized to ensure profitable margins during the campaign.
It is essential to calculate the cost per lead for all digital marketing initiatives, including website banners and social media campaigns. By monitoring the cost per lead for each digital campaign, companies can determine the most profitable program and make informed investment decisions. Our clutch app development believes customer acquisition costs should not be overlooked when measuring the effectiveness of a digital marketing campaign.
Exit Rate
As you evaluate your marketing efforts, be sure to incorporate exit rate as a key digital marketing metric. This metric indicates the frequency with which visitors leave a page after viewing one or more pages on your website.
By monitoring your exit rate, you can identify areas of weakness in your digital marketing strategy. If a particular page or campaign has an unusually high exit rate, it is an indication that something is not functioning correctly.
Impressions
Impressions refer to the overall count of views that your website, advertisement, or social media post receives. This is a critical metric to monitor in relation to your key performance indicators (KPIs) as it reflects your level of visibility and brand awareness.
Additionally, it provides a means of assessing whether your message resonates with your audience. If your social media posts have a high number of impressions but a low click-through rate, it may be necessary to revise your message to align with your goals.
Let Cmolds Help You Measure Your Digital Marketing Efforts!
Whether you are an individual or a business, it’s important to track, analyze and measure the success of your digital marketing strategy.
Here at Cmolds, our brand development services can play a crucial role in building your brand. We can help you analyze the performance of your current digital campaign efforts and provide you with solutions to achieve your digital marketing goals. Connect now!