5 Digital Marketing KPIs to Track to Ensure Better Revenue. In business, key performance indicators (KPIs) help you get an overview and evaluate your strategies to better adjust them. Measuring digital marketing KPIs is one of the fundamental tasks of a marketing team. Why ?
Because digital marketing, more than any other form of marketing, is built on the proper use of KPIs. With digital marketing, almost everything is measurable. You can determine the cost of your marketing strategy at each stage and determine your return on investment. However, beyond this ability to measure, challenges and questions arise. Among these challenges we find:
What KPIs should you track?
5 Digital Marketing KPIs to Track to Ensure Better Revenue. Do these KPIs accurately reflect your “wins and losses” in reality?
How can you “adjust” these KPIs in a positive way?
Although these challenges are difficult, it is very important to master them.
The challenges and opportunities of digital
The world is moving more and more towards digital. A clear example is the recent explosion of smartphones. Not so long ago, mobile phones were used to call or send text messages to friends, they were as big as walkie-talkies and extremely expensive.
Effective marketing techniques require an industry email list. By connecting with targeted audiences, organizations can ensure customized industry email list communication that increases engagement and conversion rates. Companies may improve brand awareness and client loyalty by segmenting contacts based on industry and delivering pertinent material accordingly. In the end, an email list that is kept up to date is a valuable resource for increasing sales and promoting business expansion.
Now, you could run a Facebook ad campaign specifically targeting smartphone users, because the audience is larger on mobile than on desktop.
5 Digital Marketing KPIs to Track to Ensure Better Revenue. Smartphones only really became “attractive” in 2011. And yet, in just 5-6 years, their market penetration has been meteoric. This kind of rapid change is becoming the norm in our modern economy. This graph allows you to visualize the place of mobile in the digital economy.
Start from your fundamentals
Get started with standard digital marketing KPIs. These include page views, bounce rate, conversion rate, return on investment (ROI), and more. You can track them all with Google Analytics KPIs and metrics available in your GA account.
That being said, a common mistake in setting digital marketing KPIs is tracking too many of them. There are a lot of “vanity” metrics that seem important to flatter your ego, but don’t directly contribute to your bottom line. Ego-flattering metrics can include:
Facebook, Twitter, Pinterest followers
The number of likes and shares your post receives.
How many page views does your website get?
What all of these vanity metrics have in common is that they are surface level. They are not tied to real-world metrics like revenue.
Our digital marketing philosophy is that “Everyone should be in the business of growing revenue.” This is a mindset rooted in direct marketing, as opposed to “creative” or “brand building” marketing that cannot show ROI.
So, if you want your marketing to have a good ROI, you need to focus on KPIs that focus on the areas that have the greatest impact. Here are some factors to consider when looking for tangible results:
Where do you spend your marketing money?
Does social media pay off in the long run?
How many qualified leads come from mobile?
Are landing pages achieving their intended goals?
Is the KPI dashboard configured correctly?
So far, we have stopped at an overview of the topic. Now let’s take a look at some digital marketing measures.
Top 5 KPIs in digital marketing
5 Digital Marketing KPIs to Track to Ensure Better Revenue. Customer Acquisition Cost (CAC)
Customer acquisition cost is the total expense required to convert a potential customer into a customer. CAC includes the cost of the product plus all other costs—like research and marketing—expended to attract a customer.
The phrase “you can’t control what you don’t measure” is very apt when it comes to measuring your acquisition costs. Two common CAC failures, especially for startups, are underbudgeting for customer acquisition and poor data measurement. According to Lon Safko , a professional speaker and social media strategy coach, “Every company should review their customer acquisition cost at least twice a year and after every campaign.” Quarterly is a reasonable and more practical metric.
For an in-depth and accurate look at your acquisition costs, break them down across your different channels or campaigns by quarter.
a) Organic traffic google organic search How much are you spending to grow your organic traffic? What are your true customer acquisition costs for this channel?
It should be noted that this digital marketing KPI is difficult to track because the actors and actions are often multiple, they can include the work of collaborators dedicated to this activity for example. You may not be able to see right away that your site traffic is increasing, but it is important to continue your efforts in this area because the results are very valuable.
The value begins to manifest itself when your site ranks at the top of organic searches. Your content gains credibility. You are seen as an expert and this builds trust with your visitors.
Customer trust often costs money, but it cannot be bought. It must be built.
The costs associated with building this trust do not represent a purchase, but an investment.
The investment, often substantial, is most often made upstream by building and maintaining your website so that it is user-friendly and search engine friendly. It’s easy to factor into your long-term digital ROI and spread over an amortization period, while monthly maintenance fees easily factor into customer acquisition cost.
b) Paid traffic
google adwords cpc paid trafficThe second dimension of this digital marketing KPI is paid traffic. Paid traffic can require a high monthly budget, depending on the keywords you invest in. The costs (and the results you get from them) depend greatly on how you implement your campaigns. Your operational therefore depends on a number of factors, such as:
Knowing your customers and your niche?
Your understanding of customer psychology .Your writing skills
Your mastery of the advertising platform and the relevance of your ads.
You also need to hire a digital marketer who knows the niche and the customers inside out. They need to know how to position a high-value offer in a way that is relevant to a given advertising platform. A marketer who just throws money at Facebook ads because they’ve heard that’s what everyone else is doing will have a hard time justifying the costs of their campaigns.
However, it must be said that there is a monetary “learning curve” on any advertising platform, which can be considered an initial cost necessary for long-term success. A PPC (Pay Per Click) campaign can be the ideal tool for specific and autonomous needs such as the introduction of new products or services. With PPC, it is easy to see the returns for each campaign if you track the right digital marketing metrics, such as:
How much did we spend on a particular campaign?
What was the average lifetime value of these customers?
How do these metrics compare to customers canadian healthcare medical email address acquired through other channels?
Finally, some seasoned campaign managers will tell you that on any advertising platform, there is eventually a point of “diminishing returns” where the extra dollars spent start to yield a lower than average return. Additionally, paid traffic campaigns need to be constantly monitored to ensure they are performing well.
This is why it is so important to also use other sources of traffic so that your business is not dependent on just one source to acquire new business.
c) Social traffic
KPI for social networksWhen measuring your digital marketing, social traffic obviously plays a big role. How much do you want to invest in social each month? Engagement may be the goal of social traffic, but conversions are the goal of your business. Is social media helping you convert your efforts into business? Are you producing enough quality content and is it published on the right platform?
For example, if you’re trying to attract a senior executive audience, LinkedIn might be the better platform even though Facebook has a larger audience but also, you’ll be reaching that demographic as they have different activities depending on whether they use one platform or the other.
d) Email Marketing Campaigns
KPIs for Email Marketing CampaignsTracking open and click-through rates are fundamental digital marketing KPIs for building longer-term campaigns. Are customers consuming the content you send? Do you have a solid content strategy? Are your emails building a relationship with your target audience or are they alienating them due to inbox clutter? Tracking all of these digital marketing metrics will help you refine your campaigns with each send.
Pay special attention to list burnout, which happens when you send irrelevant information to your customers too often. This can be seen in your digital marketing KPIs as a gradually decreasing average open rate on your emails. To avoid this, it’s wise to use segmentation. This is where you group your customers into different “lists” based on their interests.
An easy way to do this is to have a core sequence of emails that all of your new leads receive, with a broader focus. Within this series of emails, you can link to articles or other helpful resources that are more “niche.” Then, using your email marketing platform, you can “tag” prospects who click on those links.
For example, if you are a digital marketing agency, you might have the following niches: Facebook Ads, Google Adwords, Content Marketing, and Content Strategy, and then different lists for each of the categories.
Then, if you produce a new article about how Facebook Ads can be a powerful tool for B2B businesses, you could send an email with just the article link to your “Facebook Ads” segment.
By doing so, you ensure a higher open rate on all your emails, and avoid sending emails that don’t interest your prospects.
e) Press/Television/Radio/Non-digital advertising
While it can be difficult to track visitors who find your site through a magazine or radio ad, it’s helpful to know the impact of non-digital marketing campaigns.
Tracking is comparing traffic with campaign sending (execution dates).
Were there any spikes during the campaign? If not, is a media strategy a worthwhile investment when digital might be enough? If there were relevant changes in traffic, is it worth continuing offline campaigns?
Ever since businesses were able to track key performance indicators (KPIs), customer acquisition cost has been at the top of the list. If you don’t understand which of your expenses are in that order and which are investments, you’re just betting on the unknown.
A well-crafted KPI can highlight where you’re making smart investments and where you’re throwing money away.
2. Landing page conversion rates
Our second digital marketing KPI is the landing page, which is a great marketing tool. As a standalone page separate from the main website, it is designed around a single, focused goal. To be effective, landing pages must facilitate valuable conversions. The action you want the user to take must be explicit and your message must be clear.
On a landing page, you can limit the options available to visitors and guide them toward a specific goal. Tracking becomes simple and changes are easier to evaluate. Landing page conversion rates (i.e., whether the page successfully completes its intended goal) can depend on a number of things. The primary consideration, of course, is what conversion is.
Subscribe to a newsletter or download a white paper?
If it’s as simple as a request for more information, you can expect a higher conversion rate, sometimes up to 20%.
Are you asking your user to sign up for a free trial, but will they require them to include their credit card information? You should expect a much lower conversion rate.
Landing page conversion rate expectations should be in line with the engagement you expect from the user. Another important factor is the channel. How the afb directory user reached your landing page plays a big role. Did the user find the landing page organically or were they led there from a site they already trusted? While it may take longer to see results, these options typically convert higher search traffic than paid search traffic.
a) Organic traffic
5 Digital Marketing KPIs to Track to Ensure Better Revenue. If your landing page has been designed around targeted keywords and a clear theme, organic searches will drive traffic. In your Google Analytics account, Google prepares a custom report in which you can measure the quality of your organic search traffic. This can and should be done for each landing page. From there, you can track goal conversion rates, revenue, and session value to demonstrate the value of organic traffic.
Additionally, one of the most valuable dashboards you can create is an analysis of your top converting landing pages. This will help you understand what content is most engaging to your audience. In turn, this helps generate ideas for future content creation. MOZ explained this concept in detail in a video of the famous Whiteboard Friday .
b) Paid search traffic
Conversion is the main element of your paid search strategy (CPC, AdWords, etc.). If you’re not looking to convert visitors into buyers at a reasonable price, what are your goals?
Conversion is always a focus. A/B testing can be important too. Developing your messaging, calls to action, etc. based on testing will help you increase your conversion rate by showing you what works and what doesn’t, or showing you what works better. Landing page perfection is somewhere between art and science. It’s an experiment. Make sure you clearly identify your goal before you start your test or you’ll be guessing.
Once you have formulated your hypothesis
5 Digital Marketing KPIs to Track to Ensure Better Revenue. Change things up a little bit to make sure you understand what made the difference. Whether you start with communication, call to action, or usability, make sure you track everything!
3. Mobile traffic conversion rate
Mobile website traffic KPIOur third digital marketing KPI concerns the predicted shift that has finally come to fruition; people are now accessing websites more from mobile devices than desktop computers.
Smartphones and tablets now represent more traffic than ever before. If your site is not optimized for mobile devices, you are missing out on a large portion of your targets. Not only is the number of visitors who find you on mobile a valuable metric, it also demonstrates the effectiveness of your mobile presence.
Google’s mobile update will help monitor bounce rate, but you should also track conversion rates for mobile traffic (and mobile-optimized landing pages). Initially, agencies were the only ones designing with mobile first in mind, which was a great start for optimization. Now, all digital marketers need to catch up and think more broadly about what mobile first means for marketing. Not only should websites be optimized for mobile, but marketing strategies should be as well.
Google Universal Analytics gives you all the options you need to track your mobile traffic conversion rate. A user searching for your site on any device is the same person, even when they change devices. The Universal Analytics User ID associates multiple sessions with a single user, giving you a more accurate view of your visitors and their behaviors.
Understanding conversion from mobile traffic can take some time, and you may need to tweak your campaigns regularly to see results.
