Best Digital Marketing Metrics
Best Digital Marketing Metrics
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Measuring the impact of a digital marketing campaign relies on analyzing metrics that really matter. In the digital marketing world, SEO agencies are really good at manipulating data and convincing clients that a campaign is successful. Pretty graphs and charts from Google may look good but is the digital marketing campaign actually helping to grow a business? Often times a business will be enamored with an increase in site impressions, Facebook Likes or even keyword rankings in search engines. But do these create sales or generate new leads?
The first measurable goal of any marketing campaign is an increase in phone calls. Most SEO agencies will look at keyword ranking or web impressions to determine if a marketing campaign is successful. But the real measure of an SEO campaign is the number of new clients that are calling to book appointments or inquire about products or services. If the phone is not ringing, the campaign is not working.
The marketing campaign can be generating a ton of traffic, but if it’s not converting and turning into phone calls, then the campaign is not working.
The more you know about your customers, the better you can create the right message and content for them. Knowing your audience helps target the marketing message to make the product or service become more relevant to your ideal customer. The content you create should align with what they’re looking for, and it should be formatted accordingly.
Creating and delivering marketing through multiple online marketing channels should create leads. Leads can and should be measured. Rule number one for a marketing campaign is creating a system to track every phone call, form submission and user interaction. Only by tracking each and every lead can a campaign be measured. If you can’t measure it, you can’t improve it.
Leads are the byproduct of a well-designed sales funnel. Each lead that is generated can be measured, which means that the success of each individual stage of the funnel can be measured.
More leads mean more sales. More sales means more revenue. More revenue means more income.
Not all site traffic is equal and traffic that converts into new customers is the only traffic that really matters. Traffic is necessary for increasing leads and making sales but traffic alone is not a number that a business should be enamored with. Traffic can be deceiving and high site traffic numbers can make a campaign look successful even if there is no increase in revenue.
That’s why it is important to know how to properly measure and manage your site traffic. 80% of all website traffic across the world originates from search engines. This traffic comes from organic SEO campaigns, local marketing strategies and PPC advertising. Conversion rates are 50% higher with traffic filtering through Google for 90% of USA businesses.
There are three types of traffic that is important to measure. Organic traffic, referral traffic and paid traffic. All three of these traffic types are important to understand and manage.
Organic traffic, depending upon the market, is often the highest converting traffic because ranking organically, or naturally in search engines, is a trust signal to consumers. Only a small number of sites will achieve top ranking and these pass through Googles algorithms to rank high. The top three ranking sites in a search engines results page generates 68% of the search traffic. This requires an expert SEO agency to deliver higher ranking and top results.
Referral traffic are site visitors who come to a web page by clicking on a link from another website. As an example, a user may be reading an article and click on a resource within that article to visit another site. Referral traffic may also come from press releases, social media channels and local business profiles.
Paid traffic is website traffic that is delivered through PPC advertising or ad placement on other websites. The model involves paying for each click and bidding against competition for higher ad placement. The top tow or three listing on a Google results page are typically paid advertisements.
An increase in sales is the most important measurement in any marketing campaign. The goal of any business is to increase revenue. Increasing sales through an organic SEO campaign can be measured by looking at an increase in the number of products sold of the number of new clients acquired. Simply measure the current numbers and track increases as the marketing campaign progresses.
The other way a marketing campaign can increases sales is by increasing the value of the product or service. Brand awareness, product testimonials, high search raking and a robust and active social media presence can create value for products. By sharing with potential customers the real solution a product or service provides, it increases the value and relevance of the product.
Measuring an increase in sales as an absolute increase can be distorted with a few outliers. A better way to look at an increase in sales is to measure it as a percentage increase. This allows business owners to compare and contrast a few campaigns to determine which campaigns were the most successful.
Measuring an increase in revenue sounds like a simple metric to track. But it is how this increase is broken apart that will allow for a business to make campaign decisions that will continue company growth. There are several ways a business can increase revenue.
More customers purchasing a product is the most common goal for a marketing campaign. This involves getting a product or services in front of more people and converting those people into customers.
Increasing the frequency that a customer purchases is also a great way to increase revenue. Often this involves knowing the lifespan of a product and notifying consumers when the product they purchased is due to expire. This may also involve notifying current customers of product updates, new business offerings or offering sales and discounts to entice more purchases.
Increasing the dollar amount per purchase can be done by up-selling the client and offering other complimentary products during the checkout process. Amazon does this very well showing users similar products other customers purchased together and delivers them in a package. A package of products not only makes for an easier client solution but it increases the dollar amount spent for the purchase.
The best way to retain customers is for a business to be more than just a place to buy something. Be the resource for consumers to find information and get answers. Offer a value proposition that helps customers understand how the product or service will may there life easier, happier, or more efficient.
Customer service is one of the top factors in customers becoming repeat buyers from a business. Answer emails and phone calls quickly delivering solutions to current customers.
We have all heard the saying “out of sight, out of mind”. Businesses should stay in touch with their current customers with business and product updates and offerings. It is far easier to sell and existing customer a product than to acquire a new customer. Treat loyal customers with deals and sales to entice them to continue to buy from you.