06 Nov 4 Digital Marketing KPIs You Should Know
Analyse and measure your campaign for optimal success
Did you know, that nowadays the average person spends more time online than watching TV and reading other media (newspapers, magazines, etc.)—combined? In addition, 80% of consumers say they do a lot of online research before making any significant purchase decisions. As a consequence, digital marketing budget is predicted to continue rising over the coming years. However, despite offering huge opportunity to increase sales, digital marketing is not free of challenges. One of the top challenges faced is executing consistent campaigns that drive desired business outcomes (leads and revenue). Moreover, most small businesses also struggle to measure the results of their campaigns. This is why planning a measurable campaign is very important to reach the optimal success. Remember the saying “A goal without a plan is just a wish”? Here is how you can measure your progress towards your goal through digital marketing.
What good does your digital marketing efforts bring if it can’t get people to visit and take a look of your products or services? Your overall traffic will give you a gist of your progress, so you really should keep an eye on your total traffic over time. Meanwhile, there are four main traffic sources, i.e., direct, referral, search, and social—also from campaigns such as banner ads or paid search. There are two success indicators to measure your progress here, i.e., increase volume of traffic from all sources and improvement of conversion rate related to any traffic sources.
After you get people to visit you, how can you measure their behaviour there? How do you know whether your website is delivering results? To get the view of that, you can measure your site’s bounce rate and average session duration. Knowing these two metrics will enable you to identify whether the customers found what they want from your site—otherwise left it immediately. Your site’s bounce rate is the average number of visitors who left your website after visiting only one page, in that sense, maybe you’ll find different bounce rate for different page on your site. A high bounce rate may indicate that your content isn’t engaging, or that your campaigns are misleading.
Among any other KPIs, conversion maybe the one that affect your business the most. Google defines a conversion as what happens when someone clicks your ad and then takes an action that you’ve defined as valuable, i.e., filling online form, signing up for newsletter, creating an account, or even buying something from your sites. Low conversion rates may indicate bad design, dull content, or indifferent audience. If your conversion rates are stuck around 2% or even lower, you’ll want to redo the page to boost it by fixing the component that’s not working.
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Search trends may be beyond your control. However, tracking it can be a great way to analyse whether the keywords you’re currently using can still bring people over to your site. As a start to find the optimal keywords, get to know what’s people looking for nowadays on Google trends. Experiment with different keywords, and measure its performance using keyword rankings which provides valuable information about your ability to improve on existing rankings or rank on new keywords. Update your keywords, don’t neglect the trends. Ensure your success by never walking behind the trend.
In addition to KPIs mentioned above, there are still many other ones that you may or may not need to track (i.e., cost analysis, user demography, social interaction, etc.). On the other side, since each project is unique, the KPIs you’ll want to track maybe vary according to your most important goal. Therefore, to get closer to your goal, carefully choose KPIs that matter to your business so you can start identify components that need attention, because in the end, you can not manage what you can’t measure, right?