Before the introduction of digital marketing, it was possible to know how good a traditional campaign was based on new customers and store visitors, but it was rarely possible to calculate it accurately.
Today, however, analytics tools can be used to measure campaigns against a variety of key performance indicators (KPIs). Just because you can measure every part of your campaign doesn’t mean you should.
It’s easy to be impressed by all these metrics, but it’s also easy to focus on the wrong ones. If you spend too much time on unimportant metrics, you may be ignoring important metrics. Call
(408) 982-5851 to speak with a strategist about Xekera Systems digital marketing services and reports, or read on for 25 digital marketing KPIs to help you measure your online success.
Site Activity
Before you can achieve your other marketing goals, you need to drive users to your site. More importantly, target people who take action or show interest in your product.
Here are some ways to measure this his KPIs in performance marketing:
1. Returning Visitors: First-time visitors are always welcome, but returning visitors are no longer just looking around, they are getting much closer to your customers.
2. Time Spent on Website: By measuring this KPI, you can learn how many people visited your website and how many stayed on your website to learn more about your business.
3. Navigation path: Where do visitors go when they land on your website? Tracking website behavior can tell you what types of content are popular and how users make purchasing decisions.
4. Bounce/Exit Rate: This number tells you if users are leaving your site quickly, where they’re trying to leave, and if there might be a problem with your campaign.
5. Lead Generation Rate: What percentage of website visitors fill out contact forms or sign up for emails? This her KPI indicates whether your call to action is working .
6. Unique Visitors: Knowing how many people visit your website helps you determine the effectiveness of your marketing campaigns and other outreach strategies.
Sales and Revenue
Regardless of specific campaign goals, the overall goal of any marketing strategy is to increase sales and revenue
These numbers show how close we are to achieving it.
7. Revenue Per Customer: Knowing how much money each customer generates helps identify the most lucrative market segments.
8. Total Revenue: Measuring sales per customer helps you determine if you’ve reached the right prospects. Total revenue measurement measures the effectiveness of your entire campaign.
9. Total Sales: This can be measured by the number of purchases or the total number of items sold. Either way, it shows how much people are buying.
10. Conversion/Response Rate: This is he one of the most popular KPIs among digital marketers. The more people respond to your offer, the more successful your campaign will be.
11. Revenue per channel: Measuring the performance of each channel gives you the information you need to make each subsequent campaign more successful.
Profitability
You have to spend money to make money. This is the common belief. But how much money can you recover from your marketing expenses?
12. Cost Per Lead: It costs money to generate new business, but measuring the cost per lead tells you whether you are spending the right amount. I understand.
13. Profit per customer: Knowing what you spend to acquire a customer and how much money they make will tell you how much profit they make.
14. Net Profit: This was a common metric in traditional marketing, but today it shows how well your digital marketing strategy is doing to your business.
15. Return on Investment: This is similar to net income, except it is presented as a way of expressing how many dollars you make for every dollar you spend.
Customer Retention
Are customers loyal to your company or can they easily switch to another brand? Answering this question can be an indicator of long-term success
These digital marketing KPIs can help you find that answer.
16. Customer Lifetime Value: Loyal customers deliver value over months and even years. By measuring the lifetime value of each customer, you can identify and improve that value.
17. Retention Rate: Customers earn a profit the first time they make a purchase from your business. Retention rate shows how successful you are on your second order.
18. Likes and Shares: Your company needs to post frequently on social media. Likes and shares are ways to let your followers know you are paying attention.
19. Social media followers: This metric is becoming increasingly popular as social media influences brand awareness, sales and even search engine rankings.
20. Social Engagement: While likes and shares are welcome, engaging with the business on a deeper level, such as commenting on stories or participating in online discussions, demonstrates a high degree of brand affinity.
Brand Reputation
The Internet amplifies good news for businesses, but it can also amplify bad news. By monitoring this chatter, you can take steps to steer the conversation in a more positive direction. These KPIs will help you with the following tasks:
21. Brand Awareness: For consumers to know they like your business, they need to know it exists. Measure this KPI to see if this applies to your target market.
22. Market Share: The higher your company’s market share, the more productive and profitable it will be. Tracking this number is the first step to increasing it
23. Search Engine Ranking: Your ranking in search results is partly determined by your brand reputation. By following one, you can get an idea of the other.
24. Positive/Negative Comments: People get a good (or bad) impression when they read what others are saying about your business. That’s why you should pay attention to this KPI.
25. Media References: Consumers have a great deal of control over brand performance, but media can still play a role. Tracking the number of media mentions can help you understand what the media is saying and how often.
Want to get more insight from your digital marketing KPIs?
Great for improving, but it’s easy to get overwhelmed with the sheer number of stats available online. By paying attention to the right digital marketing KPIs, your campaigns will deliver the expected results.
If your company is looking to improve the way it manages or monitors its Internet marketing strategy, We can help. Contact us today to speak with a strategist!
