10 Essential Metrics To Measure Your Digital Marketing Efforts
20th March 2018
How you measure and analyse your digital marketing efforts can be the difference between wishful thinking and actual return on your marketing investment. Using the data analytics and metrics enables you to make informed decisions, it gives you the understanding of what is and isn’t working.
There are hundreds of metrics and analytical combinations you could measure to gain insight into your marketing efforts and customer behaviour. However, this can be time-consuming and complicated, so often it is best to simplify it and focus on the most important.
The good news is there are a few key metrics that are applicable to pretty much every digital marketing campaign. That’s why we have listed the 10 key metrics you should have your finger on the pulse of, period.
You will need Google Analytics set up to access this information, if you aren’t sure how to do this we can organise this for you the same day. It won’t cost you and we will be happy to help.
If you simply don’t have the time to keep on top of this, but you acknowledge its importance, have you considered partnering with an agency? See the benefits here.
1) Website Traffic
It might seem like an obvious place to start, equally, you would be amazed how many businesses don’t keep track of this. Your overall website traffic is a measurement to evaluate how popular your website is, by recording how many people land on it.
This measurement can help determine how effective your SEO (search engine optimisation) marketing strategy is. If your overall website traffic is lower than you hoped it might be that your website is not easy to find. You should, therefore, look at your website’s SEO, the quickest way to determine this is through an SEO audit. You can request a complimentary one here, that will help you get started.
2) Traffic Source
Traffic source is a very important metric to measure to ensure you know where your online users are coming from. Whether it’s from social media, paid advertising like display ads, mobile marketing such as Rich SMS, email marketing, or organic search etc. It’s so useful to know which channels are performing well and then you can focus your efforts here initially. For the channels which are bringing you the regular traffic, you can start to look at why this might be and make some changes to better adapt to this.
This can also help you with your marketing budget. If you’re spending the majority of your marketing budget on a digital strategy that isn’t bringing in much traffic, you should be re-considering where you invest your resources and focusing your efforts on what will bring a return.
3) Mobile Traffic
With the rise in technology, there has been a significant increase in the number of mobile devices being used to access the internet. If you can see that the majority of your customers access your site via mobile, you may consider focusing your efforts on a mobile website instead. You may even reconsider the type of content you put on your website, to simplify it for mobile users.
It’s always important to ensure that your website is mobile-optimised for maximum success in your digital strategy.
The benefits are:
- Your website will rank higher according to Google’s algorithm, so your website will have more visibility
- Visitors of yours that access your website on their mobile will get a better user experience
Related article: Why is it Important That Your Website is Mobile-Friendly?
4) Bounce Rate
Some visitors who arrive on your site may leave almost immediately and not engage with anything else on your site, this is known as a bounce. The reason will more than likely be that the visitors found your content/site irrelevant to what they were looking for.
You should be measuring the bounce rate for each digital marketing campaign so that you can avoid targeting people who aren’t interested in your business. If you have a considerably higher than usual bounce rate, it is a cause for concern and you should be considering what you can do to improve your digital marketing campaign(s) to get the right audience clicking.
5) Page Views Per Visit and Average Time Spent on Site
Directing traffic to your site is the first step, but once the visitors are on your site you want them to engage with your site and its content for as long as possible, follow your CTAs etc. That’s where page views per visit and average time spent on site measurements come in.
Measuring these metrics are important as it can help you identify whether your website is doing its job properly or if there are certain pages that don’t perform as well. If your site gets plenty of traffic but you have low conversions, this could be due to the quality of your site’s navigation, speed, content, or general user experience.
Related article: Why Content Marketing Isn’t Working For You
6) Return Rate of Visitors
The return rate of visitors is a great way to measure the loyalty of your visitors. By having a high percentage of return visitors, you’re obviously doing something right in your digital marketing (and vice versa for a low percentage).
The return rate can help you identify what is enticing your visitors to return so that you can increase this even more over time.
Once finding out the return rate of visitors, you should find out why they returned and whether their visit led to a conversion. If it didn’t lead to a conversion, you could consider a remarketing campaign. Remarketing campaigns are used to show ads to people who have visited your website before, to entice them back.
7) Click-Through Rate (CTR)
Your click-through rate (CTR) refers to the ratio of how many users click a specific link to the total number of users who view it. You will most commonly hear CTR mentioned regarding paid ad campaigns, although your click-through rate is an important metric in all your marketing efforts, including email, pay-per-click marketing (PPC), social media, etc.
The CTR is a very important measurement to determine how well your PPC ads are performing. The higher your CTR, the more traffic you are getting from your PPC ad campaign.
8) Conversion Rate (CVR)
A conversion rate is the percentage of visitors to your site who completed the desired objectives such as; making a purchase, membership registration, subscribing to your newsletter, submitting an enquiry etc. CVR is very important to define how well your digital strategy is performing for each digital marketing campaign you have in place.
Digital marketing campaigns with higher conversion rates are more successful because this means that more of your site’s traffic is being converted to meaningful actions that are likely to contribute to growing your business. You will want to measure conversion rates so you can see what’s working in your digital marketing campaigns in order to duplicate this success in other areas of your digital strategy.
9) Return on Investment (ROI)
Naturally, any business will want to know if the money they’re investing in digital marketing is bringing a return. However, it is important to note that although some areas of your digital marketing campaigns may not be profitable straight away, it will be a longer investment.
It is not always easy to track your return, but it is possible, you just need to know how and be willing to put in the time.
Rich SMS is a great way to bring an ROI fast, on your digital marketing efforts. Download our eBook here.
10) Cost To Acquire a Customer (CAC)
CAC is a great metric to measure your digital marketing efforts. CAC is the total marketing and advertising cost required to obtain a new customer over a period of time divided by the number of paying customers that were generated at the same time.
If it’s costing you more to acquire new customers compared to the amount of paying customers you get in the same time period, your digital marketing efforts aren’t performing well and will need to be reviewed to avoid this in future.
Ready to Measure Your Digital Marketing Efforts?
We hope this article has given you better insight into what digital marketing metrics are out there, and the benefits of using them.
If you are interested in working with a digital marketing agency, please contact us via phone or email.