DIGITAL MARKETING KPIS
T h e E x p e r t s N e v e r I g n o r e
Technologyhasnowexpandeddigitalmarketingresources andthisvastamountofavailabilityhasboostedbusinesses tobetterimprovejustbyimplementingafewtechniques withthehelpofdigitalmarketers.Infact,digitalmarketing techniqueswitnesssuccesswhenthecampaignsareset andrunaccordingtothemetricscalledKeyPerformance Indicators.Theseemphasizedmetricsarethemeasurable valuesthatdigitalmarketingexpertscollectandanalyzeby settingspecificgoalsandmonitoringtheprogressingsteps madetoachievethem.Nowfordeterminingwhatisbest thatworksforabusinesstobetterimproveitsdigital strategies,digitalmarketersfocusonthelistoftheKPIsas discussedfurther.
THE DIGITAL MARKETING KPIS EVERY DIGITAL MARKETER FOLLOW AND TRACK
UnlessthesedigitalmarketingKPIsarerightlytracked,digitalmarketing campaignswouldnotgivetheresultsdesired.
INBOUND LINK BUILDING
Rightwhenthepotentialcustomersstartvisitingyourwebsite,thedigital marketinggoalsareachieved.Thatistosay,thecustomersbegintoconnect theirinterestinthebusiness'sproductsandservices,andbegintaking appropriateactions–thedigitalmarketingeffortsoftheexpertsstartbearing fruits.
Bymeansofinboundlinkbuilding,thenumberofinboundlinkstoweb contentfromotherrelevantwebsitesisincreased.Anexternalsource providingalinktothewebsite,makesthecustomersbelievethecontentis trustworthy,andreliableandisfeaturingalistofusefulinformation.Whenthe numberofinboundlinksisincreased,thenthewebsite'srankingonsearch enginesincreasesonsearchenginepagesbearingrelationtoalistof particularkeywords.
BETTER IMPRESSIONS ARE SERVED
Bydefinition,animpressionmeansadigitaladvertisementbeing presentedonlineforonetime.Thenumberofimpressionsisthe representationofthenumberofinstancestheadvertisementis displayingtoanaudienceofthepotentialconsumerbase.
Hence,whenthenumberofimpressionsservedistracked,thenthe digitalmarketersgainhelpfulinsightintohowmucharethe consumersawareofyourbusinessanditsproductsandservices.By usingthistechnique,digitalmarketerscanpointouttheexactnumber ofimpressionsthecompanyneedstosecureitspositionatthe forefrontofcustomers'mindsfromthebeginningtilltheendofthe completepurchasingprocess.
ONVERSION ATE
emonitorsthevisitors'percentageofawebsitewhichishow userstake,likeregisteringasamember,purchasinga cribingtoanewsletter.Toputitdifferently,ConversionRate ofvisitorsbrowsingawebsite,anditidentifiesthe haveactuallyconverted.Throughthismetric,thedigital ceivekeyinformationonthewebsite'soptimizationlevel itbeimproved.
Ahighconversionrateisdependentonfactorsworkingtogethereffectivelyfor achievingoptimalresults,whichincludethedegreeofvisitorinterest,the product'sappeal,andhoweasilytheconversionprocessisdone.Thewebsite shouldbeexposedtotheappropriateaudiencebaseintherightplacewhenthe timeishightomaximizetheconversionrate.Thevaluepropositionoftheproducts andservicesaretobeconsideredalongwithhowwellisthiscommunicatedtothe audienceandhowintuitiveisthewebsite–onthebasisofeasynavigationaswell asfastloadingspeeds.
BOUNCE RATES
BounceRatesareeventermedExitRates.Thismetricisresponsibleforthedata collectiononapercentageofvisitorswhohaveleftawebsiteimmediatelyjust afterviewingonepage.TheBounceRateisanalyzedtounderstandhowmany visitorshaveleftthewebsiteandatwhichpointtheyhavedecidedindoingso. Thisishowdigitalmarketerscananalyzehoweffectiveisthewebsitedesignand howappealingarethecontentstotheintendedaudiences.
Thegoalbouncerateshouldneverexceed40%, indicatingwhenthepercentageexceeds40%,thenthe websitehastobesubstantiallyimproved.
Ahighbouncerateisaclearindicationthepageislikelytobe unattractive,irrelevanttothechannel,unhelpfulorthetracking orcodingerrorsarebeingbarrierstoproperpageloading, therebydiscouragingthevisitorsfromvisitingyourwebsite.
COST PER CLICK
CostPerClickisthemetricthatmonitorstheaverageamountofmoneya businessisspendingforeveryclickonanadvertisementbydividingthe totalcostofthecampaignbythenumberofclicksithasachieved.
Throughthismeasurement,digitalmarketershelpbusinessestoframe appropriatebudgetsandspecialbidamountsforachievingthehighest numberofclicks,forgoingexcessivespendingonadvertisement.
Often,digitalmarketersuseCostPerClickinterchangeablywithPayPerClick(PPC),butthemeasurementsthey providearedifferent.PPCincludespaymentscomingfromvisitorclick-throughs.Ontheotherhand,CostPerClickisall aboutthecostabusinessisspendingonaper-clickbasistomarketcontractsthatarenotdependentonclick-throughs.
COST PER ACTION (CPA)
CostPerActionisthedigitalmarketingmodelfeaturingan arrangementwherein,abusinesshasagreedtoexclusivelychargean advertiseraccordingtoavisitor'sspecificactions.TheCPAmodelisall abouteachactioncorrelatingdirectlywithaspecificconversiontype, likewebsiteregistrationsorproductsales.
Thisprovidesdataformeasuringhowthevisitorsarebehaving asadirectresultofasuccessfulmarketingcampaign.Thisis howdigitalmarketingexpertscanhelpinmaximizingreturns oninvestmentinadvertisingexpenses.
Withthegoalbeingtoincreaseconversions,CPAistobetracked foroptimizingthetargetaudiences,marketingstrategies,and channels,togeneratemaximumleadsanddrivethehighest conversionrates.
REVENUE PER CHANNEL
Bymeasuringtheperformanceofeach channelbeingusedinthemarketing channel,thechannelsofferingthehighest valuecanbeidentified.Evendigital marketerscanidentifythechannelswhich arenon–performingtojustifythe investment.
Monitoringrevenuesperchannel informsthecampaignsindifferent ways.
Thismetriclevelbringsout consumertrends,whichhelps digitalmarketerstoanticipate expectationswhileallocatingthe budgetproperly.
Whenrevenueperchannelis tracked,thenmarketingstrategies canbepreciselyrefinedovertime forimprovingtheconsumer experience,generatingleadsand encouragingconversions.
RETURNS ON ADVERTISING (ROAS)
ROASisthebestKPItomeasurehoweffectivethemarketingcampaign is.Digitalmarketerscalculatetherevenueobtainedforeverydollar spendintheadvertisingbudget.ThroughROAS,digitalmarketerscan recognizesuccessfulstrategiesanddecidehowtooptimizethe strategiesinthefuture.Theformulatocalculatethefigureisdividingthe amountspentonacampaignbyitsgeneratedgrossrevenue.
EverybusinessneedsadifferentROASonthebasisofitsunique performancegoals,butformostbusinesses,theusefulbenchmarkis around4:1.
USING THE DISCUSSED KPIS, DIGITAL MARKETERS UPGRADE THEIR DIGITAL MARKETING STRATEGIES.
TheKPIsprovidealltheneededdataforinformingstrategic andoperationaldecision-making.Byproperlymonitoring theanalyticswehavetalkedabout,digitalmarketerscan distilcomplicatedinformationintoanorganizedandeasyto-interpretformat.WhentheseKPIsareemphasizedinthe digitalmarketingstrategy,thebusinessissignificantly enhancedintermsofbrandawareness,customer engagement,siteactivityandoverallsalesandrevenue.
