Smart marketing means you need to make data-driven decisions that benefit your business for the long term. Having goals is important, but you won’t be able to tell whether those goals are successful without a way to measure them.
The marketing industry knows this, and that’s why marketing metrics are used.
Read on to learn some of the most important digital marketing metrics to keep track of today!
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Regardless of whether you own a brick-and-mortar business or an e-commerce business, your website serves as the face of your brand.
Even if you have a strong social media presence, your goal should still be to drive users to your website in order to convert them into customers.
For this reason, measure your website traffic consistently with the goal of increasing traffic over time.
Diversifying your lead sources is an important step for the long-term health of your business. For instance, if all of your lead sources are coming from one landing page or social media page, an outage can impact your profits for that month.
Awareness of all of your lead sources also gives you insights into what’s working better than others.
Users who click on a website and then leave before engaging or clicking on a link contribute to the bounce rate of your site. Although it’s impossible to have a bounce rate of zero percent, it’s important to strive for as low a number as possible.
Working on improving your bounce rate tells you that people are staying on your website longer.
Improving your marketing tactics through services like https://www.originbc.com.au/ is meant to benefit your bottom line. You can measure how well your marketing efforts are working by paying attention to the conversion rate.
This tells you how many people followed a call-to-action (CTA) compared to how many didn’t. Your CTA can vary widely, such as:
- Make a phone call
- Purchase a product
- Provide information
- Sign up for a newsletter
- And more
As you can see, all of those actions place the user further along in your sales pipeline. With a higher conversion rate, you can be assured that all your marketing efforts are working as predicted.
Cost Per Lead
Marketing costs money, and even if you’re acquiring new customers, you need to make sure that you’re still making a profit. Cost per lead tells you how much it costs to convert a prospect who will eventually become a paying customer.
Calculating this depends on what kind of marketing channels you’re using. For instance, you can measure the cost per lead for a landing page by keeping track of how many people give their information versus those who don’t.
You’ll know that your marketing efforts are successful if your cost per lead is less than what an average customer spends.
Innovative Marketing Through Digital Marketing Metrics
By paying attention to a few digital marketing metrics, you can be assured that you’re marking smart, data-driven decisions for your business. For instance, keeping track of website traffic can tell you whether you need to work on improving SEO.
Meanwhile, a high bounce rate can indicate something is wrong with your website.
Ready for more tips on how to run a successful business? Keep reading the blog!