You Cannot Ignore These 8 Key Performance Indicators in Digital Marketing

You Cannot Ignore These 8 Key Performance Indicators in Digital Marketing

The advent of the digital age has made it feasible to track almost every piece of information that your consumers generate along the path to purchase, and it can be tempting to evaluate all of this information. Having said that, sorting through this mountain of data is a difficult and time-consuming operation. When the number of potential key performance indicators (KPIs) expands in tandem with your company, it is increasingly necessary to zero in on the signs of your performance that are the most pertinent to your organisation. The following is a list of eight key performance indicators (KPIs) that astute communicators and digital marketing service provider should pay attention to:

1. Website traffic

Measuring the amount of traffic that comes to your website will help you determine whether or not it fulfils its primary function of acting as an advocate for your business around the clock, 24 hours a day, seven days a week. Examining the patterns in the monthly traffic volume to your website might help you evaluate how successful your marketing efforts as a whole are. The next step is to zero in on significant details, such as the number of “visitors per page,” “visitors per product category,” or “visitors by pricing,” in order to locate areas in which there is room for development.

2. Inbound link building

Building inbound links is an important component of result oriented search engine optimization (SEO) since it directs traffic from other websites to your own. Utilise tools on a regular basis to ascertain the current quantity of inbound links that are there, and run campaigns that are above board to enhance those numbers. By working to increase the amount of inbound links to your website as well as the quality of those connections, you can do more than just bring users back to your domain; you can also raise the authority of your site in the process.

3. Visits per channel

Your main objective for your inbound link building activities, social media outreach, and pay-per-click (PPC) operations should be to increase consumer traffic to your website. Because of this, the number of inbound visits generated by each channel is a crucial key performance indicator. You need to know the source of your traffic in order to identify which of your initiatives are the most successful and worthy of additional investment, as well as which of your campaigns could benefit from greater attention. Track the traffic that comes to your website from various sources, including organic search and referral links (which make up the majority of link building campaigns), social media, email, paid search, display advertisements, and more.

4. Average time on page

Increasing the number of visitors to your website is not, on its own, sufficient. You also need to find ways to keep visitors on your site for long enough for them to travel to the pages that are most important to you and eventually take the actions you want them to. If the majority of your users only stay on your page for a relatively short period of time, Google may conclude that your page does not provide the information or services that its users anticipate, and it may lower your page’s rank as a result. Invest some time in doing an analysis of this key performance indicator (KPI) for your homepage as well as your blog posts, product categories, and any other landing pages.

5. Conversion rate

The conversion rate is one of the most important key performance indicators (KPIs) of any sales-based digital marketing strategy. To calculate the conversion rate, divide the total number of conversions by the total number of visitors to your website. Even if high page traffic can provide the impression that your campaign is successful, the fact that your website has a great number of visitors is not really useful if just a small percentage of those visitors end up becoming paying clients. The calculation of conversion rate can assist you in concentrating on the audience that is most likely to convert and targeting additional users who are similar to those who have already converted.

6. Cost per action (CPA)

You may establish the total cost of getting a consumer to execute a predetermined action, such as completing a sale, clicking on an email link, enrolling for a newsletter, and a variety of other actions, with the help of cost per action. To put it another way, your CPA is the average amount of money that you are charged in order to obtain each conversion that is caused by an advertisement.

If getting conversions is one of the most important goals for your company, then routinely tracking your CPA will assist you in concentrating your efforts on the strategies and channels that are most likely to provide you a good return on your marketing investment. The tracking of CPA can assist in determining the amount of money you are ready to invest in order to attract high-quality users who are likely to convert into paying customers.

7. Cost per lead 

The cost of acquiring a new prospective customer is the primary emphasis of this key performance indicator (KPI). As soon as you know how much you are spending on each lead, you will be able to decide whether or not this spending plan is in line with the actions that your new contact will eventually take. After that, you will need to determine whether or not the time and resources that were invested in acquiring the lead were beneficial.

8. Return on ad spend (ROAS) 

ROAS is the key performance indicator (KPI) that has the ability to tell you the most about the overall efficacy of your digital marketing campaign because it is a measurement of the amount of revenue gained for each dollar spent on digital marketing. To put it another way, if you are not meeting the sales targets that you established for your marketing campaign, something needs to be adjusted.

Monitoring the other key performance indicators (KPIs) stated above will assist you in determining where your attention and marketing resources are best spent.

Although some of the most relevant KPIs for your brand can and will change over time as your brand and goals evolve, the following eight are essential to the majority of digital marketing efforts and are almost always helpful in mapping out your success.

Leave a Reply

Your email address will not be published. Required fields are marked *