Pro Marketer Reveals 7 Digital Marketing KPIs That Every Marketer Should Track

Toronto, Canada, 2021-Sep-28 — /EPR Network/ — It is rightly said, what does not get measured, does not improves. This seemingly simple statement is at the heart of a majority of digital marketing success. Business owners measure their success using KPIs or key performance indicators. It is a particular type of measurement for your business performance against a particular objective. Digital marketing scores quite significantly over its conventional counterpart. One of the primary reasons for its success is also the vast potential it has to measure and track your marketing results. It eliminates the probability of guesswork and thus leads you to achieve your objectives.

However, a significant question confronts many marketers. It is finding those digital marketing KPIs that are truly important for their growth. Here is a list of seven such KPIs that, when tracked diligently, can bring about a 360-degree transformation in your marketing efforts.

Bounce rates – Bounce rate refers to the percentage of people who leave directly after viewing only a single page. A digital marketing strategy that utilizes bounce rate as a KPI should focus on enhancing the usability, user experience, and user engagement on their website. Google only likes to direct organic traffic to those websites that have a lower bounce rate. Other things like including more internal links, creating new pieces of content, updating old ones, and resolving all technical glitches will help you prevent a high bounce rate. Use the tried and trusted Google Analytics to track this KPI.

Click-through rate – It is also called CTR. In the world of digital marketing, it’s a metric that shows the frequency with which an organic search result or an email leads to a click-through to a particular landing page. It is a significant performance indicator in those cases when your audience needs to engage with your advertisement or email content. If you have a high CTR, it means your audience is rapidly progressing to the succeeding stage in their journey. You can track email marketing metrics by using apps like MailChimp. If you are a business owner and want to measure your CTR, then you can make use of Google Ads

Cost per acquisition or CPA – This metric is to be measured at the campaign for a particular marketing channel. CPA demonstrates the price of getting a sole paying customer via one specific channel. It is particularly important for you if you are a business owner who deals in subscription-based services. When you measure CPA against a customer lifetime value, you will get crucial insights on return on investment and how much profit you can make. This metric is massively employed during social media marketing, E-commerce, and organic search. Suppose you want to determine your cost per acquisition. In that case, you can do so by finding out the overall cost of a campaign and then divide it by the number of conversions the campaigns have acquired.

Conversions – It is by far the most effective digital marketing KPI that marketers use to monitor the success of their campaigns. A conversion occurs when a prospective customer purchases your service or registers for your webinar. The primary objective of any campaign is to convert the prospective audience into paying customers. This metric showcases the ultimate result of all your marketing campaigns. Conversion metric is crucial not only for E-commerce but also for PPC advertising, whereby businesses should convert traffic into customers who pay for their services. You can monitor your conversion rates using Google Analytics.

Revenue – The revenue that your digital marketing strategy generates is quite simple to calculate. Just take the value of all the sales you have made through the campaign. Every business operates with the purpose of making a profit. If you want to find whether your campaign is helping you make a profit or not, monitor the cost of your campaign and the revenue it can generate. Note all the revenue that you are able to generate through your digital marketing efforts and divide it by the cost of the campaign efforts. If you have an E-commerce site, you can find the revenue generated by turning on the E-commerce set-up functionality in Google Analytics.

Cost per opportunity – A B2B company will differentiate between prospects, leads, and opportunities in their sales and marketing funnel. Opportunity refers to a business lead that is qualified by both the sales and the marketing team. It is the type of person who has a 90 percent chance of becoming a customer. To measure this KPI, you need first to outline what constitutes a prospect or a quality lead. Use a software tool like customer relationship management to monitor the number of opportunities you can generate from particular channels. Measure this KPI by dividing the cost of marketing by the number of opportunities you are able to generate.

Social media engagement – The metrics pertaining to social media engagement comprises follows, comments, likes, and shares. It is a measure of how well your organization can make its presence felt across social media and how it influences your brand awareness. If you pay attention to this KPI, you can tailor the campaigns in a way that proves beneficial to you. Use tools like online reputation management software. It will enable you to monitor the mentions of your organization and brand. Such a tool can help you to enhance your digital strategy dramatically. Apart from that, many social media platforms also have analytics tools built in. You can measure your metrics and gauge your return on investment from social media marketing.

Constantly measuring how well your marketing campaigns are performing is essential to ensure that you are moving toward your objectives. If the task feels too much to you, consider availing the services of an SEO company Toronto.

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