Ways to Measure and Assess the Success of your Digital Marketing Campaigns
- How much money did you make?
- What was the return on investment?
- How much loyal are your customers?
You need to consider measuring the success of your digital marketing campaigns if you search for answers. Here, we look at the benefits of measuring the success of your marketing campaign.
Use Your Digital Marketing Budget Efficiently
According to experts at The Search Assembly, one of the most prominent questions marketers face is how to spend the digital marketing budget. There are plenty of marketing tools out there. It is difficult to determine which means you should invest in.
Measuring digital marketing campaigns helps know what works and what doesn't. It allows marketers to fine-tune their marketing strategies and try new marketing tools. Also, the right metrics can prevent the loss of money.
Improving Conversions
The ultimate aim of a digital marketing campaign is higher conversions. Measuring the success of the campaign allows refinement of the pre-selling system. The sales team can improve the sales script, optimize your offer, and get better sales training for your team.
Pick the Best Online Channels to Reach Your Target Audience
Digital marketing is omnichannel. However, you cannot target all marketing channels at once. With so many marketing channels to reach target customers, selecting the right ones is not easy. Like other tactics, the devil is in the details. Measuring the success of the campaign allows you to know which channels are right to reach your target audience.
Make More Effective Campaign Decisions
Success does not come easy in marketing campaigns. You need to measure the success of your tactics and improvise them for better results. Measuring the campaign allows marketers to identify poor performing tactics and discard them. The periodical review also allows us to make effective campaign decisions for improved results.
Improve ROI
According to experts at The Search Assembly, every marketer dreams of a good ROI on marketing spends. However, marketing trends change, and you need to try new tactics. Measuring the success of campaigns allows you to understand the performance of every tactic and channel. The metrics present a clear picture of the ROI on marketing spends. It will enable marketers to think out of the box and devise tactics to improve ROI.
There are hundreds of statistics, numbers, and analytical combinations that can give insight into marketing efforts. Here are the critical metrics that you should check while measuring the success of digital marketing campaigns.
Traffic Metrics
- Total Site Visits
It is a big-picture number and also the important one. Looking at the numbers, you will understand how effective the marketing campaign has been at driving traffic and differ the anonymous visits that can be derived from VPN connection and organic visits that are coming naturally from search engines. The number should steadily increase each month. If you see it drop, there is some problem with your marketing strategies.
- Traffic by Sources or Channels
Segmenting traffic by channels or sources allows which ones are underperforming and which are giving good results. You need to break the traffic into different sources like
- Organic traffic- these visitors arrive at your website through a search query
- Direct traffic- these visitors visit your website by typing URL in the browser.
- Referrals – these visitors come from links on other websites or blogs
- Social media- if your brand has a social media presence, you need to measure visitors coming from your social media platform.
- Interactions Per Visit
This is a more detailed analysis of traffic. Look at variables like how many pages the user visits, what they do on each page, how long they stay on individual pages. Don't confuse interactions with conversions. Your aim should be increasing interactions like downloads, subscriptions which will ultimately lead to conversions
- Bounce Rate
It refers to the number of people who visit your site and leave right away. In simple words, they do not perform any meaningful actions. A high bounce rate can be a result of weak landing pages, irrelevant traffic sources, and poor campaign targeting.
- Mobile Traffic
The rise of mobile dominance plays a vital role in digital marketing. It will help if you track your mobile visitor metrics to understand mobile customers and improve conversions. Some of the essential things to know are
- What percentage of traffic is mobile?
- What browsers and devices they use?
- What content they are consuming
- What are the traffic sources?
- Number of New Visitors Versus Number of Return Visitors
As an essential metric to track, it tells you how useful the content is for visitors. Monitoring the ratio of new visitors to return visitors will determine how your content is performing. If you have a higher ratio of new visitors than return visitors, you can conclude the content is performing well. If the number of repeat visitors is low, the rest of the website is not performing well.
Conversion Metrics
- Total Conversions
It is one of the critical metrics in your campaign. You can define conversions as an anonymous visitor, becoming a part of your marketing database. The visitor might download, subscribe, or make a purchase. Low conversion rates are an indicator of a problem in marketing strategies.
- Click-Through Rates
Measuring click-through rates is essential for measuring the success of your paid ad campaigns and email campaigns. For PPC campaigns, a high CTR can reduce your cost per click.
- Cost Per Conversion
It is an overall important metric as it determines profit margins. A high cost per conversion can turn the high conversion rate into negative.
Revenue Metrics
- Cost Per Acquisition
CPA is different than CPR. It tells how many marketing dollars you have to spend to attract and make the customer pay. Also, the CPA is all about revenue. It focuses on how much you spent and how many paying customers you gained with the big picture in focus.
- ROI (Projected and Real)
It is the ultimate measurement of the success of your marketing campaign that takes into account metrics like lead to close ratio, cost of acquisition per customer, revenue per customer. If the real ROI is higher than projected ROI, your digital marketing is a huge success.
Tracking these metrics will give an accurate view of how you are doing, which channels are useful, and what efforts are needed to improve.
