How Relevant is Digital Marketing Measurement?
Posted: Oct 04, 2019
Many businesses boast of very high site rankings, with impressive footfalls. However, in many cases, this is of mere statistical importance. The real value of rankings and footfalls will accrue only when it translates into business opportunities for your organization. Vanity statistics will certainly give you a good feeling, but will not contribute to your bottom lines, rather, it will eat into your operational costs with campaigns that bring zero value to your business. Here is a look at KPIs that will help you to carry out Digital Marketing Measurement.
Are you looking at low level metrics – unique visitors to your site?
If you’ve answered yes, then you have got it wrong. Knowing the number of visitors to your site will not really indicate the effectiveness of your campaigns. These metrics are good on the surface but have little impact on your business outcomes. You need to be looking at how many visitors you have converted into clients.
A breakup of conversion rates in terms of geographies, age groups, cohorts, other preferences and the channels that brought the visitors to your site are the metrics that will give you information of real value. For instance, if the metrics revealed that people of a particular age group from a specific geographic location were converting more than others, then you can then look at other preferences of the clients to pitch additional products and services. Similarly, if you are unable to break into particular geography, it could indicate that your brand positioning, marketing, products or services need to be tweaked.
A digital marketing campaign focused on converting prospects into customers of a specific product involves costs. Working out the total number of leads that have exclusively landed on the site due to the efforts of the campaign will indicate the cost per lead. The number of conversions of leads into actual sales gives the conversion rates from the leads.
What works for one business may not necessarily work for another. This can be best understood when the right metrics are used to evaluate performance. Use the performance indicators to know what works for you, where it works and how it works to reshape your strategies.
If you want to read more about Digital Marketing KPI visit: https://clothesfashiongifts.wordpress.com/2019/05/02/digital-marketing-measurements-that-can-help-you-bring-better-results/
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