Measurable metrics and other analytical data have become a vital part of the digital marketing age and are available in real time. It is also important to measure this data as it is a valid proof of success of a particular project or implementation of a specific tactic in business. The digital marketing business landscape is extremely dynamic and volatile and keeps on changing and therefore the need to measure success has become necessary too.
In fact, it is measurement that defines marketing as a science than just a theory or a superfluous concept and metrics give us the insight to overcome the unpredictability factor of marketing. If you hire a leading web development company in Mumbai, you will realize they will provide you will such metrics regularly to provide a clear picture of your marketing efforts. It is now time to familiarize yourself with the top marketing metrics that will help you to ease your life:
These metrics can be segregated into three groups:
• Traffic Metrics
• Conversion Metrics
• Revenue Metrics
These are mostly measured during the monitoring stage of Traffic Generation and are quite critical for PPC & SEO digital marketing techniques. They are:
Total Traffic to Site: Observable changes in how the traffic flows to your website is enough to give an insight into the impact a particular marketing technique has had on it. During site traffic measurement, it is important to understand the number of unique visitors your website gets on a weekly or monthly basis than focusing on the number of page views or number of hit.
Sources of Traffic: By knowing the source of your site traffic and the keywords that help them get there is a great way to understand the keywords or phrases that need to be focused upon. While search engines may be the primary source for site traffic, other traffic sources can also be utilised to get similar effect.
Mobile Traffic: As the majority of users move towards using the accessing the internet through mobile phones and other smart devices, mobile internet is surely an impactful area for digital marketing. Since it opens up various revenue sources, mobile traffic is receiving higher attention from digital marketers. This metric allows businesses to structure their content more effectively, thus providing deeper engagement.
The main goal of a digital marketing campaign should be to convert site traffic in business leads or absolute sales and the following metrics provide the necessary insights to this conversion.
Bounce Rate: The bounce rate depicts the number or percentage of visitors who leave you website before learning about it any further. If a prospective visitor checks into your website after searching for it and leaves without clicking on any of the links, the visitor is considered to have “bounced”. Every business wants its visitors to spend as much time as possible and thus lower the bounce rate, the higher the chances of conversion into a sale or sharing of information.
Cost Per Lead: Cost Per Lead (CPL) is the metric that denotes the lead conversion ratio of a specific campaign and the incurred cost, thus providing valuable insights on the profitability of a campaign. This is important since lower the costs of converting traffic into leads or customers, the more successful a digital campaign is.
Time spent on the site: If the targeted website visitor is spending more time on your website and the average time is higher, it indicates that you are engaging the visitor well. It also allows the business owner to gauge the relevance of the content on the page and whether it is enough for the prospect to trust the site and conduct a transaction.
Rate of returning visitors: The rate of visitors who return to your website can give a clear indication to the growing popularity of the website as it showcases the relevance of the content too. The return visitors also tell us if the content needs to be improved so that visitors who haven’t converted yet can be targeted too.
Revenue Metrics will provide information if a specific campaign is profitable so the necessary changes and adjustments can be made in the content so better revenue and engagement can be expected.
Return on Investment: ROI or Return on Investment can be measured by traffic that is converted in fresh paying customers. This metric is also useful in identifying the specific area of the digital marketing campaign that is responsible for sales and revenue and which areas should be improved further.
Cost for securing a customer: While ROI is measured by the number of fresh paying clients over a specific period of time, CAC (Cost for acquiring a client) by getting the total marketing and advertising costs for a time period divided by the number of fresh customers created during that period.
Each of the above-mentioned metrics are a terrific indicator of the success of your digital marketing efforts. With the help of a professional digital agency in Mumbai, it is possible to extract the maximum value from the tools and leverage a successful digital marketing campaign.