Measuring digital marketing effectiveness is a valuable aspect of ensuring you’re utilizing productive digital marketing strategies.
Measuring the effectiveness of your digital marketing strategy will help your company be able to analyze and a clear picture of that strategy. This means you will be able to determine how much resources you’ve put in and how much you’ve been able to achieve so far. And so, to measure how effective a digital marketing strategy is you will need to create a comprehensive marketing plan based on that specific strategy. After setting up a marketing plan you will need to set and track several key metrics that we will share with you in this article
How To Measure the Success of Digital Marketing Effectiveness
Whether you’re a small or large business there are several ways you can measure the effectiveness of your digital marketing strategies. To help with that here are five steps you need to get optimal results:
1. Set your business objectives
To have an optimal digital marketing strategy, you will need to create a clear and comprehensive objective for your business. Ensure that everyone in your organization is involved in order to make the most of the campaign.
So, what are your objectives? Is it gaining more leads, making more sales, or enhancing your brand awareness? Make it clear.
2. Set your goals and targets.
When setting your goals and targets, ensure that all the required research is available. This allows you to set goals that rea realistic achievable and more importantly time-bound. And so, you should take into consideration all activities, manpower, and resources needed and available before setting these goals.
3. Define your target audience.
Who are your target audience? Remember, if you exactly who you’re targeting, then you will know the exact way to customize the ad campaign to suit them. In addition, you will be able to determine which social media platforms to use. For example, if your target is CEOs, or top employees holding good positions within a specific organization, you will rather use LinkedIn as your primary platform and avoid platforms like TikTok.
Knowing your audience helps you filter out chaos and create a well-optimized digital marketing campaign.
4. Create KPIs before initiating the campaign.
Now that you have a well-structured campaign with realistic goals and objectives, how will you track and determine the digital marketing effectiveness of that campaign?
Well, it’s simple, create key performance indicators such as:
- Site traffic
- Outbound clicks
- Inbound clicks for your site
- CTR
- Bounces rates, and
- Conversions.
You can also incorporate other indicators such as search engine rankings and unique visitors to add to the effectiveness of that campaign.
5. Measure your digital marketing effectiveness.
Now that you have defined the key performance indicators to keep track of, how do you actually measure them?
Well, to track these indicators you can choose a platform such as Adobe Marketing Cloud, Google Analytics, or HubSpot to do so.
But now the question is, what are the key metrics every business should track? Let’s have a look!
Key Metrics Every Business Should Track
To determine the digital marketing effectiveness, you will need to collect and measure several key performance indicators we’ve mentioned above. KPIs are very useful in telling you how effective your digital marketing strategy is. And so, KPI data you can not only see the performance but also determine what or where to optimize in order to improve your results.
So, let’s have a look at each of these key metrics:
1) Traffic To your Website
How many visitors are you getting? How much organic traffic is your business getting?
Not, you need to keep note of these two questions, you can source more traffic via social pages through an ad campaign, but to really know if that campaign has impacted your business positively, then take a look at organic traffic.
If your website’s search engine traffic has increased, then it shows a positive impact.
2) Page views
When analyzing traffic, you’re trying to know how many unique visitors have visited your account. However, when it comes it comes to page views, you’re simply trying to note the number of pages your visitors clicked while on your platform.
So, you need to have a higher number of page views than unique visitors nice that boosts your ranking and performance in general. Higher page views also show that the visitors are finding your content more intriguing thus spending more time on your site viewing different pages and content.
3) Bounce Rate
Bounce rate is another valuable metric that tells you how effective your landing page or content on your site is. This is because the bounce rate shows the number of people who come to your account and leave after just viewing that page.
So, what’s a good bounce rate?
Well, having a bounce rate of less than 40% is good. To improve this you need to offer incentives with each page your visitor visits. For example, if it is an article, ensure you’ve included several internal links to other relevant content to keep them on site. If it’s a product or landing page, add things like offers, i.e., ‘Check Out Our NEW Upgraded XYZ’. Such a simple trick can improve your bounce rate and may end up converting a visitor into a follower or a client.
4) Conversion Rate
Finally, the top key metric to keep is a note of, more so, if you are selling products, and services or creating an email list for your sales funnel.
So, check how many users take that action you intend them to do – whether it is sharing your post, clicking outbound links, purchasing or just signing up for your email list.
So, keep this metric as your main focus, but to be able to utilize it in the tea, you will need to improve the other three metrics since they add up to this one.
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