Top 8 Ways to Measure Digital Marketing Success
Let’s cut to the chase, shall we?
The first step to assessing your eCommerce business success is identifying the digital marketing metrics you want to use to measure that success in the first place.
Some of the most used digital marketing metrics include web traffic, click-through rates, and conversion rates. You can also use internal company data to measure the success of your digital marketing efforts.
This article will discuss the primary methods of measuring the success of your digital marketing campaigns. Know where your money is best spent and will grow.
8 Best Ways to Measure Digital Marketing Success
There are several proven measures and authentic ways to measure digital marketing success. We will be discussing eight of the best standards.
Focus On Your Digital Marketing KPIs
First, decide your goals and objectives. Doing so helps you figure out what key performance indicators you'll need to track the success of your marketing campaign.
There would be little to no comprehension of your success rate if you didn't use digital marketing KPIs. You'd risk losing focus on what matters most to your company and what particular tactics will help your business grow the most.
Use Google Data Studio
Google Analytics will provide you with CTR, reach, and traffic metrics. In comparison, Google Data Studio offers a rapid overview of relevant data. By connecting your data sources to Google Data Studio, the accumulated data will determine the most critical metrics for your marketing activities.
Keeping track of data is essential, and with Google Data Studio, you can get real-time numbers for your metrics. This will help you change your campaigns to optimize and tweak them as soon as you see an issue.
Monitor your campaign traffic
You should assess data on your site visitors with the assistance of an analytic tool. We suggest monitoring visits generated with the aid of:
- calculating organic, natural searches
- Direct internet site visits
- Referrals
- Social media visitors
Each type of visitor and their behavior on your site indicates which of your campaigns and virtual advertising efforts are working effectively and which ones aren’t. It also draws attention to your assets and where to optimize them.
Consider how your target market engages with your brand on social media platforms. Engagement should be in the form of post likes, shares, comments, and tags.
Your marketing works well if your visitors spend time commenting on posts, sharing, or retweeting.
Look for an increase in qualified leads
Without conversions, no business can survive. So let's learn the best ways we can climb the ladder of success in digital marketing.
Conversions
Conversions are the most apparent digital marketing KPIs (key performance indicators). But they have varied meanings for different brands.
Depending on your marketing goals, a conversion might mean:
- Getting a new subscriber to your newsletter
- Obtaining new social media followers
- Generating leads
- Closing a deal
Basically, whatever your marketing campaign sets out to achieve, if it achieves it, that’s a conversion.
Lead Generation
A good lead brings you closer to prospective customers. It’s good to regularly evaluate whether your site (and other marketing sources) draws good leads.
Refining processes to get data from site visitors to add to your leads database helps immensely with this particular tactic for measuring digital marketing success.
Sales
Your marketing campaigns should bring in deals and get people to buy, and you should have accurate information on what works to draw revenue.
Build brand awareness
Without building awareness around your brand and offerings, any new initiative towards breaking into a new market or releasing a new product might onlyproduce lukewarm success.
Impressions
You'll need an advertising channel to reach a new audience (such as Google Ads or Facebook Ads). The number of times your target viewers saw your adverts is measured in impressions.
Keep in mind that it’s not always about the number of views.
Yes, many ad platforms will tell you more is good, but you also need to know how much of your target audience you've reached.
Impression Share reveals how successfully your ads have reached their intended demographic.
Click-through rate
Your click-through rate is the ratio of clicks your ads acquire relative to the total number of impressions. Your advertising should reach individuals who aren't familiar with your company or the things you're selling and establish a baseline.
Time-bound awareness campaigns will draw in people and bring visibility and awareness to your campaign. The next step is to tweak your messaging to get new interactions with your advertisements and brand.
New Session
Monitoring new sessions might be helpful but not very accurate. People may log into your site on a laptop or desktop and later revisit from another device, like a smartphone.
Google Analytics treats them as two unique, separate users and designates each as a new session. Similarly, if someone clears their cookies from their browser, they’ll be considered a new session the next time they visit your site.
Improve user experience
Tracking and improving the user experience is critical for digital marketing success. Let's see what you must quantify to evaluate user experience.
Visits or sessions
Visits or sessions are simple methods to assess your marketing performance. You may zero in on popular competitor sites and determine the average time users spend on them to gain insight into what needs improving.
Ultimately, understanding how your audience interacts with your website can help you make better marketing decisions in the future.
Bounce rates
Bounce rates reveal whether there is a misalignment between your marketing and landing page. Measuring bounce rate is essential in terms of SEO as it helps in ranking your site faster than usual and can help you get better organic search results on search engines.
Optimized landing pages generate 220 percent more leads than standard pages. Therefore if users abandon your website straight after clicking a link, your landing page must be addressed immediately.
Exit rates
Exit rates are different from bounce rates in that they’re concerned with how long a visitor stays on pages and from what site location they leave.
Use this data to rethink the design and content of your website. You should delete material that isn't engaging visitors and copy the structure and appearance of sites with good numbers of this KPI.
Effectively target your audience
If you're advertising a new product on Facebook, email, trade publication websites, and display ads, keep your data easily accessible.
Create and apply tags to links in different adverts throughout your channels. This allows for visibility into the efficacy of each channel. Use Google Analytics Campaign Tagging to get even more information about any advertising campaign.
This excellent tool allows you to enter the parameters of your campaign and generates a unique URL for each channel. This will enable you to aggregate these links under a single Campaign Name while defining their Campaign Source dependent on where you're advertising. Then you may look at the data unique to those advertisements in Google Analytics' Campaign reports.
Use marketing techniques
To effectively monitor the efficacy of your marketing activities, invest in a system that allows you to compare and analyze them.
Popular programs like Google Analytics and Facebook Ad Manager are undoubtedly recognizable. Many other solutions are readily available to track your efforts and provide information on your leads and consumers.
Since there are several alternatives for capturing and analyzing campaign data, the fact is that no single tool can suit all of your needs.
You’ll need to experiment with several applications and choose the best one based on your organizational requirements. We highly recommend using more than one tool to get a better overall picture of your growth.
Key takeaways
While there are plenty of measures at your disposal, focusing on the best ones for your brand and eCommerce goals makes all the difference.
Make sure the data you're looking at is aligned with your marketing goals, then compare it to your previous performance to determine success. Your site may not follow the so-called industry standards but that doesn't necessarily mean that what you're doing isn't practical.
Measuring your digital marketing strategies success is vital. It makes you see what methods are working and which aren’t. Tracking your campaign KPIs helps you alter them and find the right approach for your business.
The right steps will only lead you to faster success. Get in touch with us to learn more about the best digital marketing techniques for generating recurring revenue for your business.