Measurement is what makes marketing a science, rather than a superstition. For many business owners, marketing is an extra expense. It is something to spend money on only when the budget is flexible enough to accommodate it. This is because in many cases, the return on investment (ROI) for marketing is unpredictable. Your advertisement could be a resounding hit, flooding you with the thousands of new interested customers or on the other hand, it could be seeming wasting your time and money.
Solid metrics give you the insight to overcome this hurdle of unpredictability. So, if you are just starting out or you need to repair your existing marketing strategy then you should make sure to familiarize yourself with the following marketing metrics:
- Total visits:-
- Your main website should be a primary target for your customers and potential customers.
- But also you can measure the total visits to any location which is relevant to your strategy, such as landing page for the pay-per-click campaign.
- If you measure your total number of visits then it will give you the big picture idea of how to investigate one of your marketing channels to figure out why.
- Thus, in a healthy steady campaign, you should expect your total number of visits to grow steadily.
- New sessions:-
- There is a metric found in Google Analytics, the total number of new sessions will tell you how many of your site visitors are new and how many are recurring.
- It is a good metric to understand because it tells you whether your website is sticky enough to encourage repeat customers as well as how effective your outreach efforts are.
- Suppose if you change the structure or the content of your website significantly, and your ratio of recurring visitors to new visitors drop, then it might be an indication that your website is losing effectiveness in warranting the multiple visits.
- Bounce rate:-
- The bounce rate shows you what percentage of visitors has left your website before they further explore your website.
- If a potential visitor finds your homepage after searching for you and leaves the page before clicking on any other links then they will be considered as bounced.
- Generally, your bounce rate should be as low as possible because the more time someone spends on your website, the more likely they are to convert and perform the meaningful action.
- Also, a high bounce rate is not necessarily a bad thing.
- Total conversions:-
- Total conversions are one of the most important metrics for measuring the profitability of your overall digital marketing efforts.
- While it is possible to define a conversion in many ways such as filling out a lead form, completing checkout on an e-commerce website and much more. So, conversions are always being a quantifiable victory in the eyes of the marketer.
- You can also measure the conversion of your website directly, depending on how it is being built, or also you can set up a goal in Google Analytics to track down your progress.
- However, low conversion numbers could be the result of bad design, poor offerings or otherwise the disinterested visitors.
Thus, above are some of the essential which will definitely help you to measure your digital marketing performance, if it is done in a right and appropriate manner.