Evaluate Digital Marketing Success Effectively
How to effectively evaluate digital marketing data is critical to proving progress or failure in every endeavor a company makes in its promotions. In this case, the need to assess digital marketing performance in a continuously and rapidly changing business environment allows a company to make use of every resource allocation to its maximum potential.
If you are a company looking for great results to your online investments, this should be a top priority. Nevertheless, how do we evaluate digital marketing success? Each accessible digital marketing tool has specific measurement performance methods.
Start your campaigns right
Here are initial steps that you can take to start measuring the success of your digital marketing campaign:
Step 1. First, Identify and Set Your Business Objectives First.
Step 2. Identify and Set Targets for Each of Your Business Objectives.
Step 3. Identify Target Segments to Focus On.
Step 4. Establish Your Key Performance Indicators (KPI).
Step 5. Create a Metric Map To Evaluate Digital Marketing Efforts.
Step 6. Use A Good Analytics Platform for Web, SEO, and Social Media. In fact, having stagnant social media accounts is one digital marketing challenge that’s incredibly easy to fix.
Step 7. Lastly, Execute Real-Time Improvements Based on Measurement Results.
Website Key Performance Indicators (KPI) that You Should be Monitoring
Furthermore, check out some of the known website digital marketing KPIs that your competitors are also looking into:
- Traffic by Source: A metric that monitors where your site visitors are coming from — search engines, or ads, etc.
- Mobile Traffic: Shows how many people used mobile devices to open your website
- Page Views: The total number of pages on your site viewed.
- Most Visited Pages: Areas of your website are most valuable.
- New vs. Returning: Shows how relevant your website content is over time. This is to say, multiple visits can indicate you are offering content that people find so valuable, that they keep coming back.
- Sessions: The number of visits your website receives (30-minute increments counted by Google).
- Average Session Duration: Shows the average time spent on site.
- Exit Rate: A metric that is very specific and reveals something about your website design and user experience.
- Bounce Rate: It is the percentage of visitors who leave immediately (or bounce away) after viewing only one webpage.
- Conversion Rate: It could be an actual sale, or just a new subscriber, a completed download, a lead entry, etc. Also, this metric depends on what strategy you have executed on your campaign.
Social Media KPIs To Evaluate
As to social media, here are common KPIs to evaluate digital marketing activities:
- Social Reach: This metric tells you exactly how many people saw your content.
- Social Engagement: The total number of interactions made on any given social media post. To clarify, these can be in the form of clicks, shares, likes, retweets (Twitter), comments, etc.
- Impressions: This is important for clients who are running a branding campaign. For example, ads may be shown multiple times to the same person. Each time counts as an individual impression.
- Email Open Rate: It measures the number of people who open your email campaign as compared to the overall number of those who received it. In other words, this metric shows the following: properly segmented list, attractive subject line, appropriate send time, etc.
- Click-Through Rate: Determine your relevance score.
- (CPC) Cost Per Click: Reflect the amount you pay for each click a user performs.
- Cost Per Conversion: Tell you how much it costs to convert a site visitor into a sale.
- (CPA) Cost Per Acquisition: Helps you back into the proper amount you should spend to acquire a new one, in case of returning customers.
Map Out Your Digital Marketing Metrics Plan
Finally, there are overall metrics that you’ll need to monitor as well, including:
- Overall Website Traffic
- Total ROI (Website or Social media): Equates to how much you spent (investment) vs. how much you earned (return).
For instance, Sproutsocial created a social media metrics map for each stage of their marketing funnel with sets of objectives, strategies, and different paid, earned, and owned metrics their buyers need. How they evaluate digital marketing efforts is something we can also follow.
Never Start Without An Evaluation Plan
In conclusion, it will save you a great deal of stress down the road when you understand how to assess your digital marketing strategies’ success. Afterward, you can then correct or turn off activities that don’t give value and improve campaigns further to get your targets to hone in.
Besides, you should know how to evaluate digital marketing campaigns before you even launch them. Sure, every endeavor includes a detailed game plan for your marketing efforts, but a digital marketing strategy that has no specific plan must not be included so consider hiring a digital marketing expert in the Philippines to help you be on the right track.