5 Important Metrics for Measuring Digital Marketing Campaign Success
Understanding data is essential for successful marketing and these 5 metrics are important when measuring the success of your digital marketing campaign.
Are you craving ore organic traffic to your website?
What about improving the conversion rate?
How about a broader reach on social media?
Or, a higher email click-through rate?
These are all important goals and metrics for a digital marketing campaign, and in this article we’re going to expand on these points to break out 5 essential metrics for measuring the success of your digital marketing campaigns.
Because you simply can’t afford to play the guessing game when it comes to measuring your digital marketing campaign’s effectiveness.
No matter how intuitive you claim to be or how many times you chant, “I am making progress,” if the results aren’t producing ROI, trust me, you have got some serious problems.
So are you marketing without measuring?
Do you really think that if you run a digital campaign…
Voila, A promising number of leads will show up in your inbox.
That’s just day-dreaming. You simply can’t run a successful online business without a successful digital marketing campaign.
Anyone can set up their business’ website or run an ad on their Facebook page.
The real trick is understanding how beneficial it’s proving to be for the business.
This is where most people stumble. There are so many metrics and such a volume of data that deciphering which data is proving the campaign viability can be a real undertaking.
The key is to be able to see the shortcomings in your strategy and work on improving them.
To that end, we’re going to look at the best way to go about measuring your digital marketing campaign’s success?
Your neurons will agree, after reading the world traffic, the two things, playing a jig-saw puzzle in your mind are “leads and sales.”
Call your “web traffic,” the base of your entire digital marketing campaign because, ultimately, the leads and sales are generated from the people who visit your page.
If a certain campaign is resulting in very few visits or none at all, chances are there’s something wrong with it. Here you have to do three things before disowning it.
- Do the digital post-mortem of your strategy
- Analyze the loopholes in your strategy
- Alter your strategy and come up with a spellbinding one
Or if there’s a campaign that’s bringing in a lot of traffic, then you can:
- Use that information to see what’s working for your business
- Apply it to your other areas of the campaign, as well.
Bonus tip: Consider taking help of link building techniques to increase traffic and revenues.
Talk about traffic, it has several layers, waiting for you to discover. There are so many things to consider in traffic, like:
- Which source is most of your traffic coming from?
- Are they coming from search queries, or direct visitors, or are they referred to your site from other pages?
- How much of it is mobile traffic?
Answering and analyzing all these questions will help you understand which elements of your campaign are proving to be most effective.
If you’re running ads for targeted traffic, you’ll have to observe your Click through Rate (CTR) to see how effective your campaign is in getting people to click on your ads.
High CTRs also result in lower Pay-per-click (PPC) costs. Consider Blenders Eyewear, who were able to double their CTR and reduce their PPC by 40% through a cleverly designed marketing strategy.
2. Average time spent
Your audience yawns will haunt you if the boredom hijacks them! I seriously mean it.
If you are getting a lot of traffic, but most of them are only spending five to ten seconds on your page before bouncing off, then your digital marketing campaign isn’t as successful as the traffic numbers might indicate.
This does say that “It’s not the game of traffic numbers only.”
The more time people spend on your page, means the more engaging your campaigns are turning out to be.
It’s your time to discover the secret behind these layers. Enlighten yourself regarding- what kind of content is more relevant or of interest to your target audience, and you can design future campaigns accordingly.
Moreover, you can add videos as it is one of the most effective, interactive, and engaging forms of content. Adding them to your pages can increase user engagement and consequently, the time users spend on your website.
According to research, 85% of consumers are more likely to make a purchase after watching a video about the product.
In many cases, longer visits don’t necessarily guarantee sales, but generally, people who are spending more time show more commitment and have higher chances of converting.
If your current campaigns are in the spell of yawns, this means that your content is not of any value to visitors.
Bonus tip: Improve your content strategy; you will experience an increase in engagement levels.
Conversion had, has, and will have an ongoing digital affair with revenue.
Conversion rates determine how much of your traffic is converted into leads or sales. In case you haven’t noticed, the metrics mentioned here need to be used in tandem to judge:
- The health of your digital marketing campaign
- To find the possible problems
- To decide how they can be solved.
Accordingly, conversion rates are an excellent way to measure if your digital marketing campaigns are engaging and convincing enough to generate sales, especially if you’re running an e-commerce business.
For example, Wayfair has designed their digital marketing strategy in a way to make the experience smooth and seamless for the customers. This lets them find precisely what they are looking for and so they are more willing to make a purchase.
Another aspect of conversion is the bounce rate. Out of all the traffic you get on your site, not everyone is converted into leads. Many visits but “bounce” or leave your page right after.
Ask marketers, and they will tell you, high bounce rates offer them misery. Needless to say, it is considered as a digital curse for your campaign.
Your bounce rate indicates that visitors are not enjoying your content, your traffic may be coming from the wrong sources, or that you have a poorly designed landing page.
Bonus tip: Do some detective work – Thoroughly analyze the page that has a higher bounce rate. Find out where the problem lies, look for the possible solution, and implement it.
4. Social Media Marketing results
Millennial need some digital breaths in the hustle and bustle of life.
Didn’t understand? You will see in a while.
It seems like Millenials have taken a pledge not to leave the social media ever again. This does say a lot.
If you are not getting the desired results on social media, don’t say that it is of no use for you. It is you who doesn’t know how to use it.
Social media marketing is one of the most critical aspects of the digital marketing strategy. According to lyfemarketing, social media takes up 33% of the time that average internet user spends online.
A couple of things will help you in determining the success of your current campaign. Moreover, it will help you in modifying your strategy
- Firstly look into the Engagement rate and determine the type of content you should work on based on how it performs across different social media platforms. This indicates how responsive your audience is to your content.
- Secondly, keep track of your number of followers. (Note: Measuring these numbers is essential to scale your business.)
- Take note of details such as their origin, the kind of content they engage with, the time at which they are most active, etc.
Bonus tip: With the things mentioned above, keep track of your social media mentions. This includes reviews, customer feedback, and any post referring to you. Moreover, factors like post reach and likes/dislikes also play a crucial role in determining success.
Take a look at the sample below from Sprout Social. It shows five distinct social media metrics and a detailed plan for how the company intends to achieve them.
5. Return on Investment
You implemented a magnificent game plan, sounds perfect!
A couple of questions for you:
- Do you feel that your plan has helped re-igniting the long lost sales opportunities?
- Do you think your plan has converted cold leads into warm leads?
- What about the promising ROI?
At the end of the day, every business wants profits. So, the best way to judge the success of your digital marketing campaign is to see how well it is generating revenues through your return on investment (ROI).
Bonus tip: Work on your cold leads, retain your current leads and enjoy the promising ROI.
This shows if all that money that you’re investing in digital marketing is churning out more profits or not. If it is, then that means your campaign is successful. Moreover, you can identify which campaigns are most effective and are generating the most sales and which need more attention.
As discussed above, social media networks help you to generate ROI for your business. According to Alexa, Facebook is responsible for 8% of all page views on the internet. This is followed by LinkedIn and Twitter, which are responsible for about 1% of all page views. This means that you’re likely to get a higher ROI on Facebook than other social media channels.
Peel, a phone case retailer, was able to increase its ROI three times by running a successful Facebook video ads campaign.
Your digital marketing campaign is your digital seed. Sowing it and expecting the perfect outcome, without putting in work, represents that you live in la-la land.
Remember that your campaign would still fail:
- If you don’t continuously watch its performance and success because consumer tastes and preferences are changing rapidly.
- If you favor gut-driven decisions.
What might be exciting today could become boring tomorrow and drive away your visitors. So, it is vital to evaluate your campaign’s success continually.
Each of these metrics is important to consider when measuring the effectiveness of your campaigns. When you use all of them together, you can quickly find out what’s working and what’s not, and then incorporate all that information in your future campaigns and strategies.
As a rule, you should always set a goal for your digital marketing campaign before launching and decide how you’ll measure your progress. This will help you come up with the right strategies for the best execution, and you’ll see better results.