Do you want to know how to measure your digital marketing performance?
There are different measurements, for different marketing goals. Therefore, it’s important to have your marketing goals in mind while reading this.
To help you measure your digital marketing performance, this article will lay out the key performance indicators to focus on based on your current digital marketing goals.
How to Measure Digital Marketing Performance
1. Digital Marketing Goal: Increase Qualified Leads
- Conversion Rate. Whether you are immediately going after a sale, or simply trying to get your visitors to sign up for a mailing list, this is the number one metric to watch.
- Cost Per Acquisition/Cost Per Lead (CPA/CPL). This will tell you how much each new lead is costing you and help you decide if the investment is worth it.
- Cost Per Conversion (CPC). Let’s be honest: generating leads is not the end-goal of a business; converting them to sales is. A high CPC could be a sign you need to reevaluate your target audience and the strategies you are using to reach them.
2. Digital Marketing Goal: Generate More Traffic
- Traffic Sources. Where is the bulk of your traffic coming from? Should you be focusing more of your marketing budget there? Are there any traffic sources that are just not worth the investment?
- Click Through Rate (CTR). Your CTR is a good indicator of the efficiency of the different channels you are using to generate traffic. If the CTR is low, there might be a mismatch between your target audience and the ad/landing page you are using to attract them.
- Cost Per Click (CPC). Getting lots of traffic is great, but how much money is each click really costing you? Keep in mind that CPC does not always translate to conversions and revenue, so use this metric with caution.
3. Digital Marketing Goal: Increase Revenue
- Value per Visit. This is not a simple revenue metric. Instead, value-per-visit is tied to the specific interactions your visitors perform when they visit your site. This could be buying something from your eCommerce store (tangible value) or leaving a positive review on your site (intangible value). Finding a way to quantify value-per-visit is incredibly important as it will help you show your ROI much more accurately.
- Return on Investment (ROI). If you are a marketer, this is what your CEO will actually care about. It is the ultimate measure of your marketing success. How much of the website traffic did you manage to convert into paying customers? Were the campaign costs worth it?
How Handmade SEO Can Help
Here at Handmade SEO, we don’t just grow traffic.
We look at your goals from a business owner’s perspective to determine which marketing strategies and methods will help you generate the greatest ROI.
Want to see how?
Take our FREE Digital Marketing Assessment now.