The Most Important Digital Marketing KPIs Your Business Needs to Pay Attention To
Being aware of the performance of each item in your business is important. The thing is, you spend a lot of time and resources bringing in new clients to the business, and it will not make sense, not knowing whether your efforts succeed. In this internet age, digital marketing keeps gaining popularity each day. To know how your digital marketing, your branding, and other lead generating efforts perform, there is a need to pay attention to a particular set of digital marketing KPIs. Additionally, the data may be important on your business intelligence tools to allow you to arrive at better marketing options for your business. However, it does not make any sense to pay attention to those indicators if you do not have a goal.
A Digital Marketing Goal
Your goals need to be not only objective but attainable as well. The reason is that you cannot know whether a digital marketing effort is effective until you know for sure what you wanted to achieve with it. Moreover, when you have a goal, then you can come up with a strategy that makes it possible for you to achieve it. Furthermore, KPIs mean not just that you are making progress or that your efforts are working, they point you to what precisely what your business undergoes. Therefore, you need to set goals that resonate with your KPIs. So how do you do it?
- You start with a timeline: you need to keep yourself on toes, and only putting yourself on clock can do that for you. Your time frame needs to be concrete, such that it gives you some sort of urgency. A time frame could be split into sections that allow you to track monthly to yearly progress.
- You need to define some success factors: there is nothing referred to as a general goal when it comes to knowing the state of anything in your business. You need to be specific on the amount of success you want. A success factor, therefore, needs to be something quantifiable, majorly in numerical form. An example could be to attain 100,000 views on your Pinterest, get 10,000 clicks, and 100 product purchases. You could easily use the patterns of these figures to arrive at better goals keeping in mind the timeline. Once it is specific to you about what you need, you then need a dashboard to measure your marketing.
- A marketing measuring dashboard: The dashboard encapsulates some of the key performance indicators you need to pay attention to. This should be easy because you will have already defined KPIs from the same goals you set.
Now that you know that goals are important in setting up your KPI, it is time to focus on the main digital marketing metrics. You may want to start with your website.
Any business engaged in digital marketing definitely has a website. It could be the company website or a platform where people go to buy a product when they see an advert and feel the product is good for them. Usually, you need something like Google Analytics added to your website so you can track important website-related digital marketing metrics.
1. Website Traffic
Every company that wishes to know how successful their business website it always pats attention to its web traffic. A website plays the role of the face of the company on the Internet. To some, a safe space to visit when wary about several issues concerning a company. Your efforts to market your business will pay attention to driving traffic to it. You might want to do things such as improving your social media outreach, your email list, or traffic, but all of it needs to be geared towards boosting your web traffic.
What this means is that you will have to put a lot of attention to measuring your web traffic parameters. You need to be aware of whether any of your digital marketing efforts are doing anything good for your business.
A common issue you may find as you measure your web traffic is a slight decrease in traffic as you implement particular marketing campaigns. The solution is to troubleshoot the site to repair issues that are blocking visits such as broken links or penalties by Google.
You could keep the traffic steadily rising by optimizing your content with good keywords, by being consistent in publishing content on the website, by promoting content on social media and using targeted advertising with the help of landing pages.
2. Traffic by Source
You need to know exactly where all your traffic comes from. There are not so many platforms of digital marketing to pay attention to; therefore, a lot of focus on this single metric could help. Paying attention to this metric tells you the source that works best for your website. What follows is that you can now fully pay attention to that traffic source as you work on improving the less impressive ones.
Noteworthy, sources of traffic mainly existent include social, referrals, direct, and organic visits. Social visits are typically a result of a social media profile online or content posts you shared. For referrals, these are visits hugely a result of being sent to your website through links available on other websites. Direct visits are the dream of any digital marketing team. What happens here is that the visitor searched your website directly on the search bar on a search engine. Another user may have just bookmarked it and came back to visit it later. Lastly, we have organic visits. Here, the user clicked your website from the list of searches.
3. New Versus Return Visitors
As you do your content each day, you need to know whether you are relevant. Relevance, in other words, could mean that you offer value to some people online. So how do you do this? By knowing the number of new visitors and comparing it to the number of returning ones. If the returns to your website increase, then know that your content is valuable to that particular audience. The best way to get the most out of this metric is to measure it every time you publish new content. Knowing how valuable each piece of content means that you get to focus more on such kinds of content. Further, this could build you a massive loyal following. You may ask yourself how one gets new and return visits. The answer is as simple as:
- Creating content easily found organically on search
- Promoting your posts using Twitter alongside some important hashtags
- Do email blasts to subscribers every time you publish new content
Besides paying attention to the people that visit your website, it is important to know how many visits you get. You may wonder how the two metrics differ. The difference is that Google will every half an hour count individual users that visited the page. A simple way to explain is to use a case of an e-commerce website. Foremost, a user will visit the page and check for a particular product. Later in the day, they may come back and add the product to the cart. These two have been carried at different times of the day and therefore counted as two sessions.
5. Session Duration (Average)
A session can be as short as a second or two. This session period is not a good mark, especially when the user sought something hugely related to what your site offers. The good news is that average session durations differ depending on the function of the site. Moreover, the average session time can shorten from the nature and relevance of marketing campaigns.
It matters a lot, knowing the amount of time people spend on your site. One reason is that it enlightens you of your site's user experience. Several questions may come to your mind in the process, such as whether it is easy to navigate the site. Or are users getting what they need on the site? Furthermore, whether the content is valuable such that people do not care about its length. The question in mind right now be how to keep people on your site.
The solutions to this include adding videos to the content, using the bucket brigade to keep the readers reading the content, and improving content readability. Content readability can be increased through bigger fonts and a lot of white space.
6. Page Views
As you focus on a general increase in the number of visits, you may want to pay attention to how many pages get viewed by your visitors. This metric becomes live when a particular visitor keeps visiting the same page over and over. You will find this metric amongst the most crucial. Think of it as a movie that you never stop repeating even after watching it multiple other times. The best way to check this metric is to make sure you do it at specified periods. The comparison, in the end, could easily tell you how relevant your page is to your targeted audience.
7. Most Visited Pages
You need to establish some value in the places that have the most value on your website. Google Analytics makes it easy for you to get insights into this page. You can find values to this metric on the Behaviors tab. What these metrics try to tell is exactly where on your website people like to visit. The metric also tells you the amount of time spent on those specific regions on your site. If you need more information on this metric, pay attention to the Behavior Flow tab also on Google Analytics, check out the Behavior Flow.
8. Exit Rate
This is one of the clearest metrics about your site. The Exit Rate gives a deep dive into the design of your site and site experience people get from it. You may also want to know exactly where the reader left the website as they went through your content. This metric is more important than the Bounce Rate, which only focuses on when someone viewed a single page. The Exit Rate, on the other side, tells you where the reader’s interest disappeared after some time of exploring the page.
9. Bounce Rate
There is more to talk about the Bounce Rate because it also matters a lot. The bounce rate comes in percentage form and will tell you the people who left your site on viewing one page. The reasons for leaving are usually many. The first one is that your site loads slowly. Another reader may fail to find exactly what they need. The other might have opened the content, but it did not seem exciting enough to go further. Lastly, there could have been an error when loading the page.
The Bounce Rate metric is only important when you want to know the effectiveness of a marketing campaign. However, if the purpose of your website is to send people to a particular page for conversion, then you may be looking at a click-through rate. The reason is that if the purpose of the page is to refer you to other pages, then the bouncing rate will be through the roof. If this is not your intention, then ensure that wherever you are sending your visitor, the page is precisely where you want them. You can reduce the bounce rates of your page by improving the loading speed of your pages, adding internal links to content on the website. You could also add some multimedia to your content and use more convincing call-to-action.
10. Conversion Rate
This metric is usually what makes for the end game of any business that carries out a powerful digital marketing campaign. On the Google Dashboard , you can easily find the number of conversions. Conversions are not just usually sales. It could be a subscription, a download, and the entry of a lead, among other things.
Most people interested in the number will pay attention to this metric to know whether the campaign was effective. However, this is not always enough. There is more that needs attention. What this means is that there is a lot more to consider for a more successful digital marketing strategy. The nine other metrics above still matter in the success of your website even when you know the conversion rate. You may also want to work on improving your social media, advertising, and email game.
Above, we talked about the end game, not being just about sales. Sometimes the plan to be more visible to people. Therefore, the focus here is branding. Anyone in branding will always want to improve the number of impressions.
An impression is simply the amount of attention, in other words, views content receives. One thing you need to know about impressions is that the content could be viewed by the same person multiple times. Each time sums up to an impression. If you are to compare impressions with reach, reaches will be lesser because each reach is equivalent to a single user.
12. Social Reach
By now, you know that the reach differs from the impressions. Your goal as a digital marketer is to make sure that every post you share on social media reaches a larger audience. One thing about this metric is that it will tell you the number of people that actually saw your content. Conversely, the reach will always be a bigger number than the number of people engaged. A simple way of expressing it is when you want to get just a 3% engagement of the overall reach. You can improve your reach by correctly branding your profiles on social media. Moreover, through publishing more original and custom content regularly. Furthermore, by engaging with your community.
13. Social Engagement
This feature can easily make any marketer happy. Social engagement simply means that your impressions resulted in people interact with the content of the posts more actively. One way is through clicks. The other is through shares, retweets, comments, and likes. Your Twitter Analytics feature should be able to show you this figure. An impressive engagement rate is a reflection of your social media success.
The reason is that whereas you can pay for the other metrics above, social engagement cannot be faked. The only thing that triggers this metric is when the user intentionally chooses to interact with the content. This metric is one way you could rank your content. You can pay for all the others, but engagement is only earned when a user chooses to interact with your content. The thing is that by paying attention to this metric, you create better content in the future.
14. Email Open Rate
Building an email list should be one of the major priorities of any business website. People do not just need to read content on your website. They also need to access it on email in simple yet broken bits. The open rate compares the number of people that open your emails to the total number of people that received the email. A higher open rate shows that you have impressive subject lines, outstanding sending schedules, and a high-value email list. A low open rate indicates that there are issues with most of the above.
15. Click-Through Rate
Also referred to as CTR is a useful email marketing or a paid advertising metric. If you can trigger clicks for your email blasts, then you are doing great in your digital marketing campaigns. Click through are related to your pay per click and can help define your relevance score. Moreover, it has an impact on your cost per click figures.
16. Cost Per Click
This parameter is common in pay per click types of marketing and very relevant in social media pages offering adverts in the form of click to the site. Cost per click tells you how much you pay for every click performed by a user. You will find this KPI important when arriving at a marketing budget for your digital marketing campaigns.
17. Cost Per Conversion
A click is quite different from conversion. This parameter is usually dependent on your business model and sometimes to a specific marketing campaign. The fact is that not every metric counts in every campaign. If your performance is not good, then a campaign of this nature might be precisely what you need.
The case is different if you have an e-commerce site. The reason is that users add an item to a cart, and therefore it will be important to track CPC. CPC usually points you to the cost it takes to convert a visitor of a site to a sale.
18. Cost Per Acquisition
Also referred to as CPA, only counts when your customer is a return customer. You will use this metric when your business is subscription-based or eCommerce. Think of it like when you are a member of a club in your town, and you pay monthly membership fees. You will find this KPI important, especially when you need to arrive at the lifetime value of your customer. You can use CPA to know the right amount required to get a new customer.
19. Overall ROI
You cannot talk about all the other metrics without mentioning return on investment. This metric is basically the end game. ROI tells the much you spent versus the much you earned. You may want to overlook the much you spent in marketing, but this metric points you directly to your investment in a business. Take your time to calculate your online return on investment. If you had to promote your YouTube channel to boost what you view YouTube analytics and make some money off it, then it matters if you know how much you spent.
Digital Marketing keeps evolving each day. Knowing how the business is performing does not have an end. It is important to pay attention to exactly what may be happening to your business. Most importantly, whether your efforts to achieve more conversions are effective before it is too late. Digital marketing KPIs point you directly to the bits of your online marketing efforts, to the problems underneath, and help you to come up with solutions that result to positive data on for you Google Console . Therefore, you may find the above metrics important in that journey.