How to improve: Create new SEO-optimized content with multiple variations of a keyword. This widely used metric indicates the number of new leads acquired in the past month. Create an SEO strategy and publish content that supports your keyword ranking goals. How to improve: Create quality content and include the variations of the same keyword on your website. Once you have outlined your hypothesis, change things incrementally to ensure you can understand what made the difference. As part of the online advertising metrics and analysis, the Traffic source can define where to allocate your marketing resources. LinkedIn is a business platform, designed to connect business professionals and companies. Request a demo to see how Scoro can streamline the way your team works. When people search on Google, they rarely go through the second page of search results. It is simple. Marketing KPI (Key Performance Indicator) is a measurable value that marketers use to evaluate success across all marketing channels. Are your emails building a relationship with your target audience or alienating them due to inbox clutter? A list of the key digital marketing metrics every business should track. One easy way to do this is to have a main email sequence that all of your new leads receive, with a broader focus. How to improve: Create highly targeted campaigns to reach the right audience. The value starts to show when your site ranks high in an organic search. Formulating social media engagement is serious business. It seems intangible and fleeting. How you translate that information will determine the success of your strategies. How to improve: See what types of free and paid campaigns work best for you and increase the budget and time spent. How to improve: Inbound links come with a reputation, so establish your brand as an industry expert to be included in news, articles, and reports. Next, use your marketing or CRM tool to see how many of that month’s leads from a particular source have converted into paying customers since they entered your sales funnel. How to decrease: Similarly to the retention rate, the churn rate depends on the quality of your services. Offer benefits and information that your customers didn’t even expect to receive. How to measure: If you’re using Google Adwords, the results are outlined in your Google Analytics account. Second dimension of this digital marketing KPI is the paid traffic. It is not going to be useful to stick with the old, pre-digital KPIs because metrics will have different values. High page authority helps your content and landing pages perform well in search engine results. We continue expounding measures of digital marketing with Customer Lifetime Value (LTV) – a metric used to predict the profit you’ll generate from your relationship with your customers. How to measure: Use a page rank checker to see the value of this SEO metric. The old business adage “you can’t manage what you don’t measure” is on point when measuring your acquisition costs. Further, A/B test your ad elements – design, copy, CTAs, etc. It should be noted that this digital marketing KPI is difficult to track because there are often multiple players and efforts involved. Why? Find ways to get new inbound links from websites with high page authority. For organic traffic, improve your SEO by interlinking your website’s pages and providing helpful content. With the right tools to measure digital marketing performance, including social media channels like Facebook, you can set a healthy practice by utilizing the right KPI software which will decrease your operational costs. It is important to create your own specific plan. How to measure: This KPI should be calculated with a two-month time gap as it takes time for leads to convert. As a small business owner, you have big goals. How to improve: Provide the best customer care you can think of. A low organic conversion rate indicates that you might have high-ranking keywords that confuse the audience and deliver wrong messages about your service or product offer. This pays off in spades and is easy to build into your long-term digital ROI and spread over a depreciation period, while the monthly maintenance fees factor easily into the cost of customer acquisition. How to measure: Use your CRM tool and categorize paying customers by dates (e.g., past month) and lead sources (organic search). It’s intuitive and you can start building compelling business dashboards in a couple of clicks, which leads to actionable insights that can help your company become more profitable. The number of leads alone does not designate a successful digital campaign. However, it is important to keep in mind that not all unique visits are the same. How to improve: Test something new every month – change your Facebook ad design, improve your ad copy, change call-to-action text, etc. Cost per Lead by Source. Marketing Metrics are measurable values used by marketing teams to demonstrate the effectiveness of campaigns across all marketing channels. This marketing KPI shows how much it cost to acquire leads that also converted to paying customers. That could directly affect your results, which, at the end, will decrease your ROI. You can see how much your marketing strategy is costing you each step of the way and understand how much Return on Investment you’re getting. As viewers are more likely to conduct a specific action (if they watch your videos more than 30 seconds, as mentioned earlier), then you should be able to define which Traffic source is your main point of interest. Monitor the number of monthly leads and conversions from social media to assess this channel’s efficiency in your marketing efforts. Check them before setting your own benchmarks. This social media metrics show the number of people who have actively engaged with your posts (shares, likes, clicks, etc.) There are a lot of vanity metrics that appear important but don’t directly contribute to your bottom line. These are the “happy customer” metrics. Were there any spikes during the campaign? Tracking this involves comparing traffic with media flights (dates they ran). Prospects, who have the potential to become a paying customer, can be categorized into three groups: How to measure: Categorize all leads in your sales funnel by using CRM software. KPIs, too, will need to be reconsidered in the context of the digital landscape. And the best way to do this is by tracking different marketing KPIs. How to improve: Find the social media channels with the highest ROI and focus your marketing efforts there. And here are the key performance indicators you should track for your next campaign. But let’s see how we can see this in a practical KPI for digital marketing. From the Number of Fans to Page Views, or Cost per Conversion – depending on the budget and the time invested, different Facebook KPIs will bring different results. Similar to LTV is visitor loyalty. Since businesses have been able to track KPIs, Customer Acquisition Cost has been at the top of the list. How likely is a client to recommend your product or service to a friend? Every brand within each industry caters to its market and chooses a strategic path to follow in hopes of garnering the most consumers and making the most sales. Finally, design a new digital marketing strategy, keeping in mind what’s been working well for you in the past. How many qualified leads are coming from mobile first? On the example above, we can directly see the percentage of followers by industry and job function. More on how to set digital marketing KPIs, you can read in the article “Choosing effective digital marketing KPIs” by Smart Insights here. You may not notice your site’s traffic increasing right away but it is important to pursue because the results are so valuable. Try Scoro free for 14 days. Popular marketing KPIs include Cost Per Lead (CPL), Marketing Qualified Leads (MQL), Cost Per Acquisition (CPA), and Website Visits Per Marketing Channel. Next, decide if there are any channels that you should actively stop using due to lack of results. How to measure: Use your CRM tool to track all prospects and customers with “social media” lead source. How to improve: Make your website as easily navigable as possible. Unique visits: UVs are the most standard measure of how many individuals have viewed your content within a given time frame (typically a 30-day cookie window). You cannot target teens on LinkedIn if their main social media is YouTube. Some of the most common examples of KPIs for marketing include: Number of new customers acquired. How to measure: Use Moz’s browser extension for a quick overview of every single page’s authority. In this case, our digital KPI is the Click Rate performed in the last 30 days. How to improve: Present a compelling value proposition, add more CTA-s to your pages and content, test various call-to-action messages to see what works the best. How to improve: Upload videos directly to YouTube, embed the video onto your website, and create a video sitemap. In a smaller team, or this will be divided up in a way that works for your marketing mix. Complement your landing pages with colourful images for organized and easy-to-read text. How to improve: You can improve the landing page experience of every single keyword by providing additional information and quality image content. The cost involved in increasing your trust is not a purchase but an investment. How do you measure KPI in Digital Marketing? According to Lon Safko, professional speaker and coach for social media strategy, “every business should look at its cost of customer acquisition at least twice a year and after each campaign”. Customer lifetime value. How to measure: Sum up the time, resources, and money spent on marketing activities and compare the results to the number of monthly leads. Your cost per lead measures the average price for your company to earn a new lead. Link to other relevant pages on your web page to build an entire network of interlinked content. How to measure: Use SEO tools such as Moz, Alexa, or SEMrush to crawl the web and see all inbound links to your website. This will help you understand which content is most engaging for your audience. Divide the total monthly cost of a lead source with the number of conversions to see how much acquiring a new customer cost you. Understanding your inbound traffic sources helps to determine the most profitable marketing channels. Measure your company’s cost per lead with the following formula: Cost Per Lead = Spend / Number of leads Many businesses fail with paid advertising as they forget to evaluate their ROI (return on investment) profitability. You want to keep lead acquisition costs low so that you can maintain healthy margins and see meaningful growth. The low mobile conversion rate shows flaws in mobile marketing efforts. Digital marketing teams use a number of tools to promote their services and products, and tracking the results can often be time consuming and difficult. 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