How can you tell whether or not your digital marketing efforts are yielding success? The short answer is to check your metrics and KPIs, seeking quantifiable signs that your campaign is bearing fruit. But of course, checking metrics isn’t as easy as it might sound. A big part of that is the simple fact that there are so many metrics and KPIs to choose from; how can you possibly tell which ones are right for clarifying your marketing goals?
That’s a question that can really only be handled on a case-by-case basis, but for now, we’d like to provide a simple overview. Here’s a long list of marketing metrics and KPIs you might want to add to your dashboard.
A Guide to Digital Marketing KPIs
- Returning visitors. As you develop an online presence, one thing you’ll hope to accomplish is building an audience. You can measure the growth of your audience by keeping an eye out for returning visitors.
- First-time visitors. By the same token, it might make sense to keep track of how many newcomers you get; how they find your site; and how much time they spend there.
- Brand awareness. What are people saying about your business? And how are they hearing about it on their favorite social media platforms and/or search engines?
- ROI. A clean and simple metric to consider: For every marketing dollar you spend, how much revenue are you generating?
- Incremental sales. Are your marketing efforts leading to a steady increase in your sales revenue?
- Web traffic sources. What’s driving traffic to your website? How are people being connected to your brand on the Internet?
- Purchase funnel. How well do you understand your customers’ journey? Sales funnel metrics will allow you to chart the path your customers take, from awareness through purchase and beyond.
- Total visits. Sometimes, the most meaningful metrics are the simplest one… for example, the total number of visitors you get to your website.
- Unique visits. This metric lets you see how many different people visit your website.
- Customer attrition. Even the savviest companies are going to lose customers from time to time. It’s worth keeping your finger on this metric, which measures the rate at which you lose customers over time.
- Customer lifetime value. It may cost you X amount of dollars to acquire a new customer, but how can you tell whether that’s a good investment? The answer is to monitor the gross revenue that a new customer gives you over time.
- Customer Acquisition Cost. We hinted at this one back in #11, but it’s important to have some sense of how many marketing dollars you have to spend in order to bring a new customer into the fold.
- Clickthrough rate. When your website shows up on a Google SERP (or Bing, etc.), how often do users actually click on the link and navigate to your page? This can be a really telling metric to watch.
- Response rate. This metric helps you chart the rate at which customers respond to your efforts at communication (i.e., emails).
- Funnel Conversion rate. Are your new leads steadily moving down the purchase funnel?
- Marketing originated customers. This isn’t always an easy or a linear metric to measure, but basically it helps you to tell how many of your customers come in through your marketing efforts (as opposed to finding your business organically).
- Average time on page. This metric helps you determine how long the average visitor spends on your site, a good indicator of UX as well as the quality of your Web copy.
- Content downloads. Measures the total number of files people have downloaded from your website.
- Pageviews per session. How many pages of your website does a user explore during a single session?
- Cost per action. By measuring your CPA, you can determine how many marketing dollars you have to spend to get visitors to take a particular action.
- Dormancy rate. Measures the number of people who buy your product but don’t use it within a set span of time.
- New leads generated. It helps you determine how many new leads you’ve brought into your system within a specified timeframe.
- Referral traffic. This is a KPI you can use to see how much of your traffic is sent your way from other websites/sources.
- Web traffic concentration. Out of all your website visitors, how many of them visit a particular page?
- Bounce rate. Bounce rate helps you determine how many visitors come to your site and then leave without navigating to other pages. The high bounce rate is awful for SEO, so this is worth tracking.
- Website traffic leads ratio. Measures how many of your website visitors convert to leads.
- Online conversions. Measures how many of your website visitors become paying customers.
- Keyword metrics. Keep track of the keywords that seem to bring you the most traffic, a must for honing your SEO efforts.
As you can tell, there are a number of options to evaluate the efficacy of your digital marketing efforts. Make sure you’re watching the metrics that best align with your goals; with any questions, contact us today.