To be strategic, you need to analyze the right metrics. Find out more about 7 of them in the article!
With more and more possibilities and competition in the middle of marketing, you can not waste time or miss the strategy. You need more than ever to keep an eye on some digital marketing indicators to make sure your campaigns are on the right track.
These numbers are able to help you see the parts of your strategy that are going well and those that need adjustments. Staying aware of this in time can be decisive for you to turn failure into success.
But there are many metrics available in the digital medium, which can confuse even those who already work with it. It is very important to choose the right indicators for this analysis to always improve and innovate in your business.
1. Conversion Rate
The idea behind monitoring digital marketing indicators is to make sure your actions are working, are not they? So, you need to start with a metric that goes straight to the point and shows how successful your initiatives are being.
The conversion rate points to the percentage of people impacted by your content that they have converted in any way, that is, they bought a product, signed a newsletter, booked a visit or any other action you are looking for.
This rate reveals the effectiveness of your campaign. That is, a low conversion rate means that you are failing to convince your target audience about the value of your offer.
2. ROI
All areas of a business need to be in the habit of calculating ROI. The acronym for Return on Investment aims to show how much a particular action, campaign or even a certain department is generating in relation to financial gains.
The idea, of course, is always to have a higher return than the initial investment. Monitoring ROI helps you to move toward that goal, also allowing you to turn on the warning signal when you notice something wrong.
Want to know how to calculate the ROI of some initiative of your company? Then look at the following formula: ROI = (profit value - total investment value) / investment value.
3. Bounce rate
Is your content really appealing to the public? A great way to be sure is by measuring his rejection rate. But what is rejection, anyway?
This digital marketing indicator points out when a visitor comes to your site and soon closes it. This signals that this person might not have found what he was looking for, that the page was irrelevant.
To prevent your bounce rate from increasing, you need to analyze your content and what your audience is looking for. This will allow you to prepare relevant content
4. Clickthrough rate
Some actions are meant to get your audience to a particular landing page. Monitoring the effectiveness of your marketing pieces at these times is very important to understand the performance of your campaign. So, it's time to know the click through rate.
If people are not clicking on your offers, something needs to be done. It may be that writing is not persuasive enough, or your image may not have inspired that action.
Click-through calculation is fairly straightforward: just divide the number of people who clicked on your offer for the total audience. As you may already be imagining, the idea is to keep that number always growing.
5. CPM
The acronym CPM stands for Cost Per Thousand impressions. This digital marketing metric is often used to measure the results you get in paid media campaigns focused on visibility and brand recognition.
That is, as the goal is to be seen by a lot of people, it makes sense to calculate how much you will pay for media per volume of views. Most current media platforms give you the option to use CPM, such as Google Ads and Facebook Ads.
Want to know how to measure it? It's simple: just divide the total cost of the campaign by the number of impressions the ad received, and then multiply that result by 1000. Being on the right track means keeping this value as low as possible.
6. CPC
This is yet another indicator of digital marketing related to the collection of media campaigns. CPC means Cost Per Click and, as the name already says, has to do with a very specific action, which is to click to the destination of the ad.
In many cases, it may not make sense to want only views. You might want to take people to your site, for example. So, the way to do this is to choose the CPC mode so that the click-through rate is the campaign's KPI.
Calculating CPC is quite simple: just divide the cost of the campaign by the number of clicks you've earned. That is, a low CPC should always be desired.
7. CPA
CPA stands for Cost-per-Action. This is also one of the digital marketing indicators used to measure paid media spending. With it, the most important metric for your brand will be actions.
What do you mean, actions? It is the case of wanting someone to convert, buy a product, sign up for a service or newsletter, fill out a registration form, and more.
It is calculated by dividing the total cost of the campaign by the number of actions it conquered. That way, it can be said that a low CPA means that you are managing to sell more for less.
Start Tracking Your Digital Marketing Indicators
Now is the time to do a detailed analysis of your strategy. There is only one way to know if it is generating value for your business: by following your digital marketing indicators.
Take into account your goals and objectives and start analyzing the metrics. From there, see what needs adjustments and learn from your successes so that your work is increasingly strategic.
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