Most Important Digital Marketing KPIs and Metrics
Measuring Success: Top Digital Marketing Metrics And KPIs
How do you evaluate whether your marketing plan was successful or not? Yes, it’s after judging whether the goals are achieved or not. In addition to it, when goals are measurable, KPIs and other metrics are evaluated. This is true for marketing and digital marketing as well. Under digital marketing, a marketer needs to continuously evaluate the KPIs to determine where the campaign lacks and which strategy needs changes. With the help of such evaluation, the efforts of the marketer can be aligned with goals and results.
But what are the essential KPIs that a marketer should know? To help you out with this, here are the details about the digital marketing KPIs and metrics. Let’s get started.
What do you mean by digital marketing KPIs and how do they help marketers?
Key Performance Indicators (KPIs) show the quantitative measurement of the marketing campaigns. KPIs are calculated after gathering the achieved results into numbers so that a marketer can adjust strategies accordingly. The digital marketing KPIs can also inform the performance benchmarking of your company. With the help of such KPIs, a marketer can set realistic objectives for the next campaign.
These KPIs also help in planning the digital marketing strategies around the targeted audience for better conversion. The important and helpful KPIs will help the marketer to measure the progress of the campaign to achieve the desired goal. It can be calculated for a specific marketing channel or across the whole campaign. However, there are many metrics and KPIs which can be chosen by a marketer.
List of Most Important Digital Marketing KPIs
There are plenty of metrics and KPIs that a marketer can use for evaluating campaign performance. Here is the list of important and supporting digital marketing KPIs & metrics:
One important KPI that a marketer should use for any digital marketing campaign is website traffic. Under this KPI, a marketer can ensure that new prospects are reaching the website. This will help the marketers to convert those visitors into leads. This KPI can be essential for marketers when they are using SEO and PPC strategies for getting better website traffic.
Under this performance indicator, a marketer can check the metrics like Organic traffic volume, Paid traffic volume, New visitors, Returning Visitors, and Referral Visitors. Each metric will hold different significance with different strategies. For instance, while using SEO strategies, the organic traffic volume metric is more significant. In the case of PPC advertising, the paid traffic volume will hold more importance.
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2) Reach and Engagement
Tracking and analyzing the reach and engagement of your social media handles and emails is also important for a marketer. It is so because it helps them to analyze the effectiveness of the strategy adopted for each platform. By analyzing the social media reach of your website, you can measure how many people are interacting with the posts and engaging with your brand posts. The metrics in this case can be the number of subscribers, likes, comments, or followers.
When it comes to email marketing, a digital marketer also needs to keep a track of the engagement rate for better monitoring. With the help of determining engagement rate, a marketer can determine which email list is most effective and offers better results. The metrics that should be tracked for this performance indicator include the open rates and click-through rates.
3) Impressions and Ranking of Keywords
Another important performance indicator is the keyword impressions and ranking. With this indicator, a marketer can measure how many times their website popped up on SERP with a given keyword. The website ranking will show where your website appears on the SERP results. Both of these indicators are important for a marketer to evaluate the performance of the SEO strategy. Both impressions and ranking achievements should be high for your website.
A higher impression and website ranking increase the visibility of the website and create brand awareness. You can check these indicators from your Google Analytics account to get exact details about the ranking and impressions of your website.
4) Lead Conversion rate
The next important performance indicator that a marketer needs to evaluate is the lead conversion rate. It means how many visitors get converted into leads. A marketer can convert a website visitor into a lead if the services and nurturing are done in the right manner. A marketer needs to make the interaction good for the website visitors.
This will keep the visitors engaged and there are more chances of getting lead conversions. It is important to track this indicator to improve the quantity and quality of the leads.
5) Cost per lead
Cost per lead is another KPI that is necessary to get tracked. If a marketer is carrying out the PPC Campaign, it will be very easy to run out of budget. In such a type of paid marketing technique, it becomes essential to calculate the cost per lead indicator. Cost per lead determines how much cost is incurred to acquire one lead from the internet. In the case of PPC campaigns, the cost will be the amount that a company will pay for each click or lead to the search engine.
With the help of this indicator, it becomes easier for a digital marketer to ensure that the right keywords are used for running a PPC campaign and that support the budget of the company. Sometimes, CPL also provided the ROI insights and verified the revenue targets achieved.
6) Cost per customer
The next key performance indicator of digital marketing strategy is the cost per customer. In the above point, a digital marketer will analyze the cost of getting a lead while it will be customers. Cost per customer determines the cost that is incurred by a business to turn a website visitor into a customer.
In this performance indicator, all the costs starting from marketing to the purchase will be added to make an estimation. This metric or indicator helps the digital marketer to make better decisions and improve the ROI of the business and strategy.
Digital marketing is a technique that requires monitoring of KPIs and metrics for making better decisions. All the KPIs mentioned in the article are important for any digital marketer for making better campaigns. However, when it comes to choosing the right KPI for your business, it will depend on the strategy adopted.
For instance, for email marketing strategy, one needs to calculate the email engagement rates for better decisions. While in the case of SEO, the ranking, engagement, and lead conversion rate can be essential. Therefore, choose a KPI that is suitable for your business and strategy.