Measuring your results can truly bridge the gap between struggling plus making returns on your investment. There are many ways to gain insights into your digital marketing efforts, but it’s important to choose only those relevant to your overall strategy.
Let’s discuss the most essential metrics and how they can help you succeed. You can find three categories, Traffic, Conversion and Revenue.
1) Site Visitors – This metric will provide insight as to whether your digital advertising techniques are effective or not. Remember to focus on unique visitors your site receives instead of website hits and page sights.
2) Source of Traffic – How did your visitors land on your web site? For more about Digital marketing agency Hong Kong take a look at the website.
Maybe the keywords you utilized brought them there, maybe it was a search query or even referrals. This metric will let you know what channels you need to be focusing on.
3) Click Through Rate-The CTR of any digital marketing plan is the number of viewers who also actually clicked on the ad/offer. The best way to increase CTR is to combine this with effective content and a strong Call to Action.
4) Mobile Traffic : This needed to be on the list taking into consideration the growing mobile internet traffic in the digital marketing playing field. As more and more individuals gain access to the internet via their smartphones, new opportunities arise for bigger and better revenue sources. This particular metric provides insight on how to structure and plan your marketing strategy and achieve beneficial engagement with viewers.
1) Conversion Rate – Conversion is the primary goal of your strategy. You need to convert traffic directly into sales/leads. Monitoring your conversion rate can help steer your strategy within the right direction.
2) Bounce Rate – If your site is unimportant to the viewer, they will simply by pass or ‘bounce’ off the page. Some insight into this will help you approach the best target audience/ potential leads.
3) Rate of Return – Your site’s popularity is not only defined from your traffic but also the rate of come back by viewers. Knowing your rate of return can help improve your web site so as to convert traffic into qualified prospects and to solidify the engagement.
Price Per Conversion – Also known as price per lead or cost for each referral. This metric determines your overall profit margins. A higher CPC may turn damaging if the costs are so high which they reduce your net income. There are even digital advertising training programs that include this as a course, thus making it an art that should be paid attention to.
1) Return on Investment : Insights on your ROI will figure out which parts of your site are really driving sales and bringing in revenue, and which parts require a lot more effort on improvement. Your ROI is the ultimate measure on your achievement as it proves your marketing campaign to be either profitable or not.
2) Cost Per Acquisition -CPA is all about income and is accounted for only once a guest becomes a paying customer. This metric will determine how much you spend, to get a customer to spend on you. Tracking your CPA will determine whether the strategies you’ve employed to gain leads will be working or not.
Spending your electronic marketing funds in an effective way and measuring metrics will ensure that you are doing the best for your company in this spectrum. The metrics will provide quite a accurate picture of how you are doing and where you need to place more efforts, thus enabling you to adjust to the rhythm and convert traffic into prospects.