After launching an online marketing campaign, the next step is to determine the ways in which it is progressing. It’s not enough to post something online and expect things to end well; learning how to translate metrics as and when they come in will enable you to determine if the campaign is working or if it has gone down like a lead balloon.
Some readymade tools, such as Google Analytics, have been put to use by marketers across the globe to assist in identifying these metrics. The demands marketers place on these tools are, however, constantly shedding new light on the limitations of these platforms – but, such is the inherent value of metrics, a wide range of Google Analytics alternatives have been disseminated into the wide world of digital marketing, and to great effect.
When it comes to the day-to-day process of analysing your metrics, however, you need to know how to identify the status of these campaigns to determine the next step. You also need to identify potential changes for improvement. Below is the list of useful metrics to consider.
Conversion rate
This metric refers to the number of people who visited the website and decided to buy the products and services. The ultimate goal of every online marketing campaign is to convince people to patronize the brand. Therefore, it makes sense to prioritize the conversion rate as a metric.
If it’s high enough, it means that the strategies are working. However, there should be a realistic goal. On average, a good conversion rate falls in at around 2%. It depends on the industry. It might seem low, but it’s not. Imagine seeing 5000 people visiting your website. If you have a 2% conversion rate, it means that a hundred people decided to buy. It’s an excellent figure, and it shows that the company is getting more profits.
Impressions
This metric refers to the number of people who saw the advertisement. It doesn’t mean that they clicked on the ad. It’s essential to know the impressions, especially for paid searches. If the impression rate is high, but the click-through rate is low, it shows that the ad isn’t good enough.
If the impression rate is low, the business might not be paying for the right keyword. There should be a change in strategy to increase the number of people who can see the advertisements.
Traffic
Traffic refers to the number of people who visited the website. When more people decide to visit the page, it shows that the search engine optimization strategies are effective. It means that you successfully convinced them to click on the link and see what else is in store for them. The problem is that traffic doesn’t get a complete picture. It doesn’t necessarily tell you if you’re getting the right traffic.
A 500% increase in traffic doesn’t mean that all of them will become buyers. You might even target the wrong people, and it won’t do anything to boost your company.
Targeted traffic
This metric is a better way of gauging success. It shows the number of people who visited the website, and their demographic profile. It also shows how they managed to make it to the website in the first place. It could be through advertising or referrals, a strong social media marketing strategy, or via that all-important organic traffic. It’s better to understand this metric since it tells you which strategies are effective in bringing people to the website.
After analyzing these metrics, the next step is to improve the advertisements. Perhaps, some changes will entice more people to visit the page and buy the products and services.
