Choosing the right path for your digital marketing efforts can be challenging. With so many options at your fingertips, you want to make sure you choose the correct one.
To do this, you need to know how to track your digital marketing efforts in a systematic way. We can help you measure the results of your digital marketing efforts, so you know the best direction for your business.
Ways to Measure your Digital Marketing Efforts
Let’s start with the obvious: do your current marketing efforts generate revenue? If not, why? If so, how does it work? Can you make it better?
It is not enough to know you earn revenue. You want to see how you made the profit by tracking the sales through an eCommerce platform or Google Analytics if you provide services.
If you operate a retail outlet, remember to ask customers at checkout how they heard of you. These informal surveys help shape how you move forward with your marketing.
#2. Website Leads
Some businesses do not make money on the Internet. However, the Internet itself is an excellent source of leads. You want to capture them through a contact form.
Make sure to tie in your contact form to your marketing automation software, so you can nurture a lead if they are not ready to purchase at the current moment
#3. Website visits
Before you get leads, you need traffic. Google Analytics tells you where your visitors found your website.
#4. Time spent on the website
A good percentage of website visitors come to your site and then leave right away. These are called bounces, and they should track how much time each client spends on your website?
The more time they spend on your site, the more they are to engage with your content and become interested in your services.
#5. Page views
The companion to time spent on the website is page views. If someone spends all their time on your blog but never visits your product pages, it won’t help your business much.
However, if they read your 5-minute blog post and then click to your product or service page, you know they are interested.
#6. Device traffic
Do your visitors come from desktop computers or mobile devices? In the digital world today, you need to know how to create content for both audiences. They are very different, so you need to spend time catering your content to fit each one.
#7. Cost per lead/acquisition (CPL/CPA)
While these are two different metrics, they both help your business understand the same thing: how much does it cost to gain every new lead or customer?
Is the process profitable? If not, you need to come up with a new strategy.
#8. Click-through rates (CTR)
How many visitors click-through from one step to the next. The CTR helps you identify what percentage of your prospects move forward in your lead generation funnel.
#9. Lead to close ratio
Similar to the CTR, the lead to close rate explores how many of your leads become clients. The more leads you get that become clients, the better.
Your goal should be to improve this ratio by improving the quality of leads who come to your site and then improving your sales process after they come in your sales funnel.
#10. Return on investment
The final number is one of the most important at which a business looks for marketing purposes. How much money did we make from what we invested in the first place?
Understanding the best tracking ideas helps you measure the best way to improve your digital marketing efforts. That is why it is so important to know your numbers. Otherwise, you might not be able to improve your results.
If you have any questions about how to improve your digital marketing results, contact our digital agency in Melbourne.