Real Estate Website Design Ideas
30th Jun 2021
Key Digital Marketing Metrics To Grow Your Business – Part 3
In this concluding part of Key Digital Marketing Metrics To Grow Your Business , we shall be looking at other metrics that matter in the consideration of growing your business digitally.
Other Digital Marketing Metrics That Matter
Sometimes confused with reach, an impression is the larger overall number of views your content or advertisement receives.
Your content on social media or a pay-per-click ad may be shown multiple times to the same person. Each time is counted as an individual impression. As a result, this number will always be higher than reach because the reach metric is only triggered once per user.
The posts you make on your social media platforms are meant to reach a wide number of users. This social media metric tells you exactly how many people were reached (i.e. saw your content).
Now, the number of people reached is always much larger than the number who engage.
A benchmark goal is to see 2-5% engagement based on your overall reach.
Tips to increase your social media reach:
Social Engagement reflects the total number of interactions made on any given social media post.
This could mean:
Engagement is the yardstick by which to measure all of your social media success.
You can pay for all the others, but engagement is only earned when a user chooses to interact with your content. Because of this, you can easily rank your content types based on how much engagement they receive. This helps to guide your future content creation!
If you’re list building with your website (and you should be), this is one of the most important email marketing metrics you need to watch.
Your Email Open Rate measures the number of people who open your email campaign as compared to the overall number of those who received it.
High open rates indicate:
Low open rates tell you at least one (if not all) of those factors above are lacking.
The Click-through Rate (CTR) metric can be applied to email marketing as well as paid advertisements. Clicks on email blasts are often some of the highest conversion-drivers across the board.
Your CTR as it relates to pay-per-click helps to determine your relevance score and affects your Cost Per Click.
Cost Per Click applies to both pay-per-click marketing and a number of social media platforms that offer the clicks-to-site ad type.
These online metrics reflect the amount you pay for each individual click a user performs. This is relevant as it directly relates to your overall marketing budget in this area. Your budget can only go so far; the lower your CPC, that farther it goes.
Cost Per Conversion relates completely to your individual business model, and often to your individual online marketing campaign. As I mentioned previously, not every metric matter to every campaign. This might be one to leave off if you aren’t converting sales directly online.
However, if you’re running an ecommerce website where users can add something to a cart and convert there, CPC is a must-track metric. Simply put, these digital marketing analytics tell you how much it costs to convert a site visitor into a sale.
Your Cost Per Acquisition (CPA) is only relevant when you have returning customers. This doesn’t just apply to subscription-based businesses or even ecommerce sites. Consider how a private golf community calculates CPA knowing that their members pay monthly dues.
Understanding the lifetime value of a customer helps you back into the proper amount you should spend to acquire a new one.
This metric should come as no surprise as it serves as a true baseline for success. Basically, ROI equates to how much you spent (investment) vs. how much you earned (return).
It’s easy to lose track of exactly what you’re spending on marketing because we often fail to count hours of effort. Ensuring you properly calculate your online marketing campaign’s ROI will be the key to determining if it was an overall success or not.
Digital Marketing Metrics For The Win
If you’ve made it this far, you are now well-equipped to measure your digital marketing campaigns by using the right data to track the success of brand building.
Remember these key factors when you’re ready to create, execute and measure the next campaign for your online strategy.
Key Digital Marketing Metrics To Grow Your Business – Part 3: Measure your digital marketing campaigns by using the right data to track your success.
First and foremost, set goals for your digital marketing campaigns. Then, select marketing metrics of value based on those goals.
Choose from these:
Finally, always use the analysis of your incoming data of “Key Digital Marketing Metrics To Grow Your Business” to guide the next steps.