Tracking your KPIs and Goals is vital to any successful digital marketing campaign. This is how you measure the success of your marketing in general or of a specific campaign you have been running. A KPI is a ‘Key Performance Indicator’ which is how effectively your business is achieving its objectives.
Measuring the volume of traffic that you receive is a great place to start. This could be the amount of impressions your social media post or Google AdWords campaign receives. Alternatively, it could be the amount of traffic your website receives through various sources. This is a brilliant indicator of how your marketing is going across the different mediums.
When someone sees your ad this is referred to as an ‘impression’. Getting a good amount of impressions is important, but impressions only become truly valuable when they turn into someone clicking through to your website. Measuring your click through rate will allow you to see how successful your individual adverts and campaigns are at attracting people to your website. This provides you with the data needed to alter and amend these campaigns accordingly.
The value of a click or a website view all hangs on the vital point: did they convert? This could be a purchase, a newsletter sign up or even filling out a contact form. Whatever the action you want people to take on your website. A conversion is what has the potential to turn somebody into a lead rather than just another impression or a click. It is vital to track how many conversions you receive and how much it is costing you in order to get one conversion. Ultimately you want to be paying the lowest price per conversion.
Lead to Customer
Converting leads into customers is important for any business, tracking the journey can help you improve the rate of this conversion. You should track the average price of converting a lead into a customer, the amount of time and contact that it takes to convert them and the amount of website conversions it takes in order to get one customer.
How do you track these things?
Keeping a track of these indicators may seem like it will be a lot of work but in reality, it is extremely easy to keep a track of all of these. Using software like Google Analytics allows you to see the amount of traffic your website is receiving and what sources they have come from. This will allow you to track all conversions that come from different sources such as Facebook, organic traffic or AdWords.
The social media and AdWords programmes allow you to see the specific data relating to that platform. Here you can track your clicks, cost per clicks, conversions and your cost per conversion. Email software like Mail Chimp allows you to monitor the same data for email campaigns.