Interestingly, digital marketing KPIs have become crucial to track companies’ success. The marketing budget has been one of the major topics discussed in marketing since its beginning. When traditional marketing was the only option to promote a business, people had to decide between investing in radio, television, newspaper, magazines, billboards, etc.
Nevertheless, with digital marketing, it has become a little effortless to calculate ROI and investment each digital marketing category requires. So, measuring digital marketing effectiveness is straightforward, as marketers must follow the users’ pathway and conversion rate for better analysis.
So, do you know how to measure digital marketing performance?
Well, marketers can easily measure the success of a budget by following some primary KPIs of digital marketing.
We will discuss some significant digital marketing KPIs you need to follow to make your digital marketing campaigns or strategies productive.
Let’s start discussing the metrics to measure the success of a digital marketing campaign.
What is KPI?
Key performance indicators (KPIs) can be explained as measurable data that helps businesses to identify successes and failures in their marketing effort. Besides, KPIs can also help companies to improve their strategies and make augmentations where needed. The key benefit of KPIs is that businesses can adjust their digital marketing campaigns and alter them as per ongoing trends. As a result, digital marketing effectiveness advances, and businesses start earning more.
Significance of Tracking Digital Marketing KPIs
There are several impressive benefits of tracking your company’s digital marketing KPIs. Firstly, you can better determine what works for your company and doesn’t. You can relocate your resources to make them work for your company better. Secondly, your staff feels motivated and leaves no stone unturned in creating marketing campaigns that are valuable and productive.
It helps you achieve marketing goals in less time and without spending more expenditure on digital marketing campaigns. Your business can follow numerous metrics to measure digital marketing campaign success, but we have highlighted some significant metrices for you. Let’s get started.
Digital Marketing KPIs
If you genuinely want to know how to measure digital marketing performance, here are some KPIs you must follow.
1- Website Traffic
It’s an imperative KPI that maintains a track record of unique visitors visiting your website within a specific period. For example, you can easily track your website’s audience for the last week, month, or year.
The remarkable thing about monitoring your website traffic is that you can keep an eye on trends that can help you understand the targeted market’s habits. Besides, you can determine when your audience is active on your website and vice versa. It’s the best way to determine an ideal time to post your content to ensure your audience notices it.
2- Traffic Channels of Your Website
This KPI measures the origin of your website traffic, i.e., whether your website traffic originates from social media or referrals.
It is necessary to assess your traffic sources daily to decide the vital marketing channel that brings you the maximum traffic. Furthermore, it is advantageous for your business as you can allocate more resources to that channel.
Your website traffic comes from five diverse sources, including organic traffic, direct traffic, referral traffic, paid search, and social media search. Digital marketing KPIs can help you monitor whether your website traffic originates organically or comes from social media platforms.
3- Mobile Traffic
Surprisingly, more than 50% of website traffic comes from mobile phones. Hence, it’s the need of the hour to track your mobile phone traffic.
Mobile traffic metrics can quickly identify the percentage of traffic your website receives from mobile devices.
Once you have tracked mobile traffic, you can easily tailor your products or services accordingly, which users can easily access on mobile devices. Here’s what you can track;
- Bounce rate coming from mobile phones and other smart devices
- Conversion rate
- Renowned mobile devices people use when they access your website
- Lead generation from mobile devices
So, track all these factors to generate more website traffic for your business.
4- Return on Investment (ROI)
Marketers, businesses, and investors use this matrix to track their investment performance over time. You can easily calculate it by net profit or loss generated by the total investment cost from a given investment.
It is strongly recommended to measure the ROI of digital marketing campaigns to see if they generate profit for your company. You can stop working on some campaigns if their profit is less than the cost you incurred while starting the campaign.
5- Average Time on Page
This matrix determines the average time a user has spent on each page of your website. Measuring or analyzing visitors’ average time is imperative as it gives insight into people’s behavior every time, they visit your website.
For example, you can easily determine which pages users take longer to interact with and which pages are not valuable. Evaluating the relevance and quality of content you have added on your website is essential. Also, it helps you to change your content according to visitors’ interests to grab their attention for a longer time.
It’s Time You Stop Thinking About Digital Marketing KPIs And Start Tracking Them
Are you still wondering how to measure digital marketing performance?
The above KPIs are enough to measure your marketing performance and achieve desired marketing goals. In addition, such digital marketing KPIs are lucrative in identifying risks and profits associated with running a specific campaign.
Therefore, measuring marketing KPIs more often is suggested to make your business prolific. You can visit Wizspeed as our digital marketing team better realizes your digital potential.