To know how well your business is doing, you need to measure your achievements and compare them with the plan. Digital marketing isn’t an exception to this rule. You need to measure campaigns with quality and accuracy and the indicators you obtain will tell you how well you’re doing and whether your strategy was correct. However, if you want to get a realistic picture and valuable information about your performance, you first need to know exactly what you should measure. That’s why we’ve prepared the following list of crucial digital marketing KPIs that most definitely deserve your attention.
1. Monthly website traffic
This is possibly the most fundamental and straightforward metric, showing you the monthly volume traffic on your website. The details you can obtain from Google Analytics include the number of visitors in pages, visitors in product categories, visitors by price filters, visitors in landing pages, visitors on the blog (if integrated into the institutional website) and visitors per channel. This latest category, for example, is important because it shows you which channel this traffic was built through, so you could find out if the visitors came through social media platforms, organic search or GoogleAds. Using a reliable seo reporting tool will help you get this valuable information; among other great benefits it offers.
2. Average time on page
Another ranking factor that is considered by Google’s algorithms is the average page time. The way Google interprets this factor is as follows: if users spend only a short time on a page, it suggests that the page is not offering all the information the reader is looking for. You can check this KPI in Analytics and also check the metrics individually by pages, like homepage, product category, blog posts and landing pages.
3. Cost per lead
You need to know the individual cost of each lead earned in order to comprehend how much money you spend from the budget to get a new contact. The rationale behind this is that you need to evaluate if the amount invested is compatible with the efforts you invested in getting the lead. This includes not only financial resources, but also the number of working hours, i.e. your human resources that you need to utilise within a specified period.
4. Cost per conversion
This KPI is used to determine what you’ve invested in turning leads into a converting client. This is one of the crucial metrics, because it helps you to measure the quality of mid-funnel media strategies. Needless to say, the higher the conversion, the better. You need to check the number of leads received in the period and, considering the same period, measure how many conversions it performed. In this period, you should also evaluate the cost and efforts used to achieve the obtained conversions. Divide the monthly cost of a source of leads with the number of conversions to find out how much each new client costs.
5. Client satisfaction
You also want to know how satisfied your customers are with the business. Finding out, for example, how likely they are to recommend the product or service to a friend can really tell you a lot about their level of satisfaction with dealing with your business. On a scale from 0-10, an average grade of 9 or more represents “brand enthusiasts”, while grades between 7 and 9 tell you that those customers are satisfied, but not so engaged, meaning they will look for better products, services and overall experience. Grades below 7 indicate that your customers are dissatisfied and likely to speak ill of the brand.
6. CTAs conversion rate
Calls to Action (CTAs) is typically used to generate conversions when purchasing an item, downloading content or accessing a page. The KPIs related to this activity measure the rate of conversions obtained through a CTA. All you have to do is configure which buttons to track in advance and then access the indicator later to check the conversion rate in the CTA. If your website doesn’t have this feature, you should introduce it immediately, because visitors may be interested in your offer and want to make a purchase, but will likely give up on the idea if they aren’t able to do that instantly.
7. Traffic from organic search
Every digital marketing campaign needs to pay special attention to organic search. The aim is to boost the volume of access your site has from a regular Google search and it’s done by adapting the SEO parameters that Google requires. This KPI is easily measured with Analytics, but in order to know how you need to adapt your content to attract more traffic, you probably need to hire an expert to help you with this extremely important element of each digital marketing campaign.
Monitoring these KPIs is crucial for analysing the success of your advertising campaign. They can help you adapt your strategy and pinpoint areas with room for improvement. Logically, if you’re investing resources into something, you want to know if the investment has paid off and there is no way you can get your answer unless you select the right KPIs and obtain correct and reliable data.