Is Your Digital Marketing Strategy Moving in the Right Direction? These KPIs Will Help You Know

We are living in the era of digital marketing. You share a post and you instantly get to know whether it is a hit or miss by the number of likes it gets. In the field of digital marketing, one can effortlessly measure the performance of marketing strategy. Being a fiercely competitive field, digital marketing demands a strong strategy to survive in the cutthroat competition. However, it is important to know whether the digital marketing strategy is working the way you want. There are certain KPIs (Key Performance Indicators) that will help you track the results of your digital marketing strategy. A Leading digital marketing company in Ahmedabad not only helps customers build a robust strategy but also helps them measure whether their efforts are paying off well or not.

Evaluating the performance of lead generation, social media, advertising and SEO strategy will help you understand the outcomes of your digital marketing strategy. KPIs include Cost Per Lead, Marketing Qualified Leads (MQL), Cost Per Acquisition (CPA) and Website Visit Per Marketing Channel.

What exactly is a KPI?

KPI stands for Key Performance Indicator. They are metrics that help you understand how well you have performed in the current marketing scenario. Marketing KPIs play a vital role in decision making and assessing marketing data in an informative way. You can get an overview of your business performance through a dashboard and various marketing tools. This data can help you evaluate your strategy, make necessary changes if required and improve results on a monthly basis. KPIs are chiefly divided into five categories.

–          Lead generation

–          Website and traffic metrics

–          SEO optimization

–          Paid advertising

–          Social media tracking

These are five benchmarks that will help you understand whether you are working in the right direction or you need to make changes in your strategy.

Lead Generation:

Cost-effectiveness is the most attractive feature of digital marketing. A huge number of businesses are attracted to digital marketing because it is cheaper and more effective than traditional mediums of advertising like newspaper ads, billboards, etc. One way of evaluating your marketing performance is to measure how much did you spend on each lead. If someone signs-up for a free trial or create an account on your online retail site, then it will be considered as a new lead. You can know how many leads you have got by filtering leads by date. Cost-per-click ad campaigns, engaging SEO-optimized content, short-term social media campaigns, and discount offers may help you get more leads. After generating links, you have to keep an eye on how many leads have converted into business.

Website and Traffic Metrics:

Another KPI is to measure traffic on your website and increase conversion rate. Apart from monitoring overall traffic, you should keep an eye on the number of visits to multiple page categories like homepage, pricing page, blog, landing page, etc. This will help you get an idea of which pages of your website are performing better. If one page of the website has the highest conversion rates then you should analyze it and apply the same tactics to the other pages as well. Google Analytics is an effective tool to measure traffic on all your pages. Paid advertisement and creating SEO-optimized content are great ways of increasing traffic on the website. You can also measure how many users are new and how many are visiting it frequently. This will give you an idea of whether your content is engaging or not. In order to increase paid traffic, you can create attractive ads. However, to attract organic traffic, you will need to work hard on SEO and content. If your target is to get more traffic through social media posts, you will have to learn tactics to create interesting and engaging posts.  You can also measure how much time your audience is spending on your website pages. This will give you an idea of whether your content is compelling enough to engage your audience for a longer period of time or not. If the average time on your website page is higher, then your website is likely to rank well on search results. This means more visitors converted to leads.

SEO (Search Engine Optimization):

SEO is generally at the center of all digital marketing activities. It is used for attracting more organic traffic and acquiring highly targeted leads. If you are an industry expert, then your content will be shared on the other websites as well. This can be measured through the number of inbound links. Your stature as a brand rises when the inbound link is included in news, articles, and reports. You can use SEO for generating more organic traffic through search engines like Google, Bing, etc. Organic traffic greatly contributes to an increase in targeted leads. An important KPI is to monitor if your website gets traffic through a search engine query or not. For SEO, you have to learn the art of using targeted keywords that are closely related to your service or product. You can further check how many leads from organic search get converted into paying customers. This will help you refine your SEO strategy.

Paid Advertising:

If you do not evaluate ROI profitability, your efforts put in paid advertising might go in vain. Keep an eye on leads and conversions from cost-per-click advertising. This will give you an idea if your non-paid marketing performance is up to the mark or not. Cost-per-click advertising is generally expensive but it is important for monitoring ROI. It is a reflection of the profitability of paid campaigns. Pay per click advertising is another way of drawing more traffic to your website. If the CTR is low, it clearly suggests that you have to work on the ad content or its look so that more people click on it.  

Social Media:

 Social media can help you build a strong community and then turn them into your customers. Social media KPIs play a vital role in keeping track of marketing performance. Social media KPIs can help you understand how much traffic you can attract through various social media channels. However, you will have to keep sharing interesting posts, create social media campaigns to get more likes, shares, and followers. Along with being a brand awareness channel, social media can also be a highly profitable lead generation tool. You can use social media as a strong medium to reach your prospective customers. The better conversion rate means that the content you are sharing on social media is compelling enough. Another important metric is to check whether the number of followers is increasing at a substantial rate or not.  Social media channel reports provide highly insightful data that can help you understand whether the content you are sharing is engaging or not. There is also a provision to evaluate your brand image by monitoring positive and negative remarks. Also, measure your social media ROI. This includes the ratio of new leads, customers, and brand awareness to the budget you are allocating for social media marketing.

Everything in the field of digital marketing is measurable. You can utilize various tools to evaluate your performance and change your strategies if required. Keeping a track of KPIs on a monthly basis can guide you in the right direction and help you improve your performance.

Chirag Shah CEO and Founder at Shoutnhike.com I help client to grow business online with measurable result and swift ROI. I have 15+ years of Digital Marketing Industry experience and I have helped 2000+ business to grow online. I am Google Adwords and Analytics certified professional with practical expertise.