As a digital marketing manager myself, there are many different metrics that we try to measure to optimize our campaigns. Also, with so many different measurements that the major tracking systems like google analytics and Kissmetrics gives you, the different metrics can get overwhelming. Here are the main marketing metrics to analyze while reviewing your data.
In order to achieve the best results from your campaigns there are some main metrics you need to keep in mind.
- Cost Per lead- This is the total cost you are paying for every lead you generate. This can be determined in total or by specific campaigns. The reason you need to pay attention to this metric is because it will determine your marketing effort ROI. By understanding your cost per lead, you are able to determine if the money you are spending is actually working. You can determine the cost per lead measured against the conversion rate of your leads and the lifetime value of a customer. Formula: Total investment on campaigns / Total leads generated.
- Click through rate - Understanding how many people are viewing your ad and actually clicking through is crucial to your campaigns success. If you don’t know how many people are actually clicking through to your website or business, you are basically losing money. Formula: Impressions on the ad / Click on the ad.
- Cost per Click - There are many ways to pay for advertising online. One of the major ways to pay for ads online is something called pay per click. The basic idea is that you are only paying for the clicks you receive to your landing page. One way to measure this is take the overall cost of the campaign divided by the clicks you received.
- Time on site - Knowing how much time your customers are spending on your website and blog is also very crucial to understanding the success of your marketing or inbound marketing efforts. Once you know how long visitors are on the site will determine if the website is designed correctly or if the content is relevant to your customer. You can determine this by viewing your google analytics report.
- Bounce Rate - This is the metric that shows you how many people left the website without viewing a second page. Knowing this number will help marketers understand if the website is catering to the visitor. If your bounce rate is higher than 50%, you might want to rethink your website. You can view this metric through your google analytics dashboard.
Now, there are many ways to interpret the data and how you can make changes to your campaign. If you would like to setup a time to go over your campaigns, lets hop on a call for 15 minutes.
Check out some of our other post about inbound marketing and how it can change your business.