28 May, 2017
Digital Marketing Campaigns:
Digital marketing campaigns are the advertising mediums that are used as part of the digital marketing strategy of a business. This includes promotional efforts made through Internet, social media, mobile phones and electronic billboards as well as digital, television and radio channels.Digital advertising is an effective way to improve brand awareness, in case of paid search–to drive instant traffic that can be turned into sales and leads.
Whether launching, branding or performance based campaigns, the main goal for marketers is to generate traffic on the sites (landing pages) and eventually turn their audiences to customers. To measure effectiveness of different campaigns, there are several important metrics that marketers should know.
How to measure the performance of digital marketing campaigns:
- Traffic Generation
Measuring the traffic to your website is an important tool for improving the effectiveness of your search engine optimization (SEO), but you can get more detailed measurements by looking at landing pages for individual pay-per-click (PPC) campaigns.
The number of visits to your site will give you a bird’s-eye view of how well your campaign is driving traffic. If your campaign is healthy these visits should steadily increase. If they don’t, you’ll need to review your individual marketing channels and adjust what’s not working.
- Who Is Visiting?
Most analytics tools allow you to measure the total number of new sessions, so you can see how many of your visitors are new and how many are returning. This will show your effectiveness in reaching and engaging customers. If you’re not attracting new visitors, you may need to make adjustments to your strategy at the top of the funnel.
If your bounce rate is high (means visitors leave without interacting with your site) you may need to review your relevance to your target customer and adjust your outreach efforts. The longer users stay on your site, the more likely they are to convert.
- Who Is Coming Back?
Most businesses can measure customer retention rate simply by looking at the number of repeat customers. This metric is affected by elements like how engaging and relevant your site is to your customer; the freshness of your content and design elements such as ease of navigation, contact information, FAQs and consistent branding.
If users travel through your website but don’t return, you may need to look at elements such as overall website design and relevance, keyword use (if the visits were organic) and final sales strategy. The rate of return to your site helps you determine whether you need to improve your content to make it more attractive to users. Engaged users are more likely to return and convert.
- Where Are They Coming From?
Google Analytics has an acquisition section that shows you where your visitors are coming from. This is a useful metric for determining which channels are performing well and which are not. High organic results indicate that your SEO is strong because people are visiting your site after performing a search.
High social traffic is indicative of your social media advertising and presence. External results will show you how effectively your brand is being mentioned on third-party sites. Mobile visits will show you how well you’re engaging with mobile and smartphone users.
- Click-Through Rate
The traditional measurement of key performance indicators (KPI) has been click-throughrate(CTRs), largely from display advertising. But display ads have a low CTR. Therefore, CTR should be used in combination with other metrics for a more accurate determination of banner ad effectiveness.
CTR measures how many viewers clicked on the ads. High CTR indicates high relevance between the ad /landing page with targeted audiences. It also shows the efficiency of the different channels in terms of generating clicks/ traffic.
- Conversion Rate
Measuring conversions is one of the most important metrics you need to track. Conversion rate can define your online marketing success no matter if the goal is to convert visitors to sales or gather key information of potential clients (ex-sign-up, etc). But a conversion does not necessarily mean a sale.
These goals include increasing interactivity or generating leads by filling out a form or commenting. You can set up a goal in your analytics toolbox and measure these conversions. If your conversion rates are low, you’ll need to assess aspects of your website, including design, navigation, relevance, engagement potential and the checkout process.
- Cost Per Click
Cost per click (CPC) shows the average cost to get a click for marketers, it is calculated by dividing the total cost of clicks on your ad by the total number of clicks. The cost of each click is determined by the value of the keywords you bid on.
If your CPC is high in relation to conversions, you’ll need to review your keywords and adjust them to see which will work and which don’t. You can use your analytics program to guide you.Marketers should clarify their main campaign goals first to decide which metrics are more relevant.
- Cost Per Lead
CPA/CPL defines the cost to generate a new lead, which gives marketers information on how profitable the campaign is, to decide if they want to continue or not. Cost per lead (CPL) offers more detailed insights into the effectiveness of specific marketing channels. For example, the if you spend $1,000 on your PPC campaign and 10 users convert to leads, your cost per lead is $100. If this is too high in comparison to the cost of your product or service — $100 per lead has a different value for a business selling luxury cars than for a toy store. You need to adjust your PPC campaign accordingly.
- Social Metrics
Social is primarily about exposure and is measured by interactivity. For example, if your campaign generates a million new followers but few are interacting, sharing or retweeting, then your campaign can’t be considered a success. Social metrics should include new followers, comments, likes, retweets, channel views, bounces and subscribers, as relevant to your social media platform. When it comes to social, growth rate is a more important metric.
Bounce rate represents the percentage of visitors who enter the site and leave without doing any action. First, marketers can use bounce rate to measures the attractiveness of the contents in motivating visitors to continue their visit. Those visitors who “bounce” immediately might find the content of sites/landing pages irrelevant to their needs.
Therefore, marketers can also use bounce rate to evaluate the quality of traffics brought by their campaigns to the landing pages and see if those are relevant audiences. High bounce rate indicates campaigns or landing pages that need to be stopped or improved.
Although there are many other digital marketing metrics available, the above metrics should be able to give you a clear overview of how well your marketing efforts are. Each metric serves particular field so marketers should make use of a good mix of metrics to spot on which marketing strategies work and which need to be changed.