Every business needs digital marketing to succeed. Many digital marketing companies now offer their services. Through various online marketing campaigns, they help businesses realize their full potential. These campaigns can include email blasts and social media promotion.
These marketing campaigns used to be very costly and could only have been afforded by large companies. These solutions are now affordable and cost-effective for businesses of all sizes. Here are some methods to measure the success of your digital advertising campaign.
How Do You Measure Website Traffic?
Website traffic refers to the number of people visiting your website. This is a key metric for digital marketing success. It helps you to understand how successful your online campaigns are. But, how to measure website traffic? This can be measured using Google Analytics or any other tracking software. Then, analyze the data over time. These are some important metrics:
- Unique Visitors: This is the number of unique visitors that visited your site in a specific period (e.g. one month or one calendar year). It does not include visitors who have visited the site multiple times. This shows how many people visit your site every day, week, month, and year. It also indicates how frequently they return to it throughout their lives.
- Bounce Rate:Is the percentage of single-page visitors compared with total page views per visitor. This shows how likely it is that someone will go straight from page A to page B again without looking around further or engaging with what’s available (e.g. “bounced”) High bounce rates can be indicative of poor user experience (e.g. Broken links or bad targeting can lead people to places they don’t want!
Conversions
Your marketing campaign should be focused on conversions. Conversions are your goal, no matter if you want to increase sales or reduce costs. Tracking the conversions after a Digital Marketing campaign is complete is the first step to measuring success. This can be done by setting up conversion tracking to your website so it tracks each action taken, such as signing up for a newsletter or purchasing a product.
The information can be used to analyze the data and pinpoint areas for improvement. Although conversion rates can vary from one company to another and from one industry to the next, most marketers agree that a minimum of 2% is considered to be successful. If possible, higher! Don’t worry if your conversion rate is below that level. There are many ways to improve it without spending more money on investments such as ads and landing pages.
Sales Volume
Sales volume is the most important metric in a digital marketing campaign. Only sales volume matters. It is crucial to keep track of click-through rates and conversion rates when you run a digital marketing campaign. These measurements only have value if they increase in sales volume. Otherwise, your campaign will be unsuccessful.
Brand Awareness
Measuring Brand Awareness. This is one of the most important metrics in digital marketing campaigns because it shows how many people have been exposed to your brand, product, or service. You can use brand awareness to determine if your website needs more content or what content resonates with your customers.
You can measure brand awareness through:
- Social media metrics include likes, shares, and comments, as well as retweets.
- Google Search Engine Page views.
- SEO metrics such as backlinks to your website and blog posts.
High levels of brand recognition have been achieved by companies such as Dell Computers (Dell), Coca-Cola(Coke), and McDonald’s.
Customers Acquisition Costs
Customer acquisition cost (CAC), is the cost to acquire a customer. To ensure that the digital marketing campaign is successful, the CAC should not exceed the lifetime value of the customer.
CAC is often a function:
- Marketing mix variables are the elements that make up an advertising campaign.
- The marketing mix variables with their respective weights
This isn’t about increasing the number of people visiting your site or downloading your app. It’s all about how much money each visitor is spending. This will depend on their behavior after they visit your website or download your app. If someone downloads an application but doesn’t use it, it could be a waste of money. They won’t convert to customers anyway unless they re-downloaded it later.