Whether you’re operating a startup or large company, establishing a strong online presence should be one of your top priorities. With all the tools available today, it’d be relatively easy to plan and implement marketing strategies for your business. But those steps are just the beginning. Eventually, you’ll need to assess which of those strategies bring in results and which ones are not.
With a firm assessment of your online marketing efforts, you’ll get an idea if you’re on the right track in terms of reaching your audience. It lets you know whether your hard work is paying off or you need to devise a new plan. So, to help determine if your strategies are working, here are some metrics that you can use.
Traffic
Measuring your site’s total traffic involves looking at the number of page views and unique visitors your site receives over a specific period. The greater the number of unique visitors you get, the higher your chances are of gaining potential clients.
If your objective is to get as many new visitors to the site as possible, check your analytics tool if the percentage of new traffic is showing an increase. But, if you discover that customers typically come back to your site several times before making a purchase, you might want to redesign your campaign and target those people to make them return more often.
Looking into the traffic that your website generates is especially useful in determining if your search engine optimization campaign is a success. If the keywords or phrases you use to generate traffic, then it’s safe to say that your SEO strategy is working. If not, then at least you know you need to make some adjustments.
Conversion
The ultimate goal of an online marketing campaign is to convert traffic into leads. In measuring your site’s conversion rate, you’ll not only know which of your techniques are delivering positive results; you’ll also be able to assess the cost per lead.
Using an analytics tool, you can also track engagement and what people are doing on your website. Their behavior is an excellent basis for coming up with the perfect strategies to get them deeper into your sales funnels.
Revenue
Of course, you’d want to know if your marketing campaign is earning you money and how much of the profit results from your marketing strategies. Whether you’re doing pay-per-click advertising, direct mail marketing, or any online strategy, one way to assess if your efforts are paying off is by measuring the converted leads against your campaign’s cost. It will let you find out if the campaign is being profitable at all or not.
This technique is also useful in determining the source of your highest conversion rates and revenues. You can then focus your efforts on those areas to boost your ROI.
Knowing how to measure the effectiveness of your online marketing campaigns will save you a lot of stress. The above metrics won’t just take the guesswork out of assessing whether your strategies are successful or not. They will also let you adjust or terminate campaigns that aren’t working or further improve those showing positive results.
