10 Different Digital Marketing KPIs and Metrics
Key Performance Indicator (KPI) is a digital marketing performance measurement(metrics) that is used to evaluate the success of an organization’s marketing procedure, indicating the possible outcomes of operations in its business activities. Before the advent of digitization of the global market, it is very feasible to calculate KPIs using physical inputs such as record keeping or footfall, purchases, etc., compared to a digital space where activities are made by large numbers of unidentified customers across different locations in an almost simultaneous process.
A digital marketing KPI will provide tools that will help you evaluate and monitor your growth success. They give you key presumptions on how your business is performing on variable aspects of your business plan. Successful KPI’s can also be put in place with the help of a reputable seo agency. Some key KPIs to watch out for in your digital marketing include the following;
Numbers of new users
This is the number of first-time visitors to your website within a specified period. This metric can be regulated to indicate the number of visitors per week, month or day. The benefit of this indicator is to allow you have an idea of the numbers of visitors to your site where you can make inference whether to increase your marketing campaign strategies to meet the targeted numbers of users.
Numbers of returning users
A returning user is someone who has visited your site in the past through a device and has returned. This metric can infer that there is a particular aspect of your content that made users revisit your site.
Navigation path
The path people navigate through the pages of your website is their navigation path. It can also be called the browsing history of users on your site. A high KPI on the numbers of navigation to a particular page will help your draw conclusion on how attractive is the content of that page. Pages that are less navigated can thus be rebranded to improve its functions in your website. Navigation path can also help you minimize the numbers of clicks that lead users to your page where you have your call-to-action buttons.
Session
This is the time (in minutes or seconds) a visitor spent on your site. Care must be taken in making conclusions as a longer stay on pages on your site may not necessarily mean that users are engaged in active interactions on your site. There is the possibility that the user left open the window while attending to other issues.
Bounce rate
The bounce rate is another metric measured by the rate at which users leave your site’s main page immediately they land on your website without any further navigation. A higher bounce rate indicates either; they didn’t get what they are looking for on your page, or your page wasn’t user-friendly. This is a critical metric which market campaign team should take seriously due to the fact that a ‘Bounced’ User may not be a Returning User. Thus such customer can never be converted into a prospective customer.
Social media reach and interactions
Social media is a vital digital marketing campaign tool that is used to gain followers to your website. Billions of subscribers are users of at least five different types of social media platforms. These platforms serve as a means of outreach to people. The numbers of ‘likes’ or star-rating for your pictures, views, articles, ads shared on social media will show how people will like to visit your website when you paste your URL along with your textual or multimedia adverts.
Social media apps and websites are now designed to allow you to see how many people navigated from your linked apps or social media handles to your website. The more ‘likes‘ you get, the more impact you are making in giving your followers what they want to see. It gives you a positive result in taking the right procedure towards converting them into purchasing customers. If your posts generate more comments about your content, it shows how interactive and impactful your campaign outreach is yielding. Or how well branded are your contents. Social media comments are an avenue for feedback from your followers and serve as a lead to your web page where certain questions on their minds can be answered.
The numbers of shares and #tags you get from Twitter and Instagram pages indicate your content’s recognition and can save you cost for more adverts as sharing your posts is a cheap means of advertising done on your behalf.
Newsletter conversion rate
This KPI measures how many users visit your site and sign up for your newsletter. It is beneficial in measuring how many people are willing to get more information about you. A benchmark for email signups will give your awareness campaign team the strategy of deciding what page to place newsletter sign-up forms. Getting visitors to sign up for your newsletters will be helpful to those who don’t have the time to visit websites. Newsletters will thus help as a quick outreach to dormant users in returning to your website.
External website link
These are inbound weblinks directed to any domain usually from an external domain( the source). The higher the external links targeted to your web pages, the higher rating your domain scores in the Search Engine Optimization (SEO) ranking, which is also a metrics used by analytics in scoring your websites discoverability.
Keywords that brought about the link to your site can also be accessed for optimization. An increase in the quality and volume of the external links to your site can also tell you how far your outreach campaign and contents have gained popularity. Comparing the external links targeted at your site to those targeted to your competitor’s sites can be a benchmark to rate how your site ranks with that of your competitors.
Online conversion rate
This is the metric that measures how effective you are converting your online users into purchasing customers with the click of a button. A conversion is a process taken for a user to make a purchase on your website brought about by the following of leads to your landing page. The online conversion rate is measured in percentage.
The estimation from a conversion rate will help you know if your visitors are just viewing your pages and not being converted in making purchases.
A lower percentage will indicate that more awareness campaigns are needed to drive or initiate a follow up on Returning Users to make them clear any doubt during their first visit.
Customer Acquisition Cost (CAC)
This is the cost spent in gaining new customers to your website. It measures the total amount spent in a campaign, and other lead costs per total numbers of new customers, usually within a month.
CAC is calculated as: the sum cost spent to acquire new customers divided by the total numbers of the customers acquired with a month (preferably.) For example, CAC of $247 budgeted for 300 customers per month compared to a CAC of $472 in actual time indicates a deficit on CAC.