When it comes to owning an online business, success is vague and useless unless quantified. The best way to quantify the success of an online business is to measure the digital marketing metrics. In this article, we will go through the most important digital marketing metrics you must measure in order to assure that your marketing strategy works and that your business is going in the right direction.
The most important metric that determines the success of your website is the overall traffic. The overall traffic on your website refers to the number of users who visit your website. It is measured in visits which are sometimes called "sessions" and it shows how many people engaged with your site in total. This number can also be broken down into different sources, which describes where your traffic comes from. Measuring this metric is of great importance because it lets you see the whole picture and helps you figure out whether your marketing strategy is working properly.
If you're promoting your online business on a bunch of different platforms, you should be able to know where the most of your visitors are coming from and which social media platform is the most useful for you. This website traffic metric will show you exactly that. Basically, it will show you how many visitors are coming to your website through social media, through direct visits, referrals or via organic search. If most of your visitors are coming through organic search, it means that your SEO strategy is effective. If social media is the leading source of visitors, you will be able to break down which particular platform is driving the most of the traffic. It is best to have a well-balanced number of visitors from each source, so measuring this metric will indicate what you should focus more on.
Tracking both of these metrics together will help you determine how relevant your website is over time. If people are coming back to your site, that's a great indicator that the content you're producing is valuable to your visitors. On the other hand, if your website has a big number of new visitors, it means that you're increasing your brand exposure and your marketing strategy is doing its job. You should aim for both new and returning visitors and optimally, 25 to 50 percent of your total number of visitors should be returning visitors, the rest being new visitors.
This digital marketing metric is solely focused on how much time visitors spend on your website. This helps you understand how well your site performs from a user experience point of view. Measuring this metric can answer a lot of important questions like whether your website is easy to navigate, whether users are finding what they are looking for quickly and if your content is valuable to the visitors. Having a long session duration can be an indicator of poor user experience so it's important to monitor this metric and make sure that your website design is good and not confusing to users.
Bounce rate is the percentage of visitors who visit one page of your website, don't engage in any way and leave the website without taking any action. This metric can be high if the site takes too long to load, the users didn't find immediately what they were looking for, they were not compelled to click on the content they found or an error page loaded. Monitoring this metric can also help you figure out whether you are using the right landing page for a campaign. Overall, measuring the bounce rate on your website is useful because a high bounce rate indicates that you need to readjust your marketing campaign.
This marketing metric reveals a lot about your website design and user experience. The exit rate measures the number of people who left the site from a particular page, so it gives a great insight into where the user lost interest after spending some time exploring your website. Having a high exit rate might be because there's distracting content on your website, the load speed is very slow, the user experience is bad or visitors have a hard time navigating your website. Measuring this metric will help you determine whether you need to create better content and fix the design of your website and you will know where the weak points on your website are, so you'll be able to focus on improving them.
Simply explained, a "conversion" is when a simple user visiting your website becomes a paying customer. It also refers to the number of users that take a desired action, such as creating an account, signing up for a trial or filling out a form. Low conversions indicate a bad design or offers that are not interesting enough for your visitors to consider. Measuring this metric helps you figure out which components of your website people are interacting with and whether you have a high quality user experience. If you notice that the conversion rate on your website is low, maybe it's time to invest in a better website design and to work on improving the appeal of your offers.
There are a lot of other digital marketing metrics you might consider measuring, but these 7 are the staple ones that you absolutely must monitor. Tracking these metrics will give you a pretty good overview of how well you're doing and what you need to improve on. If you need help with monitoring these digital marketing metrics, our marketing team is here to help. We can make it easier for you to understand how to monitor these metrics and help you create an effective and successful marketing strategy. Contact us for more information on this topic.
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