Do you measure the effectiveness of your digital marketing campaigns?
How much does it cost to acquire a new customer?
What was the ROI on that Google Ads campaign you launched in March?
If you cannot answer these questions, it is time to rethink your approach to digital marketing.
Without auditing digital marketing campaigns, you do not know whether they resonate with your target audience and generate high ROI.
In this article, you will learn the basics of evaluating digital marketing campaigns.
Start with a Measurable Goal
You cannot measure marketing success without having achievable, measurable, and time-bound goals. By setting specific goals, you have something to strive for. Based on your marketing objectives, you choose marketing tactics and pick the right metrics to measure.
When setting goals for your digital marketing campaigns, you need to:
- Whether your campaign lasts for ten days or six months, always specify a time frame. That way, you can measure whether your marketing efforts are meeting the goals you have set. It is also effective for comparing marketing reports to measure your month-over-month or year-over-year marketing progress.
- Set your success factors. They depend on your audience and the goals you want to achieve. For example, say you want to gain 300,000 impressions on social and drive 15,000 new visitors to your website. Always align your KPIs with your time frame. For example, how much time do you need to reach the milestone?
Choose your Digital Marketing Analytics Tools
To compile your digital marketing data, you need to invest in the right digital marketing analytics toolkit.
Start by tracking your website presence via Google Analytics. With a tracking code automatically tagged to your website pages, this platform monitors the performance of your marketing campaigns in real-time.
Google Analytics can even help you measure the effectiveness of traditional marketing campaigns, such as large format printing or direct mail. By adding a QR code to your print materials and linking it with your dedicated landing pages, you can track them via GA.
Some other tools you may want to use are:
- Event-based tools, such as KissMetrics, track actions that users are performing on your site.
- Search engine analytics tools, such as Moz or SEMrush, assess your traffic from search engines. They also offer data on your search results, analyze links, and offer keyword suggestions.
- Marketing dashboards, such as Klipfolio, integrate with a wide range of digital marketing tools. That way, they bring together your most important metrics and let you track them from a central location.
Set the Right Metrics to Track
There are endless digital marketing metrics you can track. The choice of metrics depends on many factors, such as your campaign goals and the digital channels you use, your KPIs. That is why you need to choose the metrics that align with your digital marketing objectives. Only that way can you measure the effectiveness of your campaigns.
For example, you can start by measuring your website analytics, such as your site conversions, traffic by source, the average session duration, the bounce rate, and new vs. returning visitors. These metrics tell you more about website conversions, engagement, and relevance. For example, high website traffic means nothing if your bounce rates are high and your average session duration is low.
Some other metrics you may want to track include:
- social reach – how many people your campaign reached
- email open rates – the number of people who open your email vs. the overall number of those who received it
- overall campaign ROI – how much you spend on marketing vs. how much you earned
- PPC cost per click – how much you pay for each click on your ads
- CTR – the ratio of users who click on a specific link to the number of total users who view it
- cost per acquisition – the aggregate cost to acquire one customer
When choosing digital marketing metrics, try not to get overwhelmed. Many businesses focus on vanity metrics that make them feel good without actually telling them anything about their campaign performance. Measuring social media likes or shares, for example, means nothing if users do not visit your website and take action.
Evaluating Digital Campaigns Does Not Have to Be Daunting
In digital marketing, there is no room for guesswork. To maximize the effectiveness of your online marketing efforts, you need to evaluate them regularly. Start by choosing the right marketing analytics tools, setting clear objectives, and aligning them with the right metrics.
How do you measure your digital marketing campaigns?
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