In previous blog posts, we’ve covered various topics relating to measurement and analytics in digital marketing. In this final blog post, we will discuss six key performance indicators (KPIs) that you can use to assess your online marketing efforts.
The first and most obvious KPI is traffic. Simply put, we can’t have effective marketing without any traffic at all. Having said that, the type of traffic you get from different channels will determine the success of your marketing program. If you’re getting organic traffic and not a lot of traffic from paid channels, you may want to re-evaluate your strategy and approach. On the other hand, if you’re getting a lot of traffic from paid channels, you’re most likely on the right track.
According to HubSpot Blogs research, 62% of business owners cite generating quality traffic as their top marketing priority. Considering that 80% of businesses consider marketing to be vitally important, it’s evident that traffic is something that most businesses are struggling with.
Apart from traffic, the next KPI we need to cover is conversions. As the name suggests, this KPI is the measure of how effective your marketing strategy is in converting visitors into buyers. To achieve growth, you need to focus on increasing the number of conversions on your website. The good news is that if you’re marketing to the right audience and using the right channels, this number should be on the rise.
According to HubSpot Blogs research, 46% of business owners cite achieving conversions as their top marketing priority. For a long time, achieving conversions was thought of as a difficult task, something that was only reserved for the big spenders in digital marketing. Thanks to increased automation and the evolution of digital marketing tools, having a solid conversion rate is now within the reach of any business, regardless of size.
If you’re a business owner looking to expand your reach and drive more sales, you may want to consider using an online marketer to implement a marketing program designed to grow your business.
This is especially beneficial to businesses that are unable to spend a lot of money on advertising, something that corporate budgets remain tight on as 66% of businesses are operating within a stagnant or declining marketplace. For these businesses, using an online marketer to help implement marketing automation is a cost-effective and efficient solution.
However, if your goal is to simply generate enough revenue to cover your monthly costs, you may want to consider investing in lead generation, email marketing, and performance marketing instead.
When we talk about digital marketing, revenue is always a key consideration. After all, you’re focusing on generating as much income as possible from online marketing. To that end, you need to consider what’s important to you and your business, then develop a strategy to achieve those goals. There are many ways to increase your revenue online, so find what’s most effective for you and your budget.
Last but not least, we have user behavior. Like many other areas of digital marketing, user behavior is a combination of psychology and technology. The goal is to get people to engage with your content, and do what you want them to do. This is where marketing analytics comes into play. User behavior analytics refers to the collection, analysis, and interpretation of data about consumers’ activity on a website or social media platform. Essentially, this is a way of measuring how effective your marketing strategy is in converting visitors into customers. It also provides you with valuable information about the quality of those leads.
To learn more, you can read the HubSpot Blogs research on user behavior or visit the HubSpot Blogs to get inspired and learn more.
Once you’ve got your KPIs set, you need to consider how to measure success. Do you want to see increased sales? How about getting more leads? Or, do you want to focus on retaining those leads and turning them into paying customers?
Each of these goals has a metric that you can use to track your progress. For example, you can use Google Analytics to track the performance of your website. Or, if you’re looking for more leads, you can use HubSpot to track the performance of your marketing campaign. Of course, you’ll need to adjust your strategy and approach based on which KPI you’ve chosen as your primary goal.
For an extended version of this blog post with additional tips on how to use the KPIs discussed here, visit the HubSpot Blogs.