Your digital marketing plan likely consists of several different areas and tactics. These may include SEO, PPC, social media, email, and more. Every year when it's time to set budgets, you need to know how much to allocate to each of these areas. So, how do you determine which tactics are bringing in the most revenue? By looking at the ROI and results of each campaign. Don't have those numbers yet? Here's how to measure marketing performance in each of these top four areas.
Two of the biggest metrics to look at when it comes to search engine optimization (SEO) are keyword rankings and website traffic. Take a look at how many keywords you had ranking a month ago, a quarter ago, or a year ago. You can also narrow down to look at how many keywords were ranking on page one compared to now. Typically, the more keywords on page one, the more traffic your website will receive. Take a deeper look here as well. Is the traffic bouncing? How long do they stay on your site? How many pages do they view?
Pay-per-click (PPC) is often the easiest area to measure marketing performance. The top two metrics in PPC are cost (how much you spent on ads) and conversions (how much revenue was generated from those ads). You can use these numbers to determine better ad strategies, or to eliminate ads altogether. Of course, you may look at other metrics depending on what your business goals are.
3. Social Media
Level of engagement is the easiest metric to measure here. Take a look at how many new followers you gain each week, how many likes your posts get, and how many times people are sharing your content to their own followers. If you're producing the content your audience wants to see, these engagement numbers should be relatively high. If not, you may want to consider polling them about what they'd like to see on your social media channels.
Email newsletters may seem outdated, but they are essential for businesses with an online presence. The more subscribers you have, the more likely you are to increase sales. Open and click-through rates are the metrics to look at in email campaigns. Aim for a 20% open rate and a 2% click-through rate, but keep in mind that each industry is different.
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You'll never know or understand your marketing campaign's worth if you don't routinely measure its results. If your numbers aren't where you'd like them to be, or if you'd like help exploring a new area of digital marketing, give us a call today. At L7 Creative, we offer a variety of marketing services that help you achieve your business goals. Find more insightful marketing tips on our blog or contact us today to learn more about how we can work together!