If you have been an avid follower of the 'Big Data Revolution' and your company has been involved in a lot of digital/online Marketing, it is inevitable you have been tracking some metrics to gain some traction. The typical metrics tracked are Sales Revenue, Leads, and Cost-per-Acquisition. But there are a few other metrics that should be tracked if you wish to have a more successful marketing campaign.
If you are looking to create strong, loyal relationships with your customers, Inbound Marketing is the way to go. Not only can it help you keep in contact with leads, but it also helps reduce churn and expand your customers lifetime value. Some examples of Inbound Marketing include: creating premium content, maintaining an up-to-date blog, creating infographics, and of course, being engaging with your followers on Social Media sites. Another example not mentioned but also effective is Closed Loop Reporting, which involves measuring the effectiveness of a particular ad on the web by tracking which ad viewers went on to buy the product, request a catalog, or took specific actions on the website.
As mentioned before, value can be created through Inbound Marketing. It not only can help you keep in touch with leads, but also help reduce churning and expand your customers lifetime value. No matter what marketing activity your company is using, your ROI will determine the future with that activity. Leading nurturing campaigns can help reach out to existing customers, giving your sales team the chance to inform them about new services, products and resources.
Landing Page Conversion Rates
It is important that your landing page catches the consumer's eye. It will enable your company to see how many people are visiting each landing page and identify how many of those visitors are completing your lead capture forms. Content acts as the primary factor that will drive landing page conversion rates. If your landing pages are not generating conversion rates around 10-20% you might want to reconsider what content you post, as well as edit out what isn't gaining good traction.
Social Media Reach
At the moment, this is a vital metric to be tracked. The senior management team can be presented with the full value that Social Media brings through the growth and engagement of your Social Media profiles. The metrics worth following here are:
-# of lead conversions assisted by each SM Channel -# conversions generated by each SM Channel -% of traffic associated with each SM Channel
Mobile Traffic Leads & Conversion Rate
This relates to your landing page's accessibility on mobile. It is worth noting the increasing number of people using tablets and mobile devices to access the web and this number is set to surpass PC activity in the coming years. Therefore, a few metrics can be tracked in order to see how effective your mobile presence is. These are:
-lead conversions -bounce rates -mobile optimized landing pages
These metrics are just some of many others that can help you make better decisions on what KPI's to track for your business. Given the dramatic changes seen in digital marketing over the years, it is worth optimizing your KPI's now before it's too late!