Online metrics are measurements of different behaviors of consumers. This is a way to draw conclusions about the actions of the audience. These are mostly used to improve the overall account and focus on certain parts. Some metrics are rather simple, and every person should understand and reflect on them.
Some metrics are more technical and should be regularly monitored by a digital marketer. As a digital marketer, this kind of data analysis is a part of your role.
7 Core Digital Marketing Metrics
Let’s discuss the seven core metrics that every marketer should know. These metrics cover different aspects of digital marketing.
So, try to incorporate all these digital marketing metrics into your regular planning.
1. Website Traffic Analysis
Almost all businesses and brands have a website now. These websites include information about the brand and showcase product catalogs. Website traffic metric allows you to understand the traffic that is generated towards your website. Through this, you can analyze the content posted on your website, the design of the website, and its usability.
2. Traffic Source Analysis
Once you have established that there is incoming traffic on your webpage, you must inquire about the source of the traffic. The source of the traffic is one of the important web analytics and digital marketing metrics. This is essential in cases of multiple marketing channels.
There might be promotions on Facebook, Twitter, Instagram, etc. By understanding the source of the traffic, you get to assess the results of your different campaigns. You must analyze different campaigns against each other and move with the best one ahead.
3. Customer Engagement Metrics
There are different ways to understand and analyze customer engagement. You can track different digital marketing metrics like activity time, the time between purchases, core user actions, and bounce rates.
Website visitor tracking will help you understand the points of interest and disinterest from the user’s point of view. This way, you will be able to improve your website and your marketing strategy. Behavioral analytics tools like WatchThemLive might come in handy when you want to increase website visitors.
4. Customer Retention Rate
Retention means keeping, so CRR is basically a rate showing the customers that you are able to keep your brand/services. It is more expensive to bring back old customers than get new customers. So, it is quite essential to keep track of this metric.
If ever CRR is at critical levels, then you have to rethink your marketing strategy to retain those consumers. Visitor tracking provides you with knowledge of your customers. Here, you can learn more about how to refine your online presence and marketing strategy.
5. Conversion Rate
Conversion refers to converting the user into your own consumer. If a user fulfills a CTA, this means that he or she is converted. This can be different depending on your content.
It can be a sale, a subscription, or a sign-up. Use funnel analysis to understand users’ interactions. The conversion rate is simple to read, and it is very important to know the ground reality of your campaigns.
6. Cost Per Click
Cost Per Click is one of the most important digital marketing metrics. If you have used ads for deriving traffic, then you have to track CPC – Cost Per Click. This metric shows how much it is costing you to run your ads.
This is a charged basis for every single click. It is important to keep track of your budget and spending. If CPC is too high, then you, as a marketer, have to find out different ways to boost the campaign. Another metric here is CPA.
7. Cost Per Action
There is an action in the end for the user – that is also noted by the conversion rate. This action might also cost you some amount of money. So, CPA assesses the cost incurred per action completed.
These digital marketing metrics are quite useful in boosting the growth of your business and smartly allocating your budget. It is crucial to consistently check these digital marketing metrics from time to time.
You must explore Google Analytics or opt for a third party that will show your analytics in a more structured format.