Top Digital Marketing Metrics That Measure Efficiency

If you want your business to succeed, you have to be online. Despite the pandemic causing temporary declines, digital ad spending increased 12% to $139.8 billion in 2020. Digital marketing helps companies reach customers looking for information, consuming content, and having conversations.

Businesses might be spending more on digital marketing, but that doesn’t mean they are spending it efficiently.

If you want to get the most return on investment from your marketing dollars, you must track your results. Read on to learn about the top digital marketing metrics you can use to optimize your digital marketing budget.

Top Digital Marketing Metrics to Track

Thanks to technology, we can track countless amounts of data and metrics for digital marketing campaigns. Although you can follow many metrics, it’s easy to get lost in the numbers. So here are the most important digital marketing metrics that all companies should track.

Website Traffic and Reach

Website traffic counts the number of people who visit your website. Reach is the number of people who view an ad or post. These metrics can help you track brand awareness and whether your campaigns get your message across to potential customers.

Traffic by Source

Website traffic can be broken down into sources. These sources will tell you if visitors came from a search engine, another blog, or social media. If you are getting more traffic from a specific source, that is a good sign you should focus more of your efforts on reaching users through that channel.

Bounce and Exit Rates

Bounce rate is the percentage of visitors who leave your site after visiting one page. If users leave after visiting one page, this should tell you there is some disconnect in your marketing strategy, and you need to optimize your landing page. A high bounce rate can also negatively affect your SEO score.

Exit rate will inform you of how many people leave your site from a particular page. If customers exit on a specific page in your conversion funnel, that indicates the page needs to be optimized to continue moving customers down the funnel.

Click-Through Rates

CTR is the number of people who click on a link from an email or digital paid ad to your website. A high CTR illustrates that your copy effectively reaches customers and moves them down your marketing funnel. You can test marketing copy to see what phrases, images, or videos are most effective so you can put more of your marketing dollars behind them.

A better click-through rate can help you manage your digital marketing budget because a high CTR can lower your paid ad costs.

Conversion Rates

Conversion rate is the number of people who complete the final step in your marketing campaign. This action might be to sign up for an email list, send a contact form, or make a purchase. Tracking the conversion rate of your digital marketing campaigns can help you determine what channels and tactics are generating the most leads and sales for your business.

Cost Per Acquisition

You’ll also want to track the cost of conversions and compare this to the revenue you generate per conversion. You don’t want to be paying more to acquire a customer than what you make from gaining that customer. If this is the case, you’ll want to rethink your strategy to determine the best way to attract more customers for less.

How to Track Metrics

Top digital marketing metrics should be tied to the goal of your marketing campaign. If you are trying to generate brand awareness, this will include different marketing metrics than a lead generation campaign.

You’ll want to link your website to Google Analytics and optimize your site to convert customers. You can also track through social media sites and your CRM software.

Digital marketing experts like Beanstalk Web Solutions can help clarify the process and help you transform your website and track metrics. Their guidance will make optimizing your digital marketing strategy stress-free.

Optimize Your Digital Marketing 

Digital marketing isn’t a box to check off or something to set and forget. The digital landscape changes constantly, and you want to keep up with your campaigns’ top digital marketing metrics. Using those metrics to optimize your digital marketing campaigns lets your marketing dollar work smarter, not harder.

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