Digitial marketing makes it easy to track how well you’re doing in your online marketing efforts. The ability to track your numbers and statistics is one of the best things about online marketing.
Companies tend to get caught up in metrics and analytics that do not matter. An example would be Facebook likes, website visitors, fans, views, etc. These are all great but a Facebook like really serves no purpose unless you are getting buyers.
Plus the numbers can be manipulated. I have been paid many times to manipulate the numbers.
This might come as a shock, but digital marketers tend to spin the numbers in their favor. Analytics can be manipulated, views likes, visitors, shares, comments, and reviews can all be purchased.
I see this happen over and over again. It’s all smoke and mirrors.
I don’t want you wasting your time on manipulated data.
So what metrics matter?
I am going to show you.
We will use Google analytics, Facebook, Call Tracking, and email.
Many of these metrics will be familiar to you. Like in Google Analytics, “Bounce Rate” or “Page Views” is pretty simple, as are metrics like “Cost Per Conversion” or “Relevant Score” in Facebook.
All the metrics I am going to show you will matter to your bottom line.
Metrics You Have To Know
1. Cost per conversion: #1 Marketing Online Marketing Metric
Cost per Conversion is and should be your number one metric. How much are you spending to get one customer? If the lifetime value of your customers is $500 and you are spending $1000 to get him, you have problems.
You will be out of business soon.
This simple metric can be found on your analytics.
2. The total number of leads and the cost per lead:
You need to track the total number of leads you are getting each month. Google analytics and Facebook do this for you. The easy way to track this is by setting up a thank you page and creating a conversion in your analytics and Facebook campaign. Every time someone fills out a form on your site, they hit the thank you page, and it triggers a conversion.
Once you know your cost per lead, you can adjust according.
3. The total number of visitors:
When you spend time and money on your website, traffic, and content, you want to make sure it is paying off. Your visitors should increase month over month and year over year.
4. Conversion Rate: Double your conversion rate, double your sales.
Now that you know your total number of leads and your total number of visitors, you have your conversion rate. I love using the conversion rate because it’s an indicator of your messaging.
Landing pages will have a higher conversion rate, but your overall site also has a conversion rate. You should always try to increase your conversion rate by testing your content.
5. Paid search results:
Businesses should run PPC campaigns, but you have to monitor your Cost Per Click, Cost Per Lead, Cost Per Phone Call, & Cost Per Conversion. Google and Bing will spend your money as quickly as you let them.
I also look at the CTR, quality score and my keyword impression share.
6. Most popular content
When you know what people are reading, you should create more of it. Here is a screenshot of what it looks like in data studio.
Online Marketing Reporting.
Most of our clients like getting visual reports with their metrics. With Google Data Studio, you can share all the numbers you need in Real Time.
You create the report once, and it will update automatically. You can also change the dates at any time.
It’s a great system and it is FREE. Say goodbye to all those expensive analytics companies that charge outrageous amounts of money. Data Studio will provide the visual reporting you will need.
Here is what a typical Data Studio Report looks like.
You may be wondering what the big spike is, that is an email blast…:)
Love email blasts!
Google luck. 2018 is going to be a big year. Make sure you know your Online Marketing Metrics. They matter.