While revenue is the primary KPI for any marketing department, digital marketing is more nuanced and complicated. Many companies overlook monitoring their campaigns, leading to wasted budgets. To be successful, digital marketing campaigns should increase leads, boost brand awareness, and generate sales. The success of these goals can be measured using several metrics, which should be chosen based on your defined digital marketing goals. 

This guide will dive into the key marketing metrics and KPIs to monitor digital marketing performance. Knowing how to measure the performance of your digital marketing strategy is crucial for improving your efforts and achieving your desired results.

What are digital marketing metrics?

Digital marketing metrics serve as the KPIs for measuring the success of a business’s online marketing efforts. By tracking consumer interactions through websites and social media, businesses can analyse their strategies and customise their approach for increased brand awareness and customer growth. Marketers can also use these metrics to identify successful campaign methods and steer clear of ineffective strategies. Quantifiable marketing KPIs such as increasing organic web traffic, marketing-qualified leads, and reducing the CAC Payback Period can help measure the effectiveness of digital marketing campaigns. Once KPIs are set, marketers must strategise and track relevant metrics to achieve their targets. While marketing metrics vary by platform, marketers must choose the ones that will track their successes and failures and focus on what truly matters for each campaign.

What is the importance of marketing metrics? 

According to a Google study, strategic metrics like gross revenue, market share, or CLV are used by 89% of leading marketers to measure the effectiveness of their campaigns. Using metrics helps with data-driven decision-making, channel optimisation, justifying marketing spend, and increasing ROI. Despite sales cycles taking months or even years, recent research shows that 77% of marketers measure ROI within the first month of launching a campaign. To address this, marketing teams need to establish KPIs to act as goalposts using three key elements: 

• measurable metric
• target
• timeline. 

KPIs help digital marketers to hone in on where and how to maximise lead conversions and to demonstrate the value of the department to the entire company.

Key marketing metrics to measure your digital campaigns 

While not all digital marketing KPIs may be relevant to your business goals, they serve as a starting point in determining your ROI. We’ve compiled a list of the most important digital marketing KPIs that you need to consider. With explanations provided, you can customise your own portfolio of high-impact marketing metrics to measure the success of your future campaigns.

1. Overall Website Traffic. The foundation of your digital marketing activities is your website traffic. Monitoring website traffic daily offers valuable insight into the performance of your campaigns. By troubleshooting your website for issues like broken links, duplicate content, or missing metadata, you can optimise its functionality and ultimately drive more traffic.
2. Traffic by Source. Knowing where your traffic comes from helps you understand which parts of your digital marketing strategy are effective and which need improvement. Tracking traffic by source, such as organic search, direct visitors, referrals, or social, allows you to focus resources on low-performance campaigns and make informed decisions about their value.
3. New Visitors vs. Returning Visitors. This KPI helps determine the effectiveness of your content in attracting new visitors and retaining existing ones. The rate of new visitors can guide you in finding new ways to boost organic traffic, while the rate of returning visitors indicates the overall quality of your content and its ability to engage users.
4. Sessions. Sessions represent the number of visits your website receives, with each session having a 30-minute time frame. Tracking the number of unique sessions can provide insight into user engagement and the success of your digital marketing efforts.
5. Average Session Duration. This metric indicates the amount of time visitors spend on your website. Depending on the niche and functionality of your site, this may vary in relevance. Factors that influence average session duration include navigational capabilities, website structure and layout, and the quality of content.
6. Page Views. Monitoring the number of visits each of your web pages receives within a specific time frame can help you determine the real-time value of your website. High page views indicate a successful digital marketing strategy and engaging content.
7. Most Visited Pages. Identifying your most visited pages can help you uncover ways to improve the rest of your site by replicating the engaging elements from these pages. Use heat maps and other indicators to analyse which parts of these pages hold visitors’ attention.
8. Exit Rate. The Exit Rate metric shows where users were on your site before leaving, helping you analyse potential flaws in your web design or user experience. Unlike the Bounce Rate, this indicator focuses on visitors who spend time on a page before exiting.
9. Bounce Rate. The Bounce Rate measures the number of visitors who leave your site instantly. By monitoring this metric, you can improve the overall quality of your landing pages, especially for SEO or paid advertising campaigns. Reducing bounce rate can be achieved by improving page loading speed, optimising images, and creating engaging calls to action.
10. Conversion Rate. The final step in measuring the effectiveness of your digital marketing solutions is tracking the conversion rate, which reveals how well you’re turning visitors into customers. No amount of quality content or paid ads will matter if people leave your site without taking action.

In addition to the above key metrics, consider tracking external KPIs such as Impressions, Social Reach, Social Engagement, Email Open Rate, Click-Through Rate, Cost Per Click, Cost Per Conversion, Cost Per Acquisition, and Overall ROI to gain a comprehensive understanding of your digital marketing success.

Maximise your digital marketing impact

Effective digital marketing is essential for businesses looking to increase leads, sales, and brand awareness. To ensure your efforts are successful, regularly check important metrics and compare them to your marketing goals. Working with a digital marketing agency like Creativ Digital can help you develop a multi-faceted marketing plan and monitor the right metrics to ensure success. Measuring your digital marketing strategies is vital to determine what methods are working and which aren’t. With the right approach, you can generate recurring revenue for your business. Contact our team to discuss your marketing activities today!

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However, unlike giant corporations, start-up companies do not have the luxury of investing too much in advertisements and promotional gigs to market their products in one go. The tight budget is mainly the reason for it, but luckily, there are still ways to promote affordably.

Digital Marketing Strategies for a Low Budget

Here are five effective yet cheap digital marketing strategies you can invest in if you have a low budget:

Search Engine Optimisation (SEO)

Search engine optimisation (SEO) is all about making your business’ website appear higher in search engine page rankings. It can be done through various keyword inclusions, hashtag research, and indexing. Basically, the higher your rank is, the higher your chance of converting these visitors into customers. 

Nowadays, this form of business blogging is one of the most utilised digital marketing strategies to increase online visibility and traffic. Since it is relatively cheap to conduct, business owners turn to content writing and blog posts to optimise their sites while simultaneously educating users on various topics. 

Google Business Profile

Did you notice when you searched for a brand, product, or service, the top results showed the one nearest to your area? This is what Google Business Profile does—it customises the establishments you look for according to your current location and appears on Google Maps. 

Utilising this feature on the most used search engine in the world for digital marketing can do wonders for your small business. It is free and effective. By simply creating your Google Business Profile, your establishment can be easily searched and known to digital users. Furthermore, this method is also an example of local SEO, where you increase your company’s online visibility in your locale.

Social Media Marketing

Social media has become a part of our daily lives, and at some point, we are all signed up for a platform to fulfill our personal and work-related commitments. With the prominence of social media right now, it instantly becomes a great marketing strategy to maximise when you are on a budget. 

In this type of digital marketing, you do not need to worry about gaining an audience because these platforms already have regular users. The real work lies in determining which audience you should target and what digital platform (Facebook, Instagram, Twitter, or Tiktok) is the best for your target audience. 

Furthermore, another rising strategy under this is influencer collaboration. With their popularity, influencers are seen as trustworthy recommenders of products by their followers because they have a specific niche that will inspire their content. In their audience’s eyes, they are real and unbiased.

Video Marketing

Videos have become an essential tool for creating content on the Internet. Since the start of digital marketing, videos have been made to promote brands, tell stories, or provide testimonies about products that would resonate with the viewers. It is a low-cost marketing tool with a high return of results. When you incorporate emotional storytelling or a straightforward description into your video promotions, as long as it is appealing, high conversions await your small business. 

Email Marketing

Email is one of the first methods of communicating via the Internet. It may seem primitive, but it still penetrates the digital world effectively. With the high number of professionals checking their emails daily, this strategy is the key in delivering cost-effective marketing messages. 

Newsletter is a known form of email marketing. It can cover updates about your business, product announcements, or anything related to your offerings that will serve useful to your readers. This type of digital marketing is not only cheap but also permission-based, as the receivers of the newsletter will only be the ones who willingly signed up. 

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With these increasing numbers, along with the evolving trends on the Internet and technology, the business world saw this as an opportunity to boost sales and increase prominence. It paved the way for brands and their marketing teams to shift digitally and adapt to these changes. New marketing strategies targeted for digital and online media have since then been formulated to cater to the growing potential customers.

How to Create a Digital Marketing Strategy

Grab the chance to improve your brand by maximizing this trend. Here are five tips on how you can create a great digital marketing strategy: 

Identify your target market

One factor of a successful digital marketing strategy is knowing who to target. The Internet is a broad space, and all age groups, lifestyles, and communities are present. Studying, analysing, and knowing the recipient of your strategy will allow your campaign to be received positively and can effectively increase sales, awareness, and reach. 

When targeting a specific market for your brand, it is better to research their interests, personas, income, etc., for alignment with your strategies. In that way, the marketing methods and mobile website design layout that you will formulate will resonate with them.

Know your competitors

Your company is not the only one available in the industry. Several businesses are also running on the same track as you are, and it is your job to stand out among them. One way of doing so is conducting a competitor analysis to understand your similarities, differences, and edge against them. You may have the same products or offer the same services, but customers will always know the distinction. It is pivotal in an effective marketing strategy because it allows your company to reflect on what it can contribute to your market uniquely. 

Determine your platforms 

The evolving trend of digital media entails the constant emergence of different platforms. While this means victory in sales and revenue, it can also mean unfit marketing strategies that would result in wasted opportunities, money, and effort. The platforms, such as Facebook, Instagram, LinkedIn, and Tiktok, have different segmentations and metrics, so it is better to focus on one platform at a time to successfully penetrate the market and closely monitor if your applied strategy works with the target platform and audience.

Stick with your branding 

An excellent way to distinguish your brand is consistent branding. It will serve as your identity and overall aura to the consumers, which will help you be remembered and rightfully positioned in the market. Additionally, it is also beneficial for your marketing strategies as it will always be aligned with the campaign’s content, publication materials, and even mobile website designs. A consistent layout of your brand persona will help you decipher what target market you are leaning towards. 

Establish your goals

What is a digital campaign strategy without a goal? Setting one is a great determinant if your campaign has achieved its cause–its “why”. In that way, you will be able to set your projections and find out whether it is working or not. Results shown in your formulated strategy will allow you to review and analyse what was excelling, lacking, and needs improvement for future utilisation. 

However, keep it realistic all the time. The goals you have set should be aligned with your budget, platform, and nature to deem it reviewable or not. 

Conclusion 

Creating a digital marketing strategy is a daunting task. However, it is an essential component of digital success since without one, you would be unable to track your marketing results or determine where and how to enhance your efforts. Consider how to implement your next digital marketing strategy before developing it. The decision mostly depends on your campaign’s objective: whether your business wants to raise awareness, provide consumers with thorough information about its products, directly persuade them to buy, or simply engage them. This will enable you to track your progress and achieve success. If you need help in putting together a marketing strategy on your own and want to engage an expert team, contact Creativ Digital to get started.

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The good news is that Australia has been successful in keeping COVID-19 numbers down and has become the catalyst for change especially when it comes to how we do business. Here are some of the digital lessons we learned from 2020.

Thrive or Survive

With so many of us having to work from home this year, apps like Zoom, Slack, Webex and Microsoft Teams have seen a surge in market share. Zoom for example saw a 335% growth last year with many teams and companies shifting from working at the office to working at home.

Many industries and companies also realized that working from home was possible and doable. In Australia, telecommuting is on the rise with over 40% of the workforce now considered as “mobile” workers.

This is not to say that all industries were unaffected by the lockdowns Australia had to impose. The tourism industry for instance suffered greatly due to the pandemic. Qantas recorded a $2 billion loss last year. Restrictions for the hospitality industry also had a big impact on Australia’s economy with many venues, restaurants and pubs reducing capacity and adapting to digital ordering systems to lessen physical contact.

Contactless payment, social distancing and sanitizing are now considered as the “new normal”. Businesses inside and outside Australia has had to adapt to this new way of doing business.

Ecommerce Had To Adapt Or Die

The pandemic has accelerated many trends. Aside from working from home, ecommerce also experienced a big boost due to COVID-19 with many sellers turning to online platforms in order to continue business despite lockdowns.

Amazon for instance had perhaps one of the best years in terms of sales. It is projected that the company will do $52B in gross merchandise volume by 2023 and more businesses are following in their footsteps.

With more companies doubling efforts to shift businesses to ecommerce, companies also had to readjust marketing values in order to accommodate the message of the pandemic. The Dove campaign below is a good example of how brands have become conscious of their messaging and sensitive towards COVID-19.

Traditional brick and mortar stores will continue to struggle in 2021 without an ecommerce counterpart to pick up the slack. Those who adopt late will need to be creative in their marketing tactics in order to standout.

Contactless Options

During the first lockdown, businesses in Australia had to adapt to contactless form of business in order to stop the spread of the virus. UberEats, Menulog and Dominoes advertised a no-contact delivery option wherein customers can select whether they wanted their food delivered and left at the front door so that both parties can practice social distancing.

Supermarkets also went with contactless options and customers can have options like shopping on line and then picking it up curbside, having scheduled shopping hours for seniors and other members of the vulnerable population or ordering online and having it delivered at your doorstep.

The Australian government also had to rethink services and launched an expanded Medicare-subsidized health service so that consultations, referrals and prescriptions can be done through online channels.

Tech Jobs On The Rise

This shift to digital has increased the demand for tech jobs. According to LinkedIn, “software engineer” was the leading search term for April 2020.

R&D tax incentives in the budget were also revealed by the Federal Government with Treasurer Josh Frydenberg calling research and development and the adoption of digital technology “critical to Australia’s future prosperity”. $2 billion is being committed RDTI scheme.

The rapid growth of IT, fintech and platforms saw rapid growth in the pandemic which is seen to continue on after it has passed. This means that tech jobs will be in demand as it is important for business owners to understand the role of technology in growing their business. With government backing up incentives for R&D, companies need to take advantage of this opportunity starting this year.

Bottom Line

Businesses will continue to face challenges in the coming year. Even with news of vaccinations in many countries across the world, flexibility, innovation and resilience is important for businesses to prosper during and after a pandemic.

2020 has clearly been a turning point in history. Many companies have realized that they need to build the competencies the wished that they have invested in before. R&D, digitalization and a more data driven business can help businesses weather pandemics and other challenges to come.

The post Digital Lessons From 2020 appeared first on Creativ Digital.

The good news is that there are many strategies available out there. A combination of these strategies plus consistency can help boost traffic and improve website rankings in search engines. If you’re not afraid to try new digital marketing strategies or if you’re simply looking for new ones, you’ve come to the right place.

Switch From Outbound to Content Marketing

In the old days, marketers usually highlighted products and services through their features and capabilities. Nowadays, you also need to add value to your brand and you can do this by teaching customers. Not only will this help establish you as a thought leader, it will also add credibility to your brand and make customers believe what you’re selling.

Many marketers and companies find the thought of changing to an inbound format risky. How will people know what you’re offering? How do you sell or generate leads without mentioning the product? Content marketing is scary to adopt at first because it relies on expertise and puts the ball in your customer’s court.

However, content marketing is shown to drive more leads and sales compared to outbound marketing. According to DemandMetric.com, content marketing generates as much as 3 times more leads compared to outbound marketing.

Interactive Content

As content marketing rises in popularity, it can become difficult for consumers to sift through the clutter. Even though we know how to differentiate ourselves from our competitors, it is intimidating to make our content more exciting and interactive.

Interactive content can help generate attention to your message and increase engagement in social media sites. Good examples include ROI calculators, infographics and quizzes that can help tell your brand’s story in a more dramatic and attention grabbing fashion.

Interactive and fun content can also draw attention to your blogs, helping you extend your reach and build your customer base.

Embrace Up-And-Coming Social Media Channels

Facebook, Twitter and LinkedIn will always have special places in our hearts because they help us reach customers and prospects in new ways. In this connection, new social media sites can help you explore new ways of reaching customers.

New social media channels can also give you a platform to experiment with interactive content as mentioned above.

Develop Content For People Not Algorithms

Marketers have gotten into the habit of developing content that will propel them on top of search engine rankings. These days you have to think outside the box and think of what your reader needs. You have to think about their desires, worries and questions that they want answered.

Creating content that will be seen by thousands of eyes is no longer enough to differentiate yourself from the hundreds of others that are doing the same thing. Readers today want real ideas that are well written that display interesting ideas and thoughts.

While SEO is still very important, you should think about your readers first and search engines second. Instead of using keywords to rank on search engines, use them to highlight reader’s pain points and drawing readers in by providing information that they need.

Reuse And Repurpose Old Content

It is normal for readers or customers not to see your content immediately. In fact, it can take multiple blogs, channels and a lot of effort before they see your content. This means that you need to repost your most popular blogs with new titles and images.

You can reuse old content from blogs and turn them into newsletters or vice versa. There are also automation tools that let you reuse and repurpose content automatically so that you can attract new audience.

Trying out something new can be scary but exciting at the same time. Marketers, writers and even experts can get stuck on doing the same thing over and over again. Taking small steps by tying something new can help you find better and more effective digital marketing strategies that work for your business.

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