The coronavirus pandemic is still out there, and given the way that it continues to push businesses towards online platforms, the digital adoption rate (as of April 2020) in the US by consumers and businesses — which is following the same trend globally as well — has accelerated five years ahead in a span of eight weeks. Looking ahead, will these consumers and businesses revert to their analog ways? And with this in consideration, the demand for digital marketing and SEO services is likely to expand.
As a business owner, it helps to be several steps ahead of the competition and plan early. The biggest space available at the moment is online, and any business should be located at the right place/s; which pages or social media platforms does your target audience frequent the most?
Data is the key to knowing if your digital marketing campaign is successful. It is significant for the business to to collect, store, interpret, and analyze the relevant data. Digital marketing enables many businesses to realize the importance of data in creating a strategy that fits their respective brands. Remember that having an online food pick-up store today can be just as effective as owning an actual dine-in restaurant. Use the data, such as local searches for ready-to-eat food, to help you deliver your home-cooked meals to these homes.
For the many businesses looking to succeed and build their brand, digital marketing is an available option that can only be much more impactful today, as it furthers and grows alongside the tech and innovation industry. That being said, how can a business determine if their digital marketing campaign is succeeding? What are the ways for us to tell that a strategy is effective?
Knowing What Your Metrics Should Be
As a digital marketer, knowing what to do with the countless sheets of data in your hands can be the difference-maker in formulating an effective digital marketing strategy–one that will lead the goal setting, progress monitoring, and fulfillment of your campaigns. Take note of the following questions, as example:
- Do you know how much (in percentages) of the total number of deliverables were within SLA in the last two years?
- Can we take that figure and compare it to the percentage at this same time, last year? What about in the last six months, as well? Is there a correlation?
- Also, which parts of the process should we be looking at if we wanted to deliver at a higher rate within SLA?
As a business owner, would you agree that knowing these numbers can help make a difference in your strategy? For these numbers to make an actual impact, you should know what are the metrics to look at. Below are three factors that help determine the success of your digital marketing campaign:
1.) Look at your website traffic and know where these visits are coming from.
While a business may have a suite of digital marketing strategies implemented; such as one for social media management to increase engagement (subs, likes and comments), to get links on several other sites, or to boost email marketing responses, at the end of the day, these will all lead to the business website. Google Analytics can help you discover whether the traffic of your website is coming from organic searches, direct visitors to your site, referrals such as hyperlinks, and/or social media platforms. This means that it will be of advantage if we were to measure and track our daily website traffic. It’s one way to check on the campaign’s progress, and it also allows us to focus on areas that we want to improve.
2.) Conversion rate brings meaning to the buyer’s journey.
As a business owner, this means that all the traffic your website is getting is only truly valuable if they are converting into customers. Every download/purchase, sign-up, or subscription is a manifestation of an effective digital marketing strategy. “It works,” is what the sales guy would say
3.) The click-through rate (CTR) can be representative of the type of content that is either on-point, or one that just simply resonates.
Especially in email marketing and paid ads campaigns, the CTR is more than just a fancy tech acronym, as it empowers and drives conversions. This affects your campaign’s relevance score and can also impact your cost per click (CPC), which is also tied to your marketing budget. Hitting these campaign fulfillment targets within a specified time frame, such as a billing cycle, can also be a sign that your digital marketing strategy is effective.
New Age Digital: Transforming Data Into Effective Conversion Strategies As a business owner, the top-to-bottom awareness of your website’s overall traffic and where its sources are is one factor in gauging the effectiveness of a digital marketing campaign. But is that the only way to guarantee effectiveness? What are we truly looking at here? Others can argue that the value of success can only be seen in the amount of conversions, measured by the conversion rate. However, one can also refer to the CTR, as another possible metric in measuring the efficacy of other digital marketing strategies. How can we then quantify and qualify the success of a digital marketing campaign? Through the effective use of data and a thorough understanding of the client’s business and brand, framed within the context of the buyer’s journey, we aim to deliver.
New Age Digital enables businesses to focus on hitting their goals and succeeding, as we take care of their digital marketing needs. Let’s make it happen today.