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Digital Marketing KPIs & Metrics To Measure Success
As digital marketing focus continues to rise, Asia Pacific is set to record the fastest rate of ad-spend growth. In Singapore, we’ve observed a shift to digital marketing even from traditional hardware stores and the heavy industry, which were previously reliant on their sales team for sales revenue.
The most common marketing KPIs (key performance indicator) are:
- Sales revenue
- Customer lifetime value
- Marketing ROI (return on investment)
- Conversion Rate, etc.
These KPIs already existed before the Internet. So what’s different today?
The metrics to measure success have evolved with digital technology.
Digital Marketing Data
Data is a huge advantage in digital marketing. In the past, no one could give a definite figure on how many people actually saw your print or OOH (out-of-home) ads; but you can with your online ads, and more.
If you’ve ran a Facebook ad campaign before, you’ll know that not only can you tell how many people saw your ads (reach), you’ll even know their age, gender, etc. You’re able to tell how many times your ads were shown (with no. of impressions), and how many people were interested (with no. of clicks).
If your business goal is an overseas expansion, data collected from your digital marketing campaign could provide insights on how receptive people are of your brand, product, or service.
“95% of leading marketers agree that “to truly matter, marketing analytics’ KPIs must be tied to broader business goals.”
If your business goal is an overseas expansion, data collected from your digital marketing campaign could provide insights on how receptive people are of your brand, product, or service.
Digital Marketing KPIs
Marketers today are challenged with data-driven KPIs as campaigns become more measurable. Some common digital marketing KPIs are:
- Lead Generation
- Social Media Engagement
- Cost-Per-Lead (Customer Acquisition Costs)
- Awareness
If these are familiar to you, then you’re no stranger to digital marketing. You will also scan through multiple reports, analyse metrics, and try to make sense of all that data.
Let’s take a quick overview of what the metrics actually mean.
Digital Marketing Metrics
In a lead generation campaign, you should focus on the ad performance and landing page performance because these are key factors to affect conversions. This is also similar for reducing customer acquisition costs because a high conversion rate would lower cost-per-lead.
In a social media engagement campaign, look at your social media performance to understand what engages your fans/followers. If the engagement is low, consider running ads to boost traffic to your social media page and increase engagement.
In an awareness campaign with a multi-channel approach, keep a close watch on ad performance, landing page performance and social media performance. Good ad and landing page performance would increase budget efficiency to create more awareness. Good social media performance boosts the chance of virality and organic growth
Ad Performance
Includes all ad buys on search engines, display networks, social media, etc.
- Click
- Impression
- Click-Through-Rate (CTR)
- Reach
- Frequency
- Website Traffic Source
Landing Page Performance
Includes website, microsite, landing page, etc.
- Bounce Rate
- Time Spent On Site
- Conversion Rate
- Pages Per Session
Social Media Performance
Includes Facebook, Twitter, LinkedIn, etc.
- Engagement Rate
- Fan/ Follower Growth Rate
- Like-Comment-Shares
- Media Type Performance
- Organic Growth
I hope I’ve shared enough information to help you set the right KPIs for your digital marketing campaign. If you need help and want to discuss more in details, feel free to drop me an email at geraldine@clickrmedia.com.
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