Gone are the days, when companies were used to recruit large numbers of marketing professionals to market their product. They had very few options in their hand and that restricted to certain boundaries. They used to market either by giving the advertisement in the local newspapers, distributing the pamphlets or physically knocking each and every door of the city under the extreme heat of the summer, shivering cold during winter or the unending rains of the rainy seasons. But, despite their best efforts, still, the product used to reach a limited number of people.
Then the age of the internet has come with the concept of digital marketing, which provides enormous opportunity to reach a large chunk of the audience in no time and with minimum efforts. Forget about the door to door sales, they can do it from the comfort of their office or home just by clicking some buttons over the
Can that be enough if you simply advertise your product to the masses? Certainly not, you need regular customer inflows to your website to sustain in the business. More visitors to your site has the potential to convert more buyers of your products.
But, how do you increase about the online footfalls? That is certainly a big question. Everyone wants to know the secret, isn’t it?
When you look at the data collected by your search engine, you can find about the number of visitors who visited the site on a regular basis. The search engines can provide you a lot of data on day, weeks, months and yearly basis. But, how can this data be useful to you?
Yes. You can analyze this data to adjust your plan more accurately to get the desired benefit. Let’s have a look at some of the useful metrics that can tell you the performance of your digital marketing plan and the areas that need improvements. And finally, you will know the secret behind the high number of visitor’s inflows.
The Metrics are broadly divided into three categories- Traffic, Conversions, and Revenue`. That is the flow of success, as when you get more traffic, you can convert them to earn more revenue.
Web traffic is the number of hits which comes to your site when the visitors visit it. This data needs a constant monitoring, which can give you a clear indication of your site’s performance.
You need to monitor and track this information to measure how the contents of your site are driving traffic. Nothing wrong if the numbers are growing, but if it is declining then it’s an alarm for you. You need to seriously look at your strategies and plan to improve the flows.
The sources of the traffic can be from various origins. It can be the visitors landed on your site through a search query, or through a referral link. Some traffic may come directly by typing the URL of your site, where other may come through the social media sites. The analysis of the sources provides you the vital information that on which area you need to focus and where to update your plan to boost the traffic. Other factors you need to watch out for is the keywords, identify the keywords which brought the traffic to your site.
While analyzing the data, observe the number of unique visitors and returning visitors. The numb
er of new visitors indicates that they may be interested in the current content of your site and can be converted to potential customers. Similarly, the number of returning customers signifies the usefulness and quality of your content.
The growing number of Smartphone users requires a special consideration in your strategy. You should measure the number of people access your site through the mobile devices. And, according to the data you receive, build and design your mobile-specific strategy, enhance the performance in terms of speed, usability, and other mobile friendly developments.
While looking at the traffic data, another important area that needs a proper analysis is the cost invested per visitor. In the case of paid campaign, you used to spend a certain amount to buy the ad space. By analyzing the number of visitors coming to your site from various sources, you can get the idea of whether you are spending the money on the right channels or need to update your plan.
As we discussed the various metrics to analyze the traffic data, let’s look into the various conversion metrics to analyze the number of visitors who can be converted to the potential customers.
It is important to measure the number of visitors actually converted into lead or sale. Those data gives you the valuable information that whether your site’s performance is acceptable or need modification. The low conversion rate is a warning for you, it indicates that the content, design or the marketing strategy are not up to the standard or becomes outdating.
The interaction of new customers to your site can be different from the returning customers. So, it is important to track the conversion rates for both types of customer. The information can be used to reduce the bounce rate and increase the returning visitor’s rate.
It is important to access your net income and profit margins periodically to measure the success of your business. So, measuring the cost incurred to convert each lead, referrals or sale can provide the information that whether the marketing strategy is yielding the expected profit or not. And, based on the report you can take the appropriate actions to achieve the desired success.
The average amount of time the visitors visits your site can give you useful insights on the performance of your site. If the good amount of visitors immediately leaves the site upon arrival, then it is a clear indication that something must be wrong with your site’s content, designs and overall look and feel, which requires quick improvements.
After all, the success of your business can be measured by the revenue it is generating. The revenue metrics helps you to measure the success of your digital campaign, it clearly indicates that whether the strategy is profitable or not.
By measuring the data of paying customers, you can get the information on the specific areas in your marketing plan which is driving sales to your business. The amount of cost incurred to convert those leads, referrals or direct visitors divided by the actual buyers will provide you the actual figure of return on investment.
This metrics can provide you the information of a specific time period. It provides the information for a particular time period how much cost spent on marketing and advertising of your site, and how many new buyers you gets in that period.
Finally, these metrics can provide you a wide range of information to make your website a profitable venture. Based on the indications you can adjust your plan and reduce the unwanted investments.