What’s the ROI on your online marketing efforts? How do you determine if they are any effective? The easiest way to tell is by measuring certain specific online marketing metrics.
But surely, not all online marketing metrics are worthy of being tracked. So, which are the online marketing metrics that you should track?
To help you with an answer, I’m going to give you the 5 online marketing metrics that you must track in 2018. By tracking these 5 online marketing metrics, you shall be able to successfully evaluate the performance of your overall online marketing strategy.
1. Track Your Traffic Source
Identifying the source of your traffic can give you a perspective which of the online marketing channels are contributing to your site traffic and which of the efforts aren’t paying any dividends. Based on this insight, you may chose to continue focusing on key traffic contributing channels in 2018 while truncating those efforts that do not contribute as much as they should.
2. What’s Your Majority Audience’s Device of Choice
Another important online marketing metric that you should definitely track is your majority audience’s device of choice. By getting an insight into which device (desktop, tab or mobile) the majority of your target audience use, you can align, realign, and optimize your design and content strategies for maximum engagement.
3. Track Your Cost per Lead (CPL)
This is one of the most important online marketing metric that you must track to evaluate the performance of your online marketing efforts. Based on your CPL metric, you can determine whether you are spending your money in the right areas or not. It will tell you whether you content and other lead acquisition strategies are paying off or need major overhaul.
4. Track your Conversion Rate (CVR)
For any business, online or otherwise, it all boils down to ROI, and your conversion rate (CVR) is one such metric that can reflect the true success of your online marketing efforts. After all, the amount of resource and effort you put in your online marketing ultimately is about conversion.
By effectively monitoring and tracking your CVR, you can evaluate your marketing strategies, focus more on those that are working and discard the ones that aren’t.
5. How Fast Does Your Site Load
A slow loading site not only agitates your site visitors but is also bad for your SEO score. The site speed is one of the indicators that Google takes into account while ranking websites. This makes ‘site speed’ one of those metrics that you must keep an eye on all the time. By optimizing your site speed, you will enhance the user experience, appear more in search results, and thereby drive more traffic to your site, which in turn will boost your bottom line.
Besides these 5 online marketing metrics, there are several other metrics like Site Traffic, Bounce Rate, Click Through Rate (CTR), Cost Per Click (CPC), etc. that you must make an effort to track.
All these online marketing metrics empower and allow you to make informed decisions and chart the future course of your overall online marketing strategy.