In order for you to be successful, you have to work hard. The first thing you need to do is to analyse the situation, step up to the creative elements, turn the odds in your favour, and innovate the extraordinary stuff that would give you that extra inch over your competition!
What is the most recent phase you have been through where you have not been able to create a successful streak of campaigns?
The majority of the time, it happens when one is morally down, does not possess effective communication skills, and is not capable of thinking creatively to see what should be done to make the business successful.
Today, entrepreneurs start businesses without paying much attention to their resources. If Saransh, an entrepreneur, wants to start a business and run it digitally, he needs to know how campaigns flow effectively. Third Eye Blind Productions has a knack of how well these parameters work on the basis of some key tools. In order to create something new, you need to invent something adventurous.
Let us understand with the help of the below evidence, how well you can track important metrics and measure success.
An increase in leads can result in an increase in sales numbers, which is one of the main objectives of digital marketing. The definition of a lead may differ from business to business, so it is important to keep this in mind when thinking about leads. In addition, we have some key metrics you can use to measure how well lead generation is working.
Basically, if you see, most of the websites have a contact page that has a phone number where people call and connect for their queries. Lead generation through a phone call is considered to be the best source of generating business. Many businessmen have the tendency of re-routing the whole connection to their website via a call that is later addressed by the management.
The traffic to your website is a good starting point for measuring leads. Having a high volume of traffic can indicate that you can generate more leads, but overall traffic numbers can be misleading. Leads are not always generated by more traffic. Measuring the traffic to your website should take into account the following factors:
If your website’s overall traffic is good, this shows that your SEO efforts are working to help people find it. Make sure you know where your traffic comes from. You have a well-optimized website if you have a lot of traffic coming from searches. Social media campaigns are effective at attracting new customers if a good amount of traffic is coming from them.
Submission of forms
You can also measure lead generation success by the number of form submissions you receive through your website. Your digital marketing strategies will work well if you track where your form submissions are coming from in Google Analytics. In the event that your conversion rate on submitted forms is low, you should look at your follow-up process.
Rate of conversion
Taking the desired action, such as purchasing or scheduling a service, constitutes a conversion. You can measure the effectiveness of your digital marketing efforts by calculating your cost per conversion once you determine your conversion rate within each metric.
In order for your target audience to recognize your brand, you will need to know how familiar they are with it in order for them to recognize it. The term ‘trending’ has come to mean brands with a high level of brand awareness.
These brands are sometimes referred to as ‘buzzworthy’ or simply ‘popular’ based on the level of brand awareness. Establishing brand awareness is very important when marketing and promoting your brand and products, especially at the beginning of your business. Getting along with the metrics has been the best way to create awareness.
In order to generate more leads, it is important to increase the number of impressions. The number of impressions, also referred to as reach, is the number of times your content is seen by users. If your impression numbers are low, you should adjust your social media strategy or ads.
Click through rate
If you want users to click on your ads and land on your landing pages, you need to get them to click on your ads. There is nothing wrong with having an impression count, but the goal is to get the visitors to click on your ads and get to your landing pages.
It is important to note that the click-through rate (CTR) of your ads will provide you with an indication of how effective they are at driving traffic to your website. In general, the CTRs for your ads are pretty low, especially if you are showing them to people who are unfamiliar with your brand. When you are determining your benchmark for CTR, you should keep this in mind.
Sales & Marketing
In order to determine how successful your digital marketing campaign is at increasing sales and revenue, you should consider the following metrics:
It is very important for you to check the amount of revenue your company earns through your website as the first step. The success of your digital marketing efforts can be determined by the amount of sales your website generates from your digital marketing efforts.
Regardless of whether your business sells products online or provides services, you should always keep an eye on your conversion rate. Your digital marketing campaign needs to be adjusted if your conversion rates on your e-commerce website are below the benchmarks you have set for them.
Identify your KPIs
In any marketing campaign, KPIs (Key Performance Indicators) are essential. As the planning process nears its conclusion, project leads often bring this section up for discussion.
Your campaign goal is to increase app installation and brand awareness through a coupon code offer that gives users an extra percentage when they use the app. Your app is not configured to track coupon code usage, as you find out later from the Development team. That’s it!
- Surveys on brand lift
- Analyzing sentiment
An important consideration
- Traffic as a whole
- Generated leads
- Time spent on site on average
- Comments on social media
- Amount of clicks on ads
- Shopping carts
- Carts abandoned
Taking a decision
- Making purchases
- Acquired qualified leads
- The conversion process
Experiences after purchase
- Survey on product experience
- Survey of customer satisfaction
- Customer reviews and testimonials
- Returns and exchanges
- Likes and followers on social media
Through the use of effective digital marketing, there are several ways to increase the generation of leads, sales, and brand recognition. Ensure that your digital marketing efforts are helping you achieve your marketing goals in each of these areas by regularly checking the important metrics listed above to make sure they are assisting you in achieving your goals.
There is no point in spending time and money on digital marketing if you are not going to achieve the results that you want.