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Metrics that can make or break your campaigns.

Digital marketing has taken over a major share of advertising and is not an optional commodity but a necessity in today’s world. The golden age of traditional methods of getting your brand across is overdue to numerous limitations and invasive methods that no longer work with the current audience. At the same time, Digital marketing unlike the traditional requires careful targeting and measurement of results to give the most effective campaigns. Measurement or monitoring is important to improve the campaign strategy and make better use of the invested amount. Let us go through some of the metrics that help improve the performance of digital advertising.

1. Cost per Lead factor
It is an important metric of how money translates to leads or enquiries. If the website you are promoting is collecting leads for the organization to ‘close’, cost per lead helps you understand how much each lead has cost you. If the cost of each lead is more than what you achieve by closing said leads that are indicative of a backward return on investment and vice versa.

2. Conversion rate factor
This rate helps you keep track of or control your marketing efforts. You can keep track of your lead close rate and check them against the leads being generated. This helps you ensure that your marketing is delivering leads profitably. If there is a sudden influx of new leads but they close at a lower rate, it may indicate that you need to adjust your targeting.

3. Cost per Acquisition
It is a simple extension of cost per lead. This metric can be found by dividing your marketing costs by no of sales (or conversions) generated. You now know the exact cost it takes to get a sale which can be used to better steer your ROI.

4. Conversion Rates for each Channel
Another critical metric to watch during marketing efforts is the Conversion Rate of leads to actual results by channel. Your ad or post can generate traffic from various sources which can be organic, paid, social media, or other avenues. If you know where they are from, this helps you understand where the bulk of the responding audience is or where your marketing strategies are working well. Conversion rates can be a let you know of where the real opportunities are.

5. Conversion Rates by Device
As we check conversion rates by channel, the same has to be done with device. If one device his given reduced conversion performance, it may be time for you to reinvest in a different area. For example, mobile traffic is on the rise compared to desktops currently so it’s wiser to put more money in the former for profits.

6. Average Order Value
As your orders increase, it’s good to keep an eye on the average ticket value which can help you gain significant benefits. An incremental increase in average order value can bring in new revenue worth thousands and this can often be achieved by something as simple as improving user experience and providing upsell opportunities.

7. Performance of Landing Page
You can measure the performance of landing pages by looking at Bounce rates, CTR, conversions rates, conversion assists, etc. Isolate any landing pages that aren’t driving conversions or those that need to be fixed or eliminated, or the marketing strategy driving the traffic needs to change.

8. Lifetime value
The real essence of ROI is in understanding the average spend on a customer for a lifetime. Say it costs you Rs 5000 to bring in a new client and he makes only a total purchase of Rs 5000 which is a loss considering the cost of marketing and subsidiaries. But if you knew that the customer would make the same purchase every six months, it looks like it’s worth it.

9. Brand/Non-Brand Factors
This differentiation between brand and non-brand searches helps you target your audience efficiently. Brand searches usually have a higher click-through and conversion rates than non-brand as you’re hitting people who are already following or interested in you. By monitoring this data, you get additional info into what is or isn’t performing up to its mark. By watching the above metrics and streamlining searches thus, we can have more effective campaigns and less spending for better results. OnpageOne emphasizes on result oriented campaigns which give you best results for reasonable costs.

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