What Tracking Do You Need For Your Business?
- April 17, 2020
Without tracking metrics when running marketing campaigns you will not be able to demonstrate the effectiveness of the campaigns you are running. No matter what your campaign is you need to track digital marketing performance. Metrics are measurable values used to demonstrate the effectiveness of campaigns across all marketing channels and having measurable marketing metrics and KPI’s set up can help your business reach targets. The metrics we measure depend on our clients goals. At Koozai we make sure we focus on metrics that are relevant to your business.
It is very important that you do not track vanity metrics, for example how many likes you have on your Facebook page. This figure is meaningless if these people are not engaging with your page.
There are lots of metrics that you can track for any business. Below are a list of some of the metrics we use at Koozai to measure performance.
Overall Website Traffic – This shows you how much traffic you are getting to your website. This is the first metric you should track as most people determine success by having an increase in website traffic. This should be monitored regularly. If at any point you see a steady decline in traffic you need to investigate and find out why this is happening. This could be happening for several reasons including broken links, technical issues or a Google Algorithm penalty.
New Visitors vs Returning Visitors – This is a great metric to track as it helps you find out how relevant your website content is. New Visitors are those navigating to your site for the first time on a specific device. Returning Visitors have visited your site before and have returned using the same device. This metric can help you find out how users feel about the information you are providing. For example lots of returning visitors can suggest that you are generating information that people find valuable so they keep coming back to your website. By looking at returning visitors this helps demonstrate the value of your content marketing efforts. You can use the new visitors metric if for example you want to drive more organic traffic to your website. You would then expect new visitors to increase if you are driving organic traffic.
Most Visited Pages – This should be tracked to help you find out which areas of your website are most valuable. The most visited pages metric shows you the most popular pages and how long visitors spend on them.
Bounce Rate – This metric shows you the percentage of people who leave your website after viewing only one page. This metric should be regularly checked to ensure there are no issues with your site. If you notice a high bounce rate on a certain page you need to figure out why this is happening. This could be happening for a number of reasons including: the site takes too long to load, they did not immediately find what they were looking for and they found relevant content but were not compelled to click further.
Traffic by Source – It is very important to track which sources bring in visitors to your website and which are just a waste of money – you can then focus on what works and stop spending time and money on what doesn’t. Depending on the service we provide our clients with we constantly track this metric to ensure we are reporting on the traffic sources to the website. Below is an explanation of what each source means.
Organic Search: These users clicked a link on a search engine result that brought them to your website.
Direct Visitors: These users typed your URL directly into the search bar.
Referrals: These users were sent to your website when they clicked a link from another website.
Social: These users came to your website after finding your social media profile or content posts.
Return on Investment (ROI) – Measure the ability of marketing campaigns to generate new revenue. This metric measures how much revenue a marketing campaign is generating compared to the cost of running that campaign. This metric answers the question, “are we making back the time and money spent developing and executing the marketing campaigns?”
Return On Advertising Spend (ROAS) – This measures the return on ad spend from a digital advertising campaign. ROAS helps businesses evaluate which methods are working and how they can improve future advertising efforts. ROAS is needed to evaluate the performance of ad campaigns and how they contribute to helping the business.
Conversion Rates – This is simply the number of people who see your product/service, divided by the number of people who actually make a purchase. For example, if 100 people see your ad and five people click, you have a five percent conversion rate for that ad. Conversion rates metrics are a great way to measure the successfulness of your marketing efforts. You can use these for so many things including progress through online shopping carts and converting users from free products to paid products. The key to tracking conversion rates is that you can then focus on improving a particular process and know immediately if you are making improvements.
Hope the above information has given you an understanding of different metrics that can be tracked. Every business is unique and will have specific things that drive success and that need to be tracked so if you need pointing in the right direction just let us know!
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