Every business owner is seeking a fail-proof strategy to get the word out about the products and services. Majority of them embark on a digital marketing journey but their actions are based on blind guesswork.
This, instead of bringing more profits,increases the risk factor. The reason behind it is the misunderstanding of digital marketing as a rocket science whereas it is a simple process to master.
Undoubtedly, the traditional marketing methods work tremendously well but now you can’t expect much from these outdated methods. That’s why strategic online marketing services are in huge demand as it is an easily traceable and inexpensive way of marketing.
Digital marketing methods affect the revenue of many businesses that have practiced them well. But measuring the results is the most important factor in order to know what is working and what is not. Digital marketing metrics are the best way to do so.
So, keeping that in focus, we have listed the important digital marketing metrics that need to be focused on to increase business revenue. Let’s have a look at them:
1: Total Number of Website Visits
Out of all digital marketing metrics, the total number of website visits is considered to be the most important one. The scale of the total number of website visits needs to keep on increasing as it is the lifeblood of a website. The result of every marketing campaign you run revolves around this metric. So, it is essential to keep an eye on it. The amount of traffic keeps on fluctuating so when it experiences a sharp decline that means something isn’t right and needs to be improved.
2: Interactions per Website Visit
A website visit does not mean that the visitor has interacted with your website. Similarly, the interaction with the website does not mean that the visitor is converted into your customer. There is a huge difference between a number of website visits, interactions per website visit, and the conversion rate.
So, it is also a useful metric to keep track of people who actually interacted with your website.While measuring this metric, you need to keep track of the number of pages visited by a user, the time they spent on individual pages, and the action they take on each page.
3: New & Returning Website Visitors
Like every business website owner, along with having new customers, you must want some customers coming back to your website. And this happens with almost every website. So, you must keep a track of how many new and returning website visitors your website is experiencing.
This helps you understand how well your web content is performing and what needs to be improved to increase the count. If the count is good, you must keep on doing what you are doing as it is being liked by your visitors. If the count is not up to the mark, it’s time to ramp up your marketing efforts.
4: Visitor’s Average Time on Website
How much time people invest in your website tells you how engaging your website content is. Their valuable time is a “thumbs up” to your website. So, it is very important to measure this metric to make improvements to your website.
If it seems to be low then it is a matter of concern and you must focus to make improvements. Remember that it is hard to keep visitors from exiting the website with poor content.
5: Traffic by Source
Every website visitor you are gaining for your website has a source of origin. The traffic by individual channels is a metric that is used to track from where your visitors are coming. This helps you keep your focus on putting the marketing efforts in the right direction.
Every Google AdWords certified company is making use of this metric. As with this, it becomes easy to get a detailed picture of website visitors and you will easily target the location, the interest, and the choice of the audience while creating and running ads accordingly.
6: Bounce Rate
Every website experiences two different types of website visitors. Some visit the websites and navigate every part of it while the others leave by only visiting one of your webpages. Every webpage experiences different bounce rate.
For example, there are chances that your website’s homepage experiences more bounce rate than the about us page. However, this metric is relative and it is hard to get the right idea about what needs to be improved to reduce it. You need to experiment with your marketing practices and compare the results accordingly.
7: Cost per Visitor (CPV) and Revenue per Visitor (RPV)
Now that you have a good hold of other metrics and making improvements accordingly, getting the desired results for revenue per visitor becomes easy. This metrics states the amount of revenue your business generated with each visitor. This also tells you that if the marketing efforts are yielding positive results or not and the channels you are using for marketing are right or not.
If your revenue per visitor is more than the cost per visitor that means you are heading towards the successful results. If not, keep a close eye on how you are allocating your budget to have better results.
Wrapping up
Hopefully, you have got an idea about the most important digital marketing metrics that need to be considered along with your digital marketing practices. So, pull up your socks to track the results and make improvements on your website accordingly. This will surely affect the revenue goals that you are trying to achieve through digital marketing.
Summary:
In this day and age, it is hard to generate the expected revenue without implementing digital marketing practices. It is equally important that once these practices are implemented, you must track the results as well. So, this blog post is aimed to give you detailed information about the important metrics one should consider to increase the business revenue without any failure.
Author: Soumyajit Chakraborty