How do you know if your digital marketing campaigns are working? Easy, you track your web analytics KPIs.
KPIs are the lifeblood of your marketing. They measure the performance of your campaigns and tell you where and how to spend your money.
But with so many to choose from, how do you know which ones to track? Here are a few web analytics KPIs you should be paying attention to for every marketing campaign.
Let’s start with one of the most obvious: the conversion rate. The success of your conversion rate depends on two things:
- Your web traffic quality
- Your website and landing page quality
These two pieces of the puzzle are what will help you reach the conversion rate you’re after. If your landing page isn’t optimized or the loading time on your website is super slow, it can have a severe effect on your conversion rate.
Cost Per Acquisition
This is especially important for startups on a budget. Not only will tracking your Cost Per Acquisition (CPA) help you stay on budget, it also gives you insight into great lead sources.
For instance, if you’re spending $50 per lead on your Instagram marketing, but over $100 on your Facebook page, then you should know where to funnel marketing dollars. Moving forward, you can focus more of your budget on Instagram, where you’ll generate leads at a lower cost.
Revenue Per User
Google Analytics provides an excellent tool within its platform that allows businesses to track their revenue per user. It’s pretty obvious how this can provide exceptional insight into your marketing campaigns.
Understanding how much money certain users generate for you, and where those users are coming from, can help you focus your budget.
It also lets you know which users, from which demographics, you should be focusing on.
Return on Ad Spend (ROAS)
Here’s another revenue-based KPI. ROAS is the revenue that’s generated from your marketing strategy, divided by your marketing costs.
ROAS helps you determine the efficiency of your campaign and better evaluate which channels and networks are working for you.
Good old bounce rate. This KPI gives you an idea of how long users are engaging with your products and landing pages.
You know you have a problem if your users consistently come to your landing page, but leave without doing anything else. Tracking your bounce rate can assist you in developing better CTAs and building higher performing landing pages.
A 5% increase in customer retention will result in a 25% to 95% increase in profits, according to a report from Bain & Company.
That’s what makes tracking your retention so essential. Being able to entice customers to your product is one thing; keeping them is a whole other story. Building customer loyalty into any marketing strategy will ensure your company continues to grow and sell. Retention is the KPI that will help you keep track of that.
KPIs will help you stay on budget, optimize your campaigns, and reach your audience where, and when, it matters most. Staying on top of these metrics will help you build your most successful marketing campaign yet.