The Most Important Key Performance Indicators In Digital Marketing
Introduction
In last month’s Vortex Marketing blog post, we discussed how to increase brand awareness for small businesses. Today, we are going to showcase five key performance indicators (KPIs) that can be used to measure and analyze the success of your brand awareness campaigns.
It is essential to measure your marketing efforts to identify what is working well and what needs to be improved upon. Marketing is very intentional, strategic, and analytical. When a business can effectively allocate its resources towards marketing efforts that are known to be effective and avoid less effective tactics, it saves time and money, leading to a better ROI overall.
Let’s discuss the top 5 KPIs to measure a successful marketing campaign.
Impressions
Impressions are how many eyes notice your marketing campaign, or brand. For example, if you purchase a billboard ad to increase local awareness, impressions would be how many cars drive by that billboard daily.
Although impressions do not automatically lead to purchases, they are necessary for getting the public familiar with your brand and raising the overall awareness level of your business.
Click-through rate
Click-through rate, or CTR, is the number of clicks your digital ad or campaign receives divided by the number of impressions. This metric is useful for understanding whether your ad, listing or CTA successfully receives clicks compared to how many people are seeing it.
The benchmark for a good CTR depends on the type of campaign you are running. According to MailChimp, the average CTOR (click-to-open rate) for an email campaign across all industries is around 2.62%, with some industries being higher and some lower. Check out this blog for 5 actionable steps to increasing CTR for email campaigns! The average CTR for a Google search ad across all industries is 1.91%, and the display ad is 0.35%, according to HubSpot,
Cost-Per-Click
CPC (cost-per-click), or pay-per-click (PPC), is a marketing metric used when advertisers buy ads on Google, websites, or other publishers. It is the cost that the advertisers pay when someone clicks on their ad.
Marketers will research keywords, review budgets, examine competitors, and analyze prices to make the most effective PPC marketing choices.
If you want to learn more about whether PPC ads are the right move for your business, check out this quick blog article.
SERP Rankings
SERP rankings refer to the order in which websites appear on the search engine results page given a specific search query. SEO is the marketing strategy of optimizing your website to increase its rankings.
It is essential to keep track of your website’s rankings, and constantly work to improve them through SEO.
Conversion rate
A conversion is any action you want a potential customer to engage in. A conversion rate is the number of conversions divided by the number of people who see the CTA.
For example, if you have a CTA on a landing page that encourages a visitor to sign up for your email newsletter, then the conversion rate would be the number of people who sign up divided by the number of people on the landing page in a given time frame.
You can set goals for any number of conversions, such as purchases, sign-ups, click-throughs, forms, downloads, etc.
If you are looking to pursue any area of digital marketing with experts in the field, give Vortex Digital a call at 319.621.0191 for a free, no-obligation consultation.
