If you regularly track your online marketing KPIs (Key Performance Indicators), you will find out what works in your company and what doesn’t.
KPIs show your success or failure. Without them you wouldn’t know where you stand. Real KPI’s inform, guide and give you a clear direction. They answer your questions on what you need to do better and different.
Peter Drucker (pioneer of modern management) once said: “If you can’t measure it, you can’t manage it.”
Eminence, your local digital partner has listed the most important KPIs, you should measure in your digital marketing strategy in order to run a successful business.
- Visitors
The effective number of visitors who visited your website is the first indicator which shows if your website is attractive or if you need to rework on the content and/or the web design.
- Leads
Leads are visitors who leave their contact details and therefore become prospects (or potential customers). They have filled in a form or registered for a newsletter. Leads have to stay at least constant and ideally increase every month.
You should fix a monthly lead objective. If you don’t reach it, have a look at your visitors; do you have enough of them? Mostly the CTAs (Call to Actions) and the landing page are responsible for a successful lead generating and you should revise them. Also the quality of the leads is important. 100 leads that don’t turn into real clients are worth nothing.
- Conversion rates
Conversion rate for visitors who become leads: This conversion rate describes how many percentage of your website visitors become leads. If you have 10’000 visitors in a month and 100 of them become leads you have a conversion rate of 1%. The conversion rate shows you how effective your website transforms visitors into leads. The average is approximately between 1-3%. If you want to increase your leads you should improve your Calls to Action (CTAs) as well as the landing page. It would be also interesting to measure where the web visitors come from.
Conversion rate for leads who become clients: This conversion rate describes the percentage of your leads that turn into clients. To transform leads into clients is one of the most important aspects in the Inbound Marketing. The average is about 0,5 to 5%. If you are not satisfied you should study the customer journey of your leads, work on a better and more persistent content and in addition implement an active dialog with your leads.
- Impressions
The impressions show how many times a website or also subpages appear in the search engine results. The objective is having the greatest possible quantity. This KPI is a useful orientation and serves in particular as a benchmark for banner and display ads.
- ROI (Return of Investment)
The ROI is a crucial indicator, which shows the financial effectiveness of your online marketing measures. To calculate the ROI you need to divide the net gain by the total costs of the investment.
- Bounce Rate
The bounce rate plays an important role in the digital marketing strategy. It indicates the number of the visitors, who visited just one site. A high bounce rate may be the indicator, that the user doesn’t find the information he wishes to have or the website presentation is not appealing and informative.
A low bounce rate is the indicator for a website which is attractive and interesting for the user as he spent some time on this site with reading and studying the content.
Considering this KPI you should in any case consider the nature of the respective content. An infographic or an image gallery can include all the necessary information a user needs and despite having a high bounce rate as the pictorial representation is detected more quickly than text.
- Engagement
Engagement indicators are Social shares and comments.
The focus on the KPIs of the engagement is a double-edged sword – people share quality content, which is useful, entertaining and information-rich. But unfortunately, the rule of thumb “If a content is great, it’s shared” is not always applicable. Some sectors or rather some target audiences just don’t share or comment content, in particular if the topics are sensitive or personal. In this case you need to sidestep into alternative feedback.
- Ranking
The ranking describes if your website ranks successfully (with your keywords). Ideally you should strive for being within the top 10 ranking of the Google search result pages.
Once you have established your content, it can take several weeks, until your website ranks reasonably. If you are not ranked in the top places you should use other keywords, work on a better Onpage-optimisation and also try increasing your inbound links.
- Conversion rate for Call to Action (CTA)
The conversion rate for CTAs describes the percentage of your visitors who become leads with a single Call to Action. With this measurement the efficiency of a single CTA is defined. The percentage of the conversion rate varies quite strong and is between 3 to 15% in average.
- Conversion rate for landing pages
The conversion rate for landing pages describes the percentage of people who perform the requested action of your landing page. For example the conversion of visitors into leads or leads into clients. You should regularly have a look at your landing page and if necessary adapt it once a month. The benchmark for the lead generating is 15 to 30% and for sales 30 to 60%.
In a nut shell
During growth, your company will pass through various stages. Thereby there will be different KPIs on which you should focus at each stage. Particularly important are KPIs, which have a direct influence on your Sales Funnel and therefore impact your growth and your ROI.
Eminence, your digital marketing pioneer can help you to build up a thoughtful strategy to define in a first step your target audience and subsequently define the KPIs for your company to successfully run your business.