Digital marketing is making it more affordable for small and mid-size businesses to promote their brand. However, just having a digital marketing campaign doesn’t necessarily mean it’s successful. So it’s critical to know how to measure whether your digital marketing efforts are working or not. Here are some important KPIs in digital marketing.
What’s a KPI?
First, you may be asking, “What’s a KPI?” KPI stands for key performance indicator. These are measurements that allow you to gauge how your marketing efforts are doing.
ROI, or return on investment, is the most important of the important KPIs in digital marketing. Because if you have a great ROI, all other KPIs are irrelevant. Having said that, you usually don’t have a great ROI without having other KPIs performing well.
And ROI doesn’t happen without conversions. Conversions are when potential customers take an action that you designate is important. For B2C, it may be making a purchase. For B2B, it can be signing up for a demo request. Either way, conversions usually lead to revenue.
Impressions are important because they help you achieve a key part of any digital marketing campaign: brand awareness. They reflect how many people have seen your ads. And remember, potential customers need to see your brand many times before they actually make a purchase.
CTR, or clickthrough rate, is important because it indicates that potential customers are responding to your messaging. For instance, if you have a low CTR, it may be a reason why you’re not getting many conversions. Without a lot of conversions, your campaign won’t have a great ROI. A lot of these KPIs are interrelated. And CTR is critical when it comes to email marketing.
Engagement is a great KPI when it comes to social media like CTR is vital for email marketing. Because if users are commenting, sharing, and liking your ads and/or boosted posts, that means the message is resonating with your potential customers.
If you’re considering beginning a digital marketing campaign for your business, contact Colossus Media Group, one of the premier digital marketing agencies in NJ. Colossus Media Group can deliver big results for your digital marketing campaigns. Call Colossus Media Group today.