How to measure digital marketing? Compulsory metrics according to objectives
Measure digital marketing– In many cases they are generic metrics that, by themselves, tell us rather little if they are not located in a business context. Or what is the same, you can have all the metrics of the world world; but if you do not have defined your business objectives and the KPIs to measure actions it is as if you have nothing.
Well yes, you have a million data that the only thing they will do is put sticks on the wheels instead of helping you make decisions.
Logically, depending on the business, these objectives can vary or each one take a different weight.
But in one way or another, you will always need to get money, get users, that these users do something with your content and on your site and you will need to repeat them.
How to measure digital marketing? Where do we start?
- For the client, user, reader …, call it what you want; but he is the center and not you.
- You will never be important enough, big or necessary as your client will be, you will never be above.
- He shapes the meaning of everything and your strategy, that’s why he has to be at the center.
How to measure digital marketing – The customer
- I point out this, because I have already come across different companies that are the ones that believe they are in the center and not its user.
- The business ecosystem has changed, we have to revolve around the user, as well as learn to negotiate and share (but this is another post).
- Returning to the client as a center: you need a CRM and a working strategy with your database.
- The CRM is a business philosophy, it is not a tool and it is not a consultant type: it is to know your client and present offers or contents appropriate to your demand.
- But I do not advance, first you have to define objectives.
In general, these four objectives are what your digital business will have.
Because you need users that you will have to capture (records) to transform them into clients (income) while they do something on your website ( engagement ) and, in addition, they have to repeat and return (loyalty).
All that is nothing more than what is called a funnel of conversion or sales funnel.
And it has to do with the moment in which the client is, since we can not attack in the same way a user who does not know us that another, for example, who has already bought us.
In the same way, that we will not be able to treat the same as the customer who buys us once from another who buys us four.
Question, how are these objectives translated into a traditional conversion funnel?
That is, if what we want is to attract, convert, sell and build loyalty to our user , it means that we have to increase traffic to convert strangers into visitors, visitors into leads, leads into customers and these into prescribers of our brand.
So, in this case and fulfilling these phases , we would cover our main objectives.
How do we approach each phase?
In the previous graphic, you will see, basically, a representation of a conversion funnel aligned with the transformation suffered by a user as he goes overcoming phases in the funnel.
And, in addition, everything aligned with the main objectives of our site.
Now, you have to face the question “what do we offer the user in each phase?”.
Or what is the same, how do we get the best possible performance from the user based on his position in the conversion funnel?
Top of the funnel, middle of the funnel and below the funnel.
- The client is exploring.
- You have a need and you are looking on the Internet, it is on top of the funnel.
- Here we need to attract the user to our site, who knows us and who has a first good impact with the brand.
- What to use? Blog, SEO, social networks.
- For its part, the client is already evaluating alternatives here.
- At this time, it is convenient to help the client to form their own criteria.
- Provide value through comparisons or extra data of product or service.
- It is very important at this point to know that the client looks for other advantages, perhaps more intangible than a product, such as after-sales service or personalized service.
- What to use? Ebooks, whitepapers, success stories or testimonials, talks or webinars
- The customer is ready to buy.
- This is when your automation strategy has to be very defined, since the user needs the last push.
- What to use? Email, workflow, evaluation of leads.
- Once clear what is the meaning of measuring in digital marketing and what is the consumer journey in the online universe is to define how to measure these 4 objectives of income, records, engagement and loyalty.
How to measure the income of a website?
If you have a website that generates business, you have to measure it through income.
I think it’s interesting that you went before for the post I wrote about how to measure a web page according to its objectives because it is closely related.
The important thing is that you always define an objective and a KPI of control , in this case, it would be to sell more to the minimum possible cost, to the maximum possible clients and to obtain the highest number of repetitions.
Although these would only be the main KPIs, I recommend that you build a dashboard with the 10 key metrics for your business based on your main KPI, that is, the income.
- Income by channel
- Conversion rate
- Average ticket
- Number of transactions
- User value
- Most selled products
- Most sold products per channel
- PPC conversion rate
- Mobile users and desktop / login users
- These metrics build a very visual dashboard that will help you (at a glance) to see how your business is running.
- How to measure digital marketing – 4 metric dashboard
How to measure the records?
- This metric is simpler than pure income.
- The main KPI, of course, is the number of records, but you also have to set objectives.
- What do you want these records for?
- If your business is going to sell, they will always be oriented to the sale, however, these could be some transversal.
- Create a brand through a community that we will feed with the newsletter.
- Increase the TOFU in the conversion funnel.
- How to measure digital marketing – KPI plus records
- As in the previous section (sales), yours is to build a scorecard with the capture of records.
- The main crossing is, without doubt, the number of records captured per acquisition channel.
- How to measure digital marketing – records captured by acquisition channel
- In this way, you will be able to measure exactly which channel is receiving the most records.
- Another issue is what happens with those clients after being captured.
- They buy?
- Do you open the newsletter?
- Do you browse a lot through our site?
- Do you repeat?
- By this I mean engagement.