Digital marketing is a key factor for every business’s success. This is the primary reason why there are now many digital marketing companies that offer their services to clients. They help businesses reach their full potential through various marketing campaigns that can be done online. These campaigns include email blasts, social media promotion and many more.
In the past, these marketing campaigns were very expensive, and only big-named companies could afford them. Now, businesses of all sizes can take advantage of these solutions because they are affordable and effective as well. To measure the success of your digital marketing campaign by Digital Marketing Agency Melbourne, here are some ways to do it:
How to measure website traffic?
Website traffic is the number of people who visit your website. It is one of the most important metrics for measuring success in digital marketing by Digital Marketing Agency Melbourne, as it helps you understand how well your online campaign is doing.
- To measure this, you’ll need to use Google Analytics (or any other tracking software) and then analyse the data over time. Some important metrics include:
- Unique Visitors: The number of unique people that visited your site within a given timeframe—e.g., one month or one year—as opposed to visitors who may have visited multiple times during that period. This helps show how many new people are visiting your site each day/week/month/year and how often they’re returning throughout their lifetime.
- Bounce Rate: The percentage of single-page visits as compared to total page views per visitor; this shows how likely someone is going from page A straight back out again without looking around or engaging further with what’s on offer (e.g., “bounced”). A high bounce rate can indicate either poor user experience on those pages themselves (e.g. broken links) or else bad targeting leading people somewhere they don’t want to be going!
Conversions are the goal of your marketing campaign. Whether you want to increase sales, reduce costs or both, conversions are what you’re working toward.
The first step in measuring success is tracking the number of conversions that occur after a digital marketing campaign has run its course. You can do this by setting up conversion tracking on your site so that it records each time someone completes an action, like purchasing a product or signing up for a newsletter. This information can then be analysed to find out how well your efforts are paying off and identify areas where improvements could be made.
Conversion rates vary from company to company and from industry to industry, but most marketers agree that at least 2% is considered successful – higher if possible! If your conversion rate is lower than that, don’t panic: there are lots of ways you can improve it without having to throw more money at investments like ads or landing pages.
The most important metric for a digital marketing campaign is sales volume. Sales volume is the only metric that matters.
If you’re running a digital marketing campaign, it’s crucial that you keep track of your click-through rates (CTRs) and conversion rates (CVRs). But those measurements are only useful if they lead to an increase in sales volume — otherwise, everything else about your campaign will fail.
Measure Brand Awareness. This is one of the most important metrics to track in a digital marketing campaign because it is an indicator of how many people have been exposed to your brand, product or service. Brand awareness can also help you identify whether there’s a need for more content on your site and what kind of content is resonating with your users.
Brand awareness can be measured through:
- Social media metrics, including likes, shares, comments and retweets;
- Pageviews from search engines like Google;
- SEO metrics like backlinks pointing to your website or blog posts;
Companies that have achieved high levels of brand awareness include Dell Computers (Dell), Coca-Cola (Coke) and McDonald’s (McDonald).
Customer Acquisition Costs
Customer acquisition cost (CAC) is the cost of acquiring a new customer. The CAC should be less than the lifetime value of that customer in order for the digital marketing campaign to be successful.
CAC is usually a function of:
- The marketing mix variables (or the various elements used in an advertising campaign)
- The marketing mix variables and their respective weights
It’s important to note that this is not simply about getting more people to visit your website or download your app. It’s about how much money you’re spending on each visitor, which will vary based on their behaviour after they arrive at your site or download your app. For example, if someone downloads an app but never uses it before deleting it from their phone, then it may have been a waste of money because they weren’t going to convert into customers anyway (unless they re-downloaded later).
Digital Marketing is the future.
In today’s day and age, digital marketing is the future, as per Digital Marketing Agency Melbourne. Why? Because it’s more cost-effective, more targeted and measurable, more flexible and personal.
In fact, digital media has become so important that it has now surpassed traditional media in terms of revenue generation in many industries.