Monitoring the results of your marketing efforts are crucial. You need to know whether you are making a difference or just wasting your time. This also gives you an idea if your team is doing the right approach in line with your business objectives.
Tracking the results of your marketing efforts can also guide you on what to do next. In fact, the data you already have in your monthly reports will and can guide you make better decision over the next few weeks.
In digital marketing industry, there are a lot of methods to monitor the results of your marketing activities. There are paid and open source tools you can use to gather the data you need. But regardless of what tools you are using, you will still look at 5 important performance indicators.
So if you are a business owner or a blogger, these five (5) KPIs are worth the time monitoring.
Monitoring your traffic sources is important. You need to know which of the channels you are using is/are bringing in high amount of traffic. This also gives you a factual information which channel has no use for you at all or which channel you need to focus more attention to.
For instance, you are spending a portion of your budget in your paid search campaign for several reasons:
- Above organic search results
- Short term investment with high potential results
- You can control the appearance of the ad based in your time/date or keywords preference
However, the traffic you are getting from this channel is somehow below your expected traffic in a daily/weekly or Monthly basis.
From that result, you can then make appropriate actions to address those issues. As there might be some issues in the heading, description, relevance of the page you are promoting in paid search. There is always a reason why those pages are not performing.
Note: Low traffic does not always mean negative if they all converted into something.
Average Time Spent
Time spent on a page is a case to case basis which depends on what type of page your audience are visiting. By analyzing your average time spent data, you can get insights which of your page/s need additional tweaks or what types of content your audience are interested in.
For instance, your blog post has below average time spent. This could give mean a lot of indication why your blog post is below expected performance such as:
- The appearance of the page itself did not meet your readers standard.
- The information provided in your blog post is something common.
- Your writing style suck
Again, it has to go through a review why your page/s received a below average time spent. Sometimes, it is not always the page that has issues – sometimes, it is you.
Another instance is if your conversion page received below 20 seconds time spent, it does not automatically mean it did not perform. Normally, conversion pages don’t require visitors to spend too much time on them. So use a little practical reasons before you make an action.
From those different scenarios, you can then decide to ignore or fix the pages with low average time spent.
Exit pages are important when analyzing your marketing efforts. This gives you an idea which page of your website your audience decided to abandon it. It is again, a case to case basis when you need to take a closer look at your pages with high exit rate.
For instance, you are handling an e-commerce website that requires your visitors to go through a series of steps before they can complete a registration. Seeing a high exit rate somewhere in the series of registration can help you figure out what caused the exit such as:
- Too many information required
- Loading page takes times during the series of conversion process
The bounce rate data is different from exit pages. It is also a case to case basis and should be used as a quality indicator alone. The “bounce” happens when someone from the web visited your website and leave without visiting any other page.
You should see other supporting data before you make an action such as:
- Time spent on pages with high bounce rate
- Type of page with high bounce rate (informational or commercial)
Not all bounce rate are treated equal. You need to go through a review before you make any action that is appropriate to pages with high bounce rate. Again, it is not ideal and recommended to make a change on your webpage just because of the bounce rate alone.
Goal conversion is probably the most important of all. Regardless of the other indicators mentioned above, if all your traffic converted into goal, you can rest assured that the first four indicators did their job.
In digital marketing, goal conversion is what actually matters for business owners. They don’t need the data for exit page, bounce rate and all. Not that they don’t understand the detail of it but they just don’t have time to look into it.
However, if you are a business owner and doing all monitoring for your website, taking time to look at the above KPIs can be a game changing. For instance, you noticed that your goal conversion is pretty low and below your expected goal conversions.
You can check at the following issues that might be triggering the issues:
- Fields indicated in your conversion form
- Placement of call to actions on your conversion pages
- Insufficient information needed by your audience before they convert
From your goal conversion rate data, you can further conduct a review on your conversion pages why they did not perform the way to expected them to perform. Since you already have your supporting data, it will be easier for you to make necessary decision to make your goal conversion productivity.
Before you make any marketing activities, you need to set your goals and lay out everything that will guide and assist your visitors while they are on your website. This can help you improve all important KPIs mentioned above as you bring in traffic to your website. Since data is the key to improvement, you need to act based on your data. Don’t always believe in theories, speculations or assumptions. You have the data that will guide and lead you throughout your decision making process.
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