One of the biggest challenges organizations face today is measuring the effectiveness of digital marketing.
Digital marketing analytics are necessary for successfully evaluating the impact of marketing campaigns. Most marketers, however, associate digital analytics with web-based metrics that are familiar with analytics, such as Google Analytics, which analyzes traffic, bounce rates, and unique visitors.
This is only the beginning of marketing insights. Marketers need richer data to understand how their marketing campaigns affect conversion rates and the buyer’s journey, even though web analytics can provide a wealth of insight into your website’s performance.
While digital analytics services allow you to see what’s working (and what’s not) for your marketing strategy, traditional marketing metrics yield much less insight.
You should learn how to leverage digital marketing analytics no matter where you fit into your company’s marketing mix. Analytics data doesn’t only tell you Insights like these can provide insight into how and where your marketing is performing and how it can be improved.
In order to help you master marketing analytics, we created this guide. It will help you grow your business and bottom line if you know what marketing metrics to monitor, how to interpret and use them, and how to use them.
How do digital analytics work?
Analytical tools for digital marketing translate customer behavior into actionable information for businesses. Through digital analytics, companies can learn how consumers behave online, why they behave this way, and how to convert this behavior into digital marketing campaigns.
We’ll discuss what marketing metrics you’ll measure and analyze before we dive into how to use digital analytics for your business.
In order to get things straight, let’s talk about vanity metrics. These are usually big numbers tied to nebulous concepts such as social media “impact” that are more fluff than reality. They often trick you into thinking your efforts are working. You might think they make your marketing team feel good, but they do not offer much value to your business.
Known as web analytics, these are digital measurement services metrics associated with websites and web activity.
- Visitor
Visitors (or Users) are people who visit your website. Cookies are placed on their browsers by tracking codes installed on your site.
- Page View
Page views are measured every time a browser loads your tracking code and loads a page on your site.
- Session
In a session, a visitor takes a series of actions on your website, such as viewing pages, clicking CTAs, and participating in events. Sessions expire after 30 minutes if visitors don’t take any further action.
- Traffic
In a given period of time, traffic (or visits) is the total number of visits to a particular site or page.
- Traffic by Channel
The total number of visitors per referral channel is the number of site visits and landing pages (e.g., social media, email, landing pages, etc …).
- Traffic by Device
In terms of traffic by device, it refers to the total number of visits a site or web page receives per type of device (e.g., smartphone, tablet, desktop, etc …).
- The ratio of New Traffic to Returning Traffic
You can calculate the ratio of new traffic to returning traffic by comparing the number of new visitors to the number of returning visitors on your site or page.
- Time on Page
Visitors to your site or page spend an average amount of time on it.
- Interactions per Visit
Your visitors’ actions on your website are called interactions per visit.
- Bounce Rate
As a percentage of visitors to your website or page, the bounce rate is how many of those visitors did not interact or browse any other pages.
- Call-to-Action (CTA) Click-Through Rate
As a percentage, the click-through rate measures how many people click on a CTA compared to the number of people visiting the page, or site.
- Submissions
You can calculate submissions by dividing your total number of web visitors by the total number of submissions.
- Conversion Rate
Conversion rate refers to how many visitors took action (e.g., downloaded the lead magnet or subscribed) on your lead magnet.
- Free Trial Conversion Rate
Conversion rate can also be referred to as the percentage of free trial users who become paying customers after their free trial period ends.
- Pop-Up Conversions
Conversions for pop-up forms represent the percentage of people who complete the forms and become customers after they finish.
- The ratio of Generated Leads to Marketing-Qualified Leads (MQL)
As a percentage of the total number of leads generated, the generated leads to MQL ratio measures how many leads are “good fits” for your lead magnet.
- Leads to Close Ratio
Based on the number of leads compared to the number of customers converted, the leads-to-close ratio is calculated.
- Best Metrics for Email Marketing
In conjunction with email marketing, the following digital marketing metrics are available.
- Open Rate
Based on the number of emails sent, the open rate is the percentage of emails opened.
- Opens by Device
This statistic illustrates the number of emails that have been opened on different types of devices (e.g., smartphones, tablets, and desktops).
- Click-Through Rate
CTR measures how many people click on a link or CTA in an email at a given time out of all email opens.
- Bounce Rate
As a percentage of the total number of emails sent, the bounce rate measures the percentage of emails that were undeliverable.
- Unsubscribe Rate
A given period of time is measured by your unsubscribe rate.
- Best Metrics for Social Media
In relation to content marketing and social media, the following metrics are relevant.
- Engagement Rate
It is a measure of how many engagements (such as comments, clicks, and likes) a page or post has compared to how many views it has received.
- Follows and Subscribes
The number of followers and subscribers shows how many people are interested in your content and want to be notified when posts or pages are published.
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