Digital marketing is considered to be an effective way of advertising. Most companies are slowly abandoning the traditional form of marketing in place of the modern online marketing. One of the reasons for choosing online marketing is due to the rate of success using the online platform. Success is relative hence the need to measure it.
How to measure the success of digital marketing?
This question forms the basis of discussion where the best ways of measuring success based on an online campaign will be discussed.
Step 1: Capture the Right Digital Data
The first thing that you should do is to capture the right data. It might be a bit hard to capture the right data but with the help of analytical tools, your work will be made easy. Remember, having a website does not mean that data will be automatically captured for analysis.
Step 2: Determine the Marketing KPIs to Monitor
Choosing the right KPIs is part of measuring the success of digital marketing. It should be done even before the campaign is launched. KPIs helps a company to exactly what to measure hence it must be carefully crafted. Here below are some questions you need to answer before setting up your marketing KPIs:
- Is the company targeting new clients or retaining the existing ones?
- What is the company’s desired outcome of visitors’ interaction?
- How does the company’s message resonate with the target audience?
Once you have a clue of the answers to this questions, then monitoring your marketing KPIs will be quite simple.
The Aggregate Buckets for Measuring Success of Digital Marketing
The following are some of the aggregate buckets that can provide insights into the whole marketing campaign.
The company must measure its reach by looking at how far the brand has reached. This can be done by analyzing statistics of impressions and views of Ads.
Another way of measuring the success of a company’s digital marketing campaign is by looking at the level of interaction between the company and people.
This is tracking the volume of conversions as a result of online campaign. Some of the things to track include e-commerce transactions, newsletter signup, and lead form signup.
- Return on Investment (ROI)
The value of a conversion is weighed against the cost of maintaining a marketing program to know whether the effort was worth the return.
These are some of the best ways of measuring success of digital marketing for a company