KPIs Unpacked

KPIs or the Key Performance Indicators is a collective term used to denote all the analytical metrics that you have to keep a keen eye on to make this a successful marketing campaign. 

The world of digital marketing is filled with a wide variety of KPIs. Digital Marketing has a lot of analytical components along with a lot of creative ones. Every campaign, be it Social Media, Email Marketing, Search Engine Optimization (SEO), or Paid Advertisements (PPC) have one or more metrics that you can track to get an idea of how is the campaign performing. Those metrics are called KPIs.

I will try to consolidate all the Key Performance Indicators in this article but I am sure that I am bound to leave a few, just because there are so many of them that it is difficult to list them all. 

KPIs in Digital Markeitng

Website Analytics

A website, as discussed in the previous blog, is your home on the internet. Every effort in digital marketing is put in to have more and relevant traffic on your website. To keep a see of how the users are interacting with your business, KPIs are very important and many platforms, like google analytics and google search console, helps in keeping track.

Daily Visits

This is the total number of unique visits to your website in a day. You will also be able to track the busiest times of the day, and breakdown of the visits based on gender, age group, geographic location, and other demographic metrics.  

Bounce Rate

Bounce rate is the percentage of visitors who navigate away from your site after viewing only one page. A higher bounce rate is generally the sign of your home page being boring or off-putting. By monitoring this metric you will be able to make the necessary changes to your home page so that more people start engaging with your website. 

Engagement time

The average time that a user spends on your website. A higher number here will tell you if the user is liking the content on your website. You make your website more engaging and the content on it more useful, you will see your engagement time rise.

Social Media Metrics

Social media companies are essentially advertising companies and they want more people to stay on their platforms for a longer duration of time. Your posts on social media should be engaging enough that it keeps users on the platform. Depending on the niche of your business you will need to focus on different social media platforms, for example, Linkedin works best for B2B businesses, while Facebook and Instagram work best for direct-to-consumer businesses. Most of the metrics are similar for all the social media platforms, but some are platform-specific.

Shares

If your social media content is informative and easy to understand, people will share it with their friends, and more people will know about your business. 

Comments

The more people talk in the comments of your posts, the more platforms think that your content is worth sharing and shown to other people.

Reach

Reach tells you how many people have your post been shown to. The more people will engage with your content the more reach will it have.

Saves (Instagram only)

Instagram has a “Save button” on its post. It boosts your reach because it means that your post was informative enough that people want to re-visit. 

Profile visits and Searches-you-Appeared-in (Linkedin only)

If you are a business owner that offers B2B services, you having appeared on more searches and more people visiting your profile and checking it out gives your business credibility that is helpful when you are pitching to a potential client.

PPC or Paid Advertisements

The quality of your PPC(Pay-Per-Click) ad will determine the return-on-investment (ROI). It is very important to make the ad high in quality so that you don taste your money. There are only two major metrics that you really need to focus on when it comes to PPC ads.

Click-Thru Rate (CTR)

It is defined as the percentage of people clicking on the ad after they have looked at it. For the CTR to go higher you need to have an attractive headline and description in the ads. It also helps if you have one or more ad extensions.

Conversion Rate

This is the number of people landing on your website after they looked at your ad and become your clients. To have a high conversion rate you need to have a robust sales funnel and an engaging landing page.

Email Marketing

As I have said multiple times, Email marketing is the best form of digital marketing. It is for a very good reason, there is not a lot of work and gives amazing results. As with PPC, there are only two KPIs that you need to pay attention to for a successful email marketing campaign.

Open Rate

This is the percentage of people that opened your email for the total number of emails sent. To increase the Open Rate, you need to make sure that the email has a catchy subject line and the first sentence. It is a good idea to add the recipients’ names in the first line to make the email more personal.

Conversion Rate

Similar to the PPC KPI, the conversion rate is the percentage of people that convener into paying clients after they opened your email. To keep your conversion rate high, you need to have a robust sales funnel that is separate from your PPC sales funnel (For most businesses). 

Conclusion

Digital marketing landscape is wide and has a lot of different parts. To do justice to your business, it is important for everybody involved to do the best job. 

Monitoring these KPIs and updating your marketing strategy as you go along is the best way forward.