Websites are becoming more and more important in the consumer journey. It is, therefore, essential to measure digital marketing’s effectiveness. This is a shared burden between digital media sellers and business owners looking to maximize their Return On Investment (ROI). Angelo Babb is a cryptocurrency expert and entrepreneur who shares virtual metrics that can be used to measure the success of a business.
Since most people don’t click ads, but do find their way to websites after being exposed to them. Clicks are only a partial measure of the impact of digital ads. Babb has compiled some metrics to help others gain a deeper understanding of the effectiveness and efficiency of their digital marketing efforts.
The first is based upon overall traffic. This will tell business operators how many people visited their site or interacted with it in total. This can be broken down into source/medium which will explain where the traffic is coming from.
Babb says, “Overall traffic will show you where you stand. It is a smart idea to monitor and compare your overall traffic over time. It’s possible to start to notice similar patterns, such as seasonality. This can help you in the future. If you do a good job, you should see a steady increase in traffic from all sources.”
There’s also channel-specific traffic. These metrics are dependent on where people were before they arrived at your site. Channel is the method they used to access your site. For large-scale digital marketing campaigns, it is important to measure the primary media. This allows you to determine what’s causing a drop in visits, if any, and where your campaign is excelling.
It’s possible to analyze data from several channels. The most direct is when someone directly types in a URL to visit a site. Because they’ve been to the site before, the multifunction box will automatically populate.
Referrals refer to people who visited a site via another website. This is called external traffic. To get to the site, people followed a link from another domain.
People who searched on Google or other search engines and clicked on a site in the organic (unpaid) search results. Social is anyone who found the website via a social media platform. This is a great indicator of the overall effectiveness and efficiency of a platform’s SEO, social interaction, and content campaigns.
Total conversions is another useful metric. A “conversion” is a person who converts from a user to paying customer. To drive customers deeper into our funnels, it’s important to monitor engagement on the websites. This is where users perform any action they wish, such as filling out a form, clicking a button to download, signing up for a trial or downloading an eBook, or creating an account.
Babb adds, “Low conversions could indicate poor design, unattractive offers or a disinterested customer base. Conversion tracking allows businesses to pinpoint which parts people use on the site, and which ones they don’t.”
This information is also useful in assessing the quality of the UX, and other creative areas. Low conversion rates could be a sign that they need to revise the sales funnel, or that they should invest in a website overhaul.
The site’s bounce ratio is the final factor. This is the average number of visitors who leave the site after only visiting one page (the “entry” page). Every page can have a different bounce rate and different pages will have different bounce rates.
Not all bounce rates are equal. However, Babb points out that bounce rate can be used to determine if the content is appropriate or if the site has the right landing pages for a paid campaign.
The bounce rate of a page might be high. This is because visitors leave after they have seen the page and found the information they need. Maybe they called to become paying customers after clicking on a contact page. Users who have problems with site design or usability may abandon the site on the first page.