Basics of Digital Marketing Analysis
FIRM FIXED IDEAS
One of the most effective steps you can take as a marketer right now is to start tracking the data of your most important key performance indicators.
“Prove it to me, and you’ll get the budget.” – An old boss
Digital marketing analysis can be broken down for beginners and the advanced but only if we are talking about the key performance indicators. If you want insight you need data and not all data is the same you need the right metrics.
Let’s talk about a few of the most important metrics for each stage of the funnel and why these might be key performance metrics for your own business. My goal here is to give you the tools you need to get started and figure this out on your own and apply it to your own situation.
Visits is one of the most important metrics because it is the knock at the door, the first glance, and the moment that your brand makes first contact and brings them back for more. You want to track these because they represent the beginning of the funnel and come in handy for optimizing traffic.
Tip: Not all visitors are the same – unique visitors are not the same as sessions or page views.
Leads are all too common a metric that is lumped into one fat category. Leads are vital but my suggestion is that not all leads are created equal – they must be segmented as early as possible. If your leads came from newsletters, products, or opt-ins then tag or segment them as such.
Tip: Attribute your leads using UTM parameters and hidden fields in forms as often as possible.
The final metric is usually one reserved for the CFO or the CEO – it’s also one that winds up sucking the life out of the directors and managers at the end of a month or quarter. The ROI can be tracked weekly, daily, and monthly, however you like – but you must track it. Learn how and add it.
Tip: I would recommend that you stick to tracking the return on investment from marketing activities only and then adding it to the overall accounting picture at the end.
Some additional suggestions for KPI metrics to consider tracking are: Audiences, Likes, Shares, Followers, Backlinks, CPC, and many more.
I’ve created a special marketing analysis template to get you started. Head on over to the shop or click the link below to learn more.