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What digital metrics are you measuring?

In the ever-evolving landscape of digital marketing, CEOs shoulder the responsibility of steering their organisations toward success. Analysing and monitoring the right metrics is crucial to ensure you have the best data to work with, to inform decision making.

Some of the best tools we find to help visualise the digital assets within organistions is Looker Data studio developed by Google.

Looker Data Studio is a powerful business intelligence (BI) and data visualisation platform designed to empower organisations to explore, analyse, and share insights from their data. It provides users with intuitive tools to access, manipulate, and visualise data, allowing them to make informed decisions and drive business growth.

Key features of Looker Data Studio include:

Data Exploration: Users can easily explore and navigate through large datasets, discovering trends, patterns, and insights with ease.

Customisable Dashboards: Looker Data Studio enables users to create customisable dashboards tailored to their specific needs and preferences. These dashboards can display key metrics, KPIs, and visualisations, providing a comprehensive overview of business performance.

Data Modeling: The platform offers robust data modeling capabilities, allowing users to define relationships, calculations, and metrics within their datasets. This enables users to derive meaningful insights and perform advanced analysis on their data.

Collaboration Tools: Looker Data Studio facilitates collaboration among team members by allowing them to share insights, collaborate on analyses, and annotate visualisations. This fosters data-driven decision-making across the organisation.

Integration: The platform seamlessly integrates with various data sources, including databases, data warehouses, and third-party applications. This enables users to access and analyse data from multiple sources in one unified environment.

Scalability and Performance: Looker Data Studio is designed to scale with the needs of growing organisations, offering high performance and reliability even with large volumes of data.

Overall, Looker Data Studio empowers organisations to leverage their data effectively, driving actionable insights and informed decision-making across all levels of the business.

One common pitfall observed in failed digital strategies is failing to track the customer journey through monitoring key events. Tracking the customer journey alone is also not enough the data must also be analysed and converted into actionable steps to effect online behavioral change and drive tangible results.

By tracking, analysing and planning a coherent roadmap, organisations can focus their efforts on initiatives that promise significant returns.

Here are key metrics to track for measuring success in the realm of digital marketing and why they matter.

Mapping Digital Success: Tracking Key Metrics

1. Channel Traffic
Understanding how customers interact with your brand across various platforms is paramount. Channel traffic metrics unveil valuable insights into engagement levels, campaign performance, and conversion origins. By analysing channel traffic, businesses gain a deeper understanding of their audience, optimising marketing efforts for maximum effectiveness.

2. Website Visits
Website visits serve as a barometer for evaluating campaign performance and driving meaningful traffic. By monitoring site visits, businesses glean insights into user engagement, campaign ROI, and visitor behavior. This data fuels optimisation efforts, enhancing user experience and boosting conversion rates.

3. New Visitors Vs. Return Visitors
Balancing new visitor acquisition with customer retention is crucial. Measuring the influx of new visitors and the loyalty of return visitors provides insights into marketing strategies’ effectiveness and customer engagement levels. Optimising strategies based on these metrics ensures sustainable growth and brand loyalty.

4. Bounce Rate
Bounce rate signifies a website’s ability to captivate and retain visitors. High bounce rates necessitate improvements in content quality and load times, while low bounce rates indicate effective engagement strategies. By tracking bounce rates, marketers refine user experiences and drive higher engagement.

5. Click-Through Rate (CTR)
CTR measures the effectiveness of campaigns in engaging users and driving traffic. As a primary KPI, CTR informs campaign optimisation efforts, aiding in A/B testing and content refinement. Understanding CTR variations empowers marketers to tailor campaigns for maximum impact.

6. Cost per visitor (CPV) And Revenue per Visitor (RPV)
CPV and RPV provide comprehensive insights into campaign performance and ROI. By tracking these metrics, marketers identify areas of success and opportunities for improvement. Optimising spend based on CPV and RPV ensures campaigns deliver desired outcomes and maximise returns.

7. Mobile Traffic
Mobile traffic metrics illuminate campaign performance across devices, guiding optimisation efforts. Understanding mobile preferences enables tailored content creation, enhancing user experience and driving desired outcomes.

8. Inbound Links To Website
Inbound links bolster website visibility and search engine performance. Monitoring inbound links from reputable sources enhances website trustworthiness and drives organic traffic. Incorporating inbound link metrics informs SEO strategies, elevating website rankings and conversion rates.

9. Engagement Rate
Engagement rate measures user interest and content reception, guiding campaign adjustments. By tracking engagement metrics, marketers refine strategies to maximise reach and visibility. Identifying engaged users fosters customer loyalty and retention, driving long-term success.

10. Cost Per Conversion
Cost per conversion illuminates campaign effectiveness and ROI. By understanding acquisition costs and conversion rates, businesses optimise marketing spend for maximum profitability. Tracking cost per conversion informs resource allocation, ensuring marketing efforts yield tangible results.

Enhancing the Customer Journey: Tracking Key Events
In addition to monitoring key metrics, tracking key events along the customer journey is essential. Understanding pivotal moments such as sign-ups, purchases, and interactions with specific content enables businesses to tailor remarketing campaigns effectively. By leveraging insights from key events, marketers can create personalised experiences that resonate with customers, driving engagement and conversions.

Conclusion
In the dynamic realm of digital marketing, success hinges on strategic planning, meticulous measurement, and effective event tracking. By prioritising bold initiatives, tracking key metrics, and understanding pivotal events along the customer journey, organisations can navigate the digital landscape with confidence, driving sustainable growth and maximising ROI. Embrace the journey of mapping before measuring, and unlock the full potential of your digital marketing endeavors.

If you would like support with establishing your digital data infrastructure, to deliver key data measurements and insights contact us on 098 30300 or email us at info@boldcraftmarketing.com

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