How do you determine if your marketing is working? There are so many metrics you can gather from digital channels as well as your website that will tell you the results of your campaigns. Below are some of the most important metrics we review as well as how to read your campaign data to determine if your marketing is really working.
For the sake of this blog, let's assume your goal is to increase online sales, and to do this you are running online campaigns, whether that be on social media, Google ads, or another online platform. Here are a few of the key metrics you should use to determine your ad's success:
How To Determine If Your Marketing Is Working
We use a variety of metrics to calculate online sales. Besides the obvious of looking at the sales you made online, let's start with clicks on ads. The average click-through-rate (CTR) is 2% (we often find this lower on social platforms however), so that means for every 100 people that see your ad, 2% click on it. So one of the first metrics we'll check is the CTR, which will determine if the ad is relevant to the audience selected.
Once we've looked at the CTR, we look at the conversions after they click the ad. After a customer clicks your ad, how many completed a purchase, subscribed to your email list, or contacted you in some way. The average conversion rate is again around the 2% mark. If we're seeing most people are not acting after clicking on the ad, that could prove the customer isn't finding what they thought they would when clicking the ad, or the call-to-action isn't strong enough for them to follow through with the desired action.
Bounce rate is the percentage of people who landed on your website and left without looking at any other pages of your website. Now if you're directing customers to a landing page where they can't go anywhere else, this metric isn't applicable. But if your goal is online sales and they don't browse your products or go to the online cart, bounce rate can show us again that your ad may not be relevant to what customers are finding on your website, helping you determine if your marketing is working.
I would venture to say these metrics aren't as important as the ones previously mentioned, however they do show value if you are wanting to increase brand awareness. "Reach" and "impressions" can be confused, but this is where they differ: reach is the number of people that saw your ad, whereas impressions are the number of times your ad was seen. For example, if one person saw your ad three times, your reach would be one and your impressions would be three. By increasing these within a relevant target area, you can increase brand awareness which can in turn increase sales in the long run.
How To Find Your Conversion Rate On Your Website
One thing you may have noticed as you read this blog is that it's really difficult to track the conversion rate on your website. This is where our team can help. We set up tracking on your website to determine if your sales oriented goals are being met on your website. This includes tracking the number of times a request a quote form was submitted, what campaign someone came from when they called you, and so much more. Contact us to track your return on investment on your next marketing campaign and know which marketing avenues you should be pursuing based on hard data.