Key Performance Indicators (KPI) are what marketers are using to measure engagement levels within their campaigns. The platforms used (first and third party) provide tools that allow these marketers a deep insight and wealth of data that aid in the alignment of these campaigns.
The important metrics are still those that are basic.
- Conversion Rate
Conversion Rate is a given as it helps to determine the effectiveness of all that is going on within a marketing/advertising campaign. The conversion rate is the “holy grail” metric because it’s the one directly related to profitability.
A conversion rate is also a metric that aids in the alignment of goals. Knowing certain actions could improve conversion rate will lead to a higher focus on the tasks and work involved with improving the metric. The conversion rate should be the main focus of your measurements.
Sharing is amplifies a campaigns ability to reach new audiences. Conversion rate greatly relies on your ability to drive leads through the campaign and the easiest way to do this is by engaging your audience and enticing them to share content (and ads) with others.
Sharing, such as through the simple act of asking for it or including social sharing buttons, comes at a dirt cheap cost for your budget which is why it’s such a wonderful metric to understand. Understanding this metric allows you peer into what works well and how individuals react so you may improve upon your campaign to reach a greater amount of people.
Trafficis certainly a great metric to measure but it’s not the end-all, be-all. Without traffic, after all, the campaigns will fall flat because it isn’t reaching the right people.
Measuring traffic allows you to understand a lot about your audience and work:
- Where they come from
- What pages they’re finding
- How long they’re engaging
- Why they may exit
- What social likes
Traffic is a good indicator that you’re moving in the right direction but it’s only valuable if you understand how it interacts with sharing and conversion rates. Pair all three together and you’ll not only know your audience but you’ll know what’s needed to turn them from an interested lead into a buyer.
Metrics, metrics, metrics? It’s not exactly the most thrilling subject to learn and keep track of when you’re a business owner (seeing you have so much on your plate). You understand its importance but it can be very time consuming. Why not hand it over to the professionals? Get in touch with us at adQuadrant and we’ll show you how to put metrics to good use (and show you numbers that will bring a smile to your face and a bulge to your profits).