Gauge 2019 ROI with Effective Digital Marketing Metrics like keyword optimization, traffic segmentation by source and minimizing customer acquisition cost. Measuring these metrics will help a digital marketing company to ensure optimum results.
Organizations want to reach and engage with their target audience. This is where the Digital Marketing or online marketing service has proved to be a dynamic tool. Currently, businesses are using digital marketing strategy for growing revenues and getting an optimum return on investments. Before delving deeper into the ways of gauging ROI with effective digital marketing strategies in 2019, let’s take a quick look at the scenario last year.
Significant Statistics – 2018 – Now, what are the defining moments in the last year? As per Blue Opps, 93% website traffic came from search engines. GlobalStats states that 52.52% of all searches start with a mobile device. According to Social Media Today, near about 20-40% customers spend more on brands with an engaging social media presence. With a projection of about 72% sales on a mobile device in 2019 and an increasing cyberspace population, digital marketers are facing an enormous challenge. Starting from SEO, content development, email marketing to social media, keeping track of all data can be an overwhelming task. So, you need to keep track of metrics. In order to gauge your ROI and capitalize on resource allocation, a digital marketing company should keep an eye on some of the metrics:
Let’s weigh up the metrics that a digital marketing company should pay heed to this year:
- Optimization of the Keywords – Remember that keywords are the building blocks of SEO. A digital marketing company or an online marketing service provider should know what the prospective customers are looking for and why it is important to create the content that will attract traffic and lead to conversion. This is the fulfillment of the search intent, which can mainly be classified as informational, navigational or transactional. A variety of SEO tools help you identify the keywords that work best. A significant tactic is to narrow down the long tail keywords. Moreover, specific search phrases can be used for targeting a niche demographic. However, remember that keyword optimization is about outranking the competition, which needs a detailed look at the rival keywords.
- Traffic Segmentation by Source – It could be tempting to rejoice millions of total visits and hail your marketing plan to be a big success. However, in order to properly evaluate, your visitor traffic should be broken down by source. This will help you to search channels that are rewarding as well as the ones that need improvement. Major traffic sources can be divided as organic, paid, direct, referral or social. A diverse traffic source indicates a well-functioning digital strategy, revealing that your content is reaching its audience across multiple touch points. You should be able to narrow down where your ideal traffic is coming from.
- Minimizing Customer Acquisition Cost – Customer acquisition cost is the amount spent on converting a lead into a customer. This is usually calculated by adding up the costs incurred for a campaign and dividing it by the total number of customers it generated. If you know your Customer Acquisition Cost, you can determine whether your company is earning sufficient revenue or not. If this cost can be reduced, the profit margins will be higher. Ensure to compute your Customer Acquisition Cost in a specific manner like narrowing down channel and time-period. You can then acquaint yourself with customer acquisition efficiency analysis for gaining an accurate picture.
Pay heed to these digital marketing metrics and gauge your ROI in 2019. Measuring these metrics will surely help a digital marketing company to ensure optimum results.