Tracking the Digital Performance of a Marketing Campaign is important to make the best use of available resources and get the desired results. There can be plenty of ways to gauge Digital Performance, and some are better than others. Here we tell you the 5 best ways to do it.
One of the best parts of Digital Marketing is how it leaves a footprint. Any time a user clicks on your website, the time they spend and what they buy can be tracked. This data is used to check how successful your digital advertising campaign has been. If you cannot measure your efforts, there is no way to know what you need to improve. Your campaign may be failing horribly, but you would have no idea why, and with Digital Advertising, it could be one of many things going wrong, but there is no need to sweat it. With the right tools, you can track your performance and optimise your campaign accordingly.
Importance of Tracking Your Digital Performance
Before we get into how exactly you can track your Digital Performance, let us first discuss what it is and why it is necessary.
What it Means
Many metrics go into tracking Digital Performance. These Digital Marketing metrics are used to measure how well your digital advertisements are doing. Over time these values show trends in consumer behaviour. As a business owner, you can then look at these trends and then tweak and change your marketing strategies.
Why is it Important
Tracking your Digital Marketing Performance tells you how well your ad campaign is doing and the quality of traffic and engagement the campaign is generating. For example, a page view is a good metric to look at. It refers to the number of independent pages any visitor to your website clicks. Ideally, your page views should be higher than your website’s number of unique visitors. This means that your content is engaging consumers. Thus, they are clicking on multiple pages to look for more information.
Helps in Decision-Making
As mentioned above, the reason for tracking Digital Performance is to aid decision-making. As a business owner, once you have invested in Digital Marketing, you can look at trends. These trends will be indicators of what you should change in your strategy, whether to invest more or cut your losses now. Even if you are seeing a positive response to your ad campaigns, it can still be continuously be optimised. You can make changes in real-time and see the effects on your campaign. This process then begins again with reading data, decision making and optimisation.
Helps Diagnose any Arising Issues
Things do not always go as planned. For example, you may have done extensive market research, developed an engaging marketing campaign and thoroughly invested in it, but still may not be seeing the engagement you hoped for. The answer to this problem can also be found within the data you get from tracking the Digital Performance of your business.
Helps Keep up With Trends
The reason for tracking Digital Performance is to aid decision-making.
The data you get from all the users who access your website or blog will show trends in the long run. These trends are indicators of how users behave and what they are interested in. You can use this information to further connect with your audience by providing what they want. You can also stay ahead of your competitors as you would have a better indication of where the current market is and in which direction it may be headed.
5 Ways to Track Your Digital Performance
Now that you are well acquainted with what tracking is and why it is so vital for your business, here are some ways you can track your business’s Digital Performance.
1- Online Sales
This is the most straightforward metric. The more sales you make through your online channels, the better your business performs. More sales mean more users are coming to your website who are engaged and ready to make a purchase. This means that your Digital Marketing efforts are indeed paying off.
2- Improved ROI
ROI shows how much money you are making compared to your investments toward Digital Marketing.
Your Digital Marketing campaign should be tracking ROI or return on investments. ROI shows how much money you are making compared to your investments toward Digital Marketing. If your ROI is positive, that means your marketing strategies are working. Otherwise, a negative ROI means you need to re-strategise and see where you are going wrong. This is where other Digital Marketing metrics come in; they tell you where the problem may lie.
3- Digital Advertising Analytics
These detailed analytics are tools you can use to gather and report on data from users. This data is collected from digital channels that you are currently advertising on. These channels include social media platforms such as Facebook, Instagram and LinkedIn.
Competitive Landscape Analytics
This metric tells you how well your competitors reach, engage, and retain consumers. Likewise, you can also apply these strategies by looking at how successful brands are distributing content and adding value to their brand beyond sales.
Customer Behaviour Analytics
Customer behaviour includes how your ideal customers act across different channels and interact with your brand. By understanding consumer behaviour, you can further optimise your digital advertising campaigns to improve the customer experience.
These are consumer behaviours translated into actual business data. This data shows how well your marketing campaign is performing by showing sales made, customers retained and whether your customers are referring to your business.
Data gathered through your marketing campaign will begin to highlight trends and patterns in the long run. In addition, this behavioural and chronological data can be used by you to predict future trends and develop new strategies.
4- Digital Marketing Metrics
Below are some of the types of marketing analytics to look out for. These can be used to evaluate past performances and develop improvements to your marketing efforts.
Conversions are the number of visitors that actually purchases an item from your online channel. They converted from a visitor to a lead.
The number of visitors your website has at a given time period is an indicator of good reach.
This metric shows how consumers interact with your brand. On social media channels, engagement can be seen from “likes”, “comments,” and “shares”. You can even see the number of clicks a user made on other digital channels.
A click-through rate tells how many links a user clicked on after visiting the main page. Again, this is a good indicator of how engaging your brand is.
ROAS – Return on Ad Spend
This is a similar metric to ROI. ROAS tells you how much money you have earned per money spent on advertisements.
5- Multi-Channel Analytics Tools
Once the business has grown in size, Digital Advertising is done through multiple Digital Channels.
Once the business has grown in size, Digital Advertising is done through multiple Digital Channels. Therefore it would be wise to invest in an excellent multi-channel analytics tool that will gather data from all channels which are a part of your advertising campaign.
This is an ideal analytics tool for small or mid-size businesses. You can connect multiple data sources to aggregate and analyse all the information.
Domo is a mobile cloud-based data analytic tool. Since it is mobile, you can use it on the go to check up on all aspects of your business.
Supermetrics is also a multi-channel data tool that you can use in conjunction with Google Sheets, Google Data Studio and various other BI tools. It is also a very user-friendly and easy tool to use.
The internet is a massive place, and many businesses can end up wasting resources on failed digital advertising campaigns. Most of the time, these businesses have no idea why their digital ads failed. This is because they are not tracking their performance. By tracking your Digital Marketing Performance, you ensure that you constantly improve and evolve with the ever-changing market. In addition, adapting to customer preferences and behaviours is key to running a successful business and marketing campaign.
Lastly, all these metrics are just there to help you enhance the user experience. As a result, you can develop a brand beyond just a simple exchange of goods. Such a brand becomes recognisable and remains in the minds of consumers, thus making your brand memorable.
Tracking your Digital Marketing Performance tells you how well your ad campaign is doing and the quality of traffic and engagement the campaign is generating.
Tracking Digital Performance helps in decision making, diagnosing any arising issues, and keeping up with trends.
Sales are the most straightforward metric of Digital Advertising.
If your ROI is positive, that means your marketing strategies are working.
Digital Advertising Analytics give you data on Digital Performance. These include competitive landscape analytics, customer behaviour analytics, performance analytics, and predictive analytics.
Digital Marketing metrics help evaluate past performances and develop improvements to your marketing efforts. These include conversions, traffic, engagement, click-through rate, and return on ad spend.
Multi-Channel Analytics Tools are useful for businesses that have grown in size. These tools include Improvado, Domo, and Supermetrics.