Measuring your marketing efforts up against the
right metrics can be majorly beneficial to your brand.
Not only will it help you to identify what
is working but it can also help you note where you can improve in your work in the future.
However, the KPIs you look at mustn’t be
vanity metrics — these don’t
actually give you any solid insights, they just make your brand look good.
An example of a vanity metric would be if your webpage has 1 000 registered accounts but only 100 monthly active users. This is misleading because it is not giving an accurate depiction of how your audience is interacting with your webpage.
So what are the right metrics to look at in a marketing context?
Let’s find out:
1. Brand awareness
When trying to measure the effectiveness of your digital marketing efforts, the first metric you should look at is brand awareness. This is the first stage of the sales funnel
after all.
But why is this an important metric to track?
Well, you need to know when your business is being mentioned to determine how recognisable your brand is amongst your target audience.
And what better (
and easier) way of getting this insight than by using a media monitoring service to track brand mentions?
Additionally, features like
Social Stream+ can help you identify brand mentions on platforms such as Facebook Media, Twitter and Youtube.
2. Share of voice
Share of Voice (SOV) helps to work out where your brand is positioned in the market, factoring in things like presence and conversation volume. In a digital marketing context, SoV factors in things like the business’ reach online and website traffic.
SOV is also an essential metric to measure
how you stack up to your
competitors. And in which areas your brand might be lacking.
If you gain insight into your competitor’s SOV, you can gauge how much money they’re making and where your company stands in the market.
It is also a key metric to measure for insight into content performance against those of your competitors.
3. Web traffic
If you are looking to measure the performance of a digital marketing campaign, you
need to look at web traffic.
As the drive behind every campaign is to grow brand awareness and convert leads into sales, it is key to look at how much traffic your website is getting throughout its run.
This will give you insight into whether your digital marketing efforts are fruitful in driving users to your site. If not, it may be an indicator that your campaign isn't being received well by your audience.
If you want further insight into how your campaigns are performing, you should give
campaign tracking a go.
This will allow you to track keywords relating to your campaign — or any product launches — to see if people are talking about it and what
exactly they are saying.
Additionally, you can gain deeper insight into the performance of your editorial media, like your website or blog, with Newsclip’s thorough monitoring service.
We utilise the IAB (Interactive Advertising Bureau) and Alexa, an Amazon company, to retrieve data for online media to gain clearer understanding of figures like page impressions and the number of unique browsers accessing your web page.
Although many often confuse the two,
page impressions refer to the number of times a user views a specific page/article on a website. This looks at the specific page/article in question.
Daily unique browsers, on the other hand, refers to the number of unique browsers who visit a website once or more a day. Regardless of the specific page/article in question.
4. Customer engagement
So, now you have insight into brand mentions, its Share of Voice and how much traffic your campaigns are driving towards your website; but how is it being
perceived by your audience?
Enter
customer engagement. As everyone has different perceptions of what interactions with your clientele count as ‘engagement’, this term can be tricky to define and unique to each business.
In essence, this metric looks at how the consumer chooses to interact with your brand.
In a digital marketing context, customer engagement looks at
how your audience interacts with your brand on channels like social media or your website.
Engagement includes:
- comments, likes and shares on social media
- your website’s bounce rate
- time spent on site
- pages per online session
- monthly active users, and
- return user frequency
It is
crucial that you track this metric to understand how consumers are engaging with your content online, as this will tell you what’s working and where there are gaps in your customer’s online journey. And it is no secret that their journey should be an amazing experience, otherwise, they won’t be back.
This will allow you to tailor your approach to what your audience wants to see, helping to maintain engagement.
Additionally, if you’re consistently able to provide clients with an informative, seamless and memorable online experience, you will keep them coming back time and time again.
Want to know more about how media monitoring can boost your marketing efforts? Then be sure to check out
How media monitoring can help to improve your content strategy.