In the digital marketing world creating successful marketing campaigns does not end once the campaign launches. In fact, once the campaign launches the next part is just as important. When the campaign launches it is very important to identify Key Performance Indicators (KPI) that you want to watch and to define some KPI goals you want your campaign to hit.
As mentioned, it is very important to identify KPI’s that align with your company’s goals. It would be a waste of time to focus on online sales if your company did not have an online ordering system. This means you need to establish which KPI’s align with your campaign and goals. In order to do this you need to establish what your campaign is trying to do. For example is your campaign trying to sell products? Increase website visits? Drive people to your Social Media?
Let’s look at how KPI’s can be used for a marketing campaign. If Company A creates a marketing campaign that includes using their Social Media accounts to drive traffic to their website and specific pages on their website, we need to establish what KPI’s are best to look at. Once great way this can be done is using Google Analytics and focusing on specific things. In this example Company A will want to look at the following 3 things:
Click-Through Rate (CTR): This is a great analytic to focus on and see how many users are clicking links listed in Google ads, Social Posts, Social profiles. This KPI is a great way to see how effective your campaign is. If your main goal is to have the user click the link to get to your website you will want a high CTR % showing that users are in fact clicking the link. If your CTR% is low, you will need to examine your campaign and see why users are not clicking the link. Is your link broken? Is it hidden? Is it confusing? (CTR, 2021).
Bounce Rate: This is another great KPI to focus on. Bounce rate “indicates the percentage of visitors that come to the site and leave versus those who come and view multiple pages” (Bounce rate, 2021). What this means is of the users who click your link and visit your website, how many stay on the site versus leaving right after they visit. If your goal is to have users visit multiple pages on your website then you want a low bounce rate as you want users to stay on your site. If you have a high bounce rate you need to see if it is ok given the landing page. For example, if your campaign is about driving users to a specific page on your site and you only care that they are seeing that one page then a high bounce rate is ok. If your goal is to have them visit multiple pages then a high bounce rate means that either the wrong users are seeing the campaign, the webpage/site is confusing.
Acquisitions: This is a great section to pay attention to as this will show you where users are coming from. This would be a great KPI for Company A to watch as it will show if the campaign is successful. If they are running the campaign on Social media and they notice most web traffic is coming from another source then they can look into why users aren’t visiting the site from the social posts. This is a good way to make sure campaigns are effective and to make sure money is not being wasted if users are not finding the site through the sources you are putting the money into.
Refrences:
Bounce Rate. (2022, January 21). Bounce rate. Corporate Finance Institute. Retrieved January 23, 2022, from https://corporatefinanceinstitute.com/resources/knowledge/other/bounce-rate/
CTR. (2022, January 21). Click-through rate (CTR). Corporate Finance Institute. Retrieved January 23, 2022, from https://corporatefinanceinstitute.com/resources/knowledge/ecommerce-saas/click-through-rate-ctr/
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