Name: THE BEST 6 DIGITAL MARKETING METRICS YOUR BOSS CARES ABOUT - eDigital Agency
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THE BEST 6 DIGITAL MARKETING METRICS YOUR BOSS CARES ABOUT - eDigital Agency

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Skip to contentPrevious NextDiscover the best digital marketing metrics your boss only cares about. Boost your leads and sales by measuring the right metrics. Below you will find a list of some of the best and most important digital marketing metrics you should be tracking.A digital marketing metric is measurable values used by marketing teams to demonstrate the effectiveness of digital marketing campaigns to a company’s overall business objectives.The reality is that many companies are not quite there yet, using digital marketing metrics at odds with their overall business goals.Some recent surveys demonstrate that marketers lean on metrics and data that are easily available, rather than those aligned with business strategy.In Australia, over half (52 per cent) said they used these metrics because “they are included in the Digital Marketing technologies we use”, or because “they are standard metrics for measuring Digital Marketing”.Marketers then should align business goals with their digital marketing objectives and track progress accordingly.As the customer journey becomes increasingly digital and social, it’s vital for businesses to measure metrics along the customer journey – either by using different measurement tools and platforms or by collaborating with teams across the business.customer journey stages funnel diagram chart frameworkWith so much digital marketing and social media marketing information available, it can get quite easy to get distracted with fluffy metrics that do not really add up to the bottom line of your business.WHO CAN USE YOUR DIGITAL MARKETING METRICSMarketers can use Digital and Social to extract customer insights, ensure their data is shared across teams and departments, and make it actionable in multiple areas of the business including:Below is a checklist for you before you define your key Digital Marketing Metrics:In saying that, we would like to introduce you to some of the most popular metrics your CEO will likely care about.The rest is a distraction!A Macro metric provides a view across the entire marketing function. These are the top metrics your boss will be interested in.1. ALTV – AVERAGE LIFETIME VALUEALTV formula = Average purchase value MULTIPLY BY the Average Purchase Frequency Rate.Why: There is no other metric more important in marketing than this one. Over time, this metric will tell you whether you are getting customers to spend more on your brands. It is likely to be the most important metric because it will ask your marketing activities to drive customers to buy either:&nbsp; a) buy more often, b) buy more quantities or c) buy more premium versions (more expensive ones).Tip: The formula for purchase frequency is: Number of orders (365 days) / Number of unique customers (365 days)2. ACPL – AVERAGE COST PER LEADCPL formula =&nbsp;Digital Marketing Costs / Total Leads.Why: My second favourite. All Digital Marketers should be accountable for it. This what Digital Marketing should do for your business, create interest in your services or products.Tip: Calculate this per Digital Marketing Channel: SEO, SEM (Adwords), Social Media, Affiliates, Email Marketing, Display Advertising, etc.3. CPA – AVERAGE COST PER ACQUISITIONCPA formula =&nbsp;Total Digital Marketing Channel Costs / Total New Sales from that ChannelWhy: If you are in B2B your sales team play a big role in converting the leads marketing brings. Sales might say: “Marketing does not bring good leads” but you – the marketer – might say: Sales team are crap at converting our leads”. It is important to ensure your sales team are happy with the support marketing is generating.If you are in B2C, your level of acquisition might not only depend on your marketing but also on:The above factors might be affecting your cost per acquisition per channel.Tip: As per CPL, you should calculate this per Digital Marketing Channel: SEO, SEM (Adwords), Social Media, Affiliates, Email Marketing, Display Advertising, etc.Note: CPA can also be called: Cost to Acquire a Customer (CAC)4. ROAS – RETURN ON AD SPENDROAS formula =&nbsp;&nbsp;Revenue from Advertising Source / Cost of Advertising Source.Why: It is important to have clear what channels return the most of your Digital Advertising dollars. So you can re-calibrate your budget split per channelTip: Digital Media Attribution is key, otherwise you end up shifting your budget to high recurring channels and few bucks on the top of the purchase funnel: Category Need, Awareness, comparison.5. ROI – RETURN ON INVESTMENTROI formula =&nbsp;Total profit generated from Digital Marketing / Total Digital Marketing investment.Why: Is it worth having a Digital Marketing Department in your business? ROI will tell you.Tip: You will need strong Digital Marketing Tracking in all areas to ensure you are accounting for all revenue, expenses and costs.6. CR – CONVERSION RATECR formula =&nbsp;Total Visits to your website / Total website sales.You should also calculate the conversion rate for your top lead generation landing pages. The formula will be:CR = Total leads from that specific landing page/ Total Visits to your landing pageWhy: Because increasing this metric means your website usability, navigation, content or product information is improving.Tip: Conversion Rate might also spot seasonalities in your business or days and times people tend to convert the most. You can adjust your digital marketing dollars accordingly.If you or your boss is a control freak and really want to dig into your Digital Marketing Performance, she/he might be happy to see how you are progressing with the below metrics…ACPV – AVERAGE COST PER VIEWACPV formula =&nbsp;&nbsp;Total Advertising Spend to a Specific Landing Page / Number of Unique Page Views.Why: This metric will tell you how much it costs your business to get unique eyeballs on your key landing pages. So you can review and compare different alternatives to generate traffic to that landing page.Tip: I like to measure ACPV by specific page and by specific channel so you have a clear idea of how much is costing you to drive traffic to a specific page and compare it with the cost of driving traffic to other landing pages.RVR – RETURNING VISITORS RATERVR formula =&nbsp;Total Return Visitors / Total VisitsWhy: I love this metric. It says how interesting your website is for people to come back and hopefully buy from you again. Remember return visits can also mean people are still trying to figure out or stuck at solving something. (especially if you do not offer email or call centre support).Tip: Your loyalty program, email marketing (e-newsletter subscribers) and unique offers to previous visitors are a great way to bring return visits back to your website.CTR formula =&nbsp;Total Clicks / Total Impressions.Why: I like this metric to be tracked and presented by my web designers and Google Ads specialists who are responsible for all the Display Banner Ad creatives and Text Ads.Tip: Is your creative team A/B testing different options? If not they should!CPC formula =&nbsp;Dollar amount $ paid per clickWhy: Google Ads’ CPCs are already too high to even make a decent trial. If this is not your case, you might want to compare your CPC values across different channels including Adwords, SEO (I will explain how to calculate CPC on SEO), Social Media Ads and Display Banner Ads (paid on CPC instead of CPM).Tip: You might want to cap max CPC for ads that have low CPL or CPA, this way you can bid higher on the ones that are actually bringing you either lead or tangible sales $$.APV – AVERAGE PAGE VIEWS PER VISITAPV formula =&nbsp;Total Page Views / Total VisitsWhy: This is a great metric only if you want people to stay the longest consuming content on your website or app: online newspaper, online magazine, online radio station, online TV channel, dating app, etc.Tip: Improvements in website usability and “call to actions” that drive users to read related or other popular content are key to driving this metric up. Too much advertising on your website or app might not help with this metric.ATS – AVERAGE TIME ON SITEATS formula =&nbsp;&nbsp;Total Time Spent / (Visits – Single Page Visits)Why: Same as APV this is a great metric only if you want people to stay the longest consuming content on your website or app: online newspaper, online magazine, online radio station, online TV channel, dating app, etc.Tip: Same as APV,&nbsp; improvements on website usability and “call to actions” to drive people to read related or other popular content are key to driving this metric up. Too much advertising on your website or app might not help with this metric.BR – BOUNCE RATEBR formula =&nbsp;&nbsp;One Page Visitors / Total VisitsWhy: Same as APV or ATS you want to reduce bounce rates only if you want people to stay the longest consuming different content pieces on your website or app: online newspaper, online magazine, online radio station, online TV channel, dating app, etc.Tip: If 30% or more of your traffic is coming from Google Ads, you might want to check your landing pages are relevant to the searches you are bidding for. Same as APV, improvements on website usability and “call you actions” to drive people to read related or other popular content are key to driving this metric up. Too much advertising on your website or app might not help with this metric.There are some other metrics your CEO might want you to measure and keep track and they represent customers getting closer to purchase or loyalty:With limited time, resources and human talent, you might not be able to focus on all metrics and/or be able to measure them all as some metrics are more difficult to measure than others.Digital Marketing and Social Media Marketing can surely help with other key aspects of your business that you might need to define key metrics for, including:I will talk about these key objectives in a different article soon and will link it from here.FINAL TIPSNEXT &gt; Get your Digital Marketing Strategy Plan ready with our Top Tips + Google Sheets Collaborative Template 🙂Need digital marketing support or training? Contact us? &nbsp;Join 5k+ subscribers receiving the best marketing tips.I need your help! This free article is only possible with your support. Your contribution is vital to helping ensure all content continues to be free of charge.&nbsp; ?? Donate now! It is quick and easy 🙂Final note: Is your marketing not performing? Boost your sales with our eCom boost program or book a consulting session now!Best Digital Marketing Plan templatemeasurementPage load link

Skip to contentPrevious NextDiscover the best digital marketing metrics your boss only cares about. Boost your leads and sales by measuring the right metrics. Below you will find a list of some of the best and most important digital marketing metrics you should be tracking.A digital marketing metric is measurable values used by marketing teams to demonstrate the effectiveness of digital marketing campaigns to a company’s overall business objectives.The reality is that many companies are not quite there yet, using digital marketing metrics at odds with their overall business goals.Some...

THE BEST 6 DIGITAL MARKETING METRICS YOUR BOSS CARES ABOUT - eDigital Agency

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