Digital Marketing KPIs Your Business Should Be Tracking

When you create a digital marketing strategy, how will you ensure it works? With the proper methods in place, it can be easier to determine if you're taking the proper steps to achieve your company goals.

This is precisely why choosing the correct digital marketing KPIs is essential. KPIs are digital metrics used to measure the success of several factors to ensure your overall strategy is working the way it is intended.

Read below for the digital metrics to ensure you're making the most of all your business marketing strategies and ideas.

Benefits of Tracking KPIs

Several benefits come with tracking KPIs, with the first being an increase in your community. When a community of people supports your business, your potential success increases.

Tracking your KPIs ensures you're reaching the right audience and providing what they need. Another benefit is that you can learn to communicate with your team better.

When speaking with them, you can provide data to back up and support what you're saying. Clear lines of communication can also help develop and create better business marketing ideas to use moving forward.

The last benefit we want to touch on is that monitoring KPIs can help you better control your digital strategy. You can use the data you're given and rework your business objectives accordingly.

Customer Acquisition Costs (CAC)

When you're marketing your business services, it takes a lot of resources, time, and money. The hope through this marketing is to convince people to follow your company and buy from you.

When you put these expenses together, it creates data called customer acquisition costs, which means everything you spent to obtain the customer. When you track this KPI, you will better understand how your customers' actions affect your overall profit.

Customer Lifetime Value

This is a metric that shows the value a customer provides to your company throughout the entire time they have a relationship with your business. Understanding this data can make it easier to determine what to spend your business marketing budget on.

It can also help to create and rework marketing strategies you've been using to achieve your objectives. Returning customers have actually been proven to be more important to businesses than new customers because of the value they've provided to your company.

Bounce Rate

When people visit your business website and leave without doing anything else, it's known as the bounce rate. The point of marketing and creating content is to ensure that when people visit your website, they stay on it long enough to complete various tasks.

When your bounce rate is higher, it's a telling sign. It tells you that your website design or navigation might need to be revised.

Retention Rate

This will let you know which customers have continued using the products they bought from you for a prolonged period. It will also show if they've purchased your products and services repeatedly.

Monitoring this provides critical insight into customer engagement and whether you're doing what it takes to keep customers involved with your brand.

Digital Marketing KPIs: Monitoring Marketing Success

When it comes to digital marketing KPIs, hundreds out there provide various forms of data. KPIs like bounce rate or conversion rate can help you ensure you're using the right business marketing strategy to achieve your goals.

Do you need help creating a digital marketing strategy that works? Contact Exigent Creative Solutions for more assistance today.