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Digital Marketing Analytics – Why It Is Important To Understand Your Metrics

Digital Marketing Analytics – Why It Is Important To Understand Your Metrics
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Are you tired of not being able to track your digital marketing results? And do you wish there was an easy way to quickly figure out what’s working, and what’s not, so you didn’t waste your time and money on ineffective marketing tactics?

If so, then you’re in the right place, as on this episode we’re going be diving in head first to take on the mistakenly overly complicated world of digital marketing analytics, so you can quickly learn what you need to watch and measure, and what you can leave behind.

The truth behind digital marketing analytics is that they can be as simple or as complicated as you want them to be.

So here are 5 easy to use and easy understand digital marketing metrics that you can start tracking today.

1: Website Visitors

The easiest place to start is by taking a look at your website traffic and it’s number of visitors.

While this is somewhat of a vanity metric, meaning that it may not directly relate to the bottom line, it is helpful in measuring and tracking how many people are visiting your businesses virtual store front.

2: Bounce Rate

Your bounce rate is the number of people who visit your site and then quickly leave, or bounce off.

Here is where we want to see a low number, as this means that people are sticking around and having more of a look through your content.

3: Number Of Email Subscribers

Just like with website visitors, you want to see a steady increase of email subscribers over time.

It doesn’t matter what business you’re in, the odds are good that you could benefit by using an email marketing strategy.

4: Click Through Rate (CTR)

Your click through rate refers to how many people took action and clicked on one of your posts or advertisements.

CTR is a valuable metric to watch anytime you’re creating an ad for any of the social or search engine platforms, as a high click through rate means that what your ad is saying is relevant and interesting enough for someone to want to click and learn more.

5: Lifetime Customer Value

Lifetime customer value can be one of the most challenging, but also one of the most valuable metrics to watch and track.

While there are a number of pretty fancy and expensive software tools and services out there that can help, even having a rough, general idea of the lifetime value of a customer to your business is still beneficial to your digital marketing campaigns.

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21 thoughts on “Digital Marketing Analytics – Why It Is Important To Understand Your Metrics”

  1. If you are searching for the best service to get website visitors to your site, i recommend to try seowebsitetraffic. I am using it with an incredible result. Just type seowebsitetraffic in search engines.

  2. Very informative. I appreciate you producing this video. When it comes to metrics, what tool do you prefer? I have been using Google Analytics with Search Console, but with the new Search Console, I am looking for other options. I know that you can select which version of Search Console you want, but I think it is a matter of time before Google does away with the old version of Search Console. Thanks!

  3. Certainly agree Adam with your 5 main points …Especially – Lifetime Customer Value…After all, to better serve your customers and grow your business, its critical to understand their problems and have a solution to offer them…

  4. The better you know your costumer the better you can serve them. With digital marketing you can track:

    1. How many times our message is shown.

    2. Who saw it

    —a. If they did anything
    ——I. What they did

    ——II. How many times they did it

    —b. Where they are from
    —c. What kind of device they are using

    —d. What browser they are searching on
    —e. With some platforms you can track: age, interests, and previous buying behavior.

    —f. They can be monitored for days, weeks, years to better understand them

    5 Digital marketing metrics:
    1. Website traffic/visitors, you want to be seeing a steady increase of customers overtime

    —a. You can dive deeper to see which resources are sending you the most traffic and which pages are sending you the most action – so that you know where to double down maximizing what is already working for you

    2. Bounce rate (% of people who quickly see your website and bounce off) … we want to see a low number –

    —a. People who are on a website longer are more likely to become customers

    —b. Also helps with search optimization rankings
    to improve view a website from your customer’s eyes and see if you are able to quickly determine what your website does and how easy it is for your website to navigate

    3. Increasing number of email subscribers?

    —a. Email marketing strategy

    —b. Encourage visitors to leave contact information with you by offering something of value in exchange. Whether it is a free ebook pdf, video, or consulting session.

    4. Click through rate, refers to how many people took action and clicked on one of your posts or advertisements

    —a. Valuable for any add on a social or search engine platform. A high click through rate says your add is relevant and interesting enough for a person to click on it and want to learn more.

    ——I. High CTR are rewarded with better search placements and lower cost… better results for less money

    5. lifetime customer value – one of the most challenging and ost value metrics to watch and track. There are a number of fancy and inexpensive tools that can help.

    —a. If you know what a customer is worth to your business you then know what to spend to acquire a new one. (if an average customer is worth $1K to your business you know you can spend up to that amount to acquire a new customer and still be profitable)

    ——I. Once you figure this number out and a way for you to market your business that allows you to acquire new customers below that cost you are basically able to create an unlimited amount of new customers directly to your business on autopilot.

    As for metrics Adam’s solution is a bit of a hybrid mashup: G. Analytics or FB Ads Manager to a more complicated Google Sheet that we manually update each day

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