For most of the inexperienced entrepreneurs out there trying to run a startup, it can be quite confusing to try to make sense of the digital marketing landscape. With so many different ways to gather an audience and ensure that the company gets as much brand exposure as possible, it is no wonder why many new businesses go for quality specialists, such as digital marketing agency Chicago for everything they need.
That said, even if there might be a specialist making things easier to handle, it does not mean that the company is free to do whatever they like. Digital marketing is something that only starts to gain its stride when the company owner learns to take advantage of the different opportunities present in Internet marketing. Ask any quality marketing agency what kind of results the business can expect when the agency is hired, and they will almost always answer that it depends on the goals of the company. After all, there is no way a digital marketing company can effectively move forward without first ascertaining the various goals of their client.
A lack of understanding when it comes to digital marketing metrics can be more trouble than it is worth — even with the help of professionals. The best thing to do would be to experience a little crash course in the world of metrics, and how best to observe and take advantage of the situation. Here are just a few digital marketing metrics that matter for just about any company in 2021.
The bounce rate
If there is one metric any business owner would be wise to consider, it would be the bounce rate. At its best, the bounce rate is technically telling businesses what the online users want to do next. With the right data gathering tools doing their magic, it is entirely possible to gauge and develop a new roadmap based on the way people act after leaving the company website.
That said, the bounce rate still means the rate at which people leave the primary website when they experience the main page. It means the online user did not even bother to look anywhere else. Having a high bounce rate is troubling, as it means a majority of people are not getting what they want from a website — and the users realize it the moment they enter the site.
It could mean quite a few things. It could mean that the digital marketing strategy is attracting too many people that are not the target audience. It could also mean that the website takes too long to load, as most people give a site about ten seconds to catch their attention. No matter the case, a high bounce rate means that there is something wrong with the digital marketing strategy, and it is well worth investigating.
The conversion rate (social media or otherwise)
The conversion rate is a metric that is all about the way online users interact with the company’s posts. For example, when it comes to social media, the conversion rate involves people that not only take the time to interact with the post, but also make a purchase on the website, subscribe to relevant company programs, and much more. The conversion rate tells the company owner exactly what they need to know when it comes to how many people are converted from curious onlookers to genuine customers and clients.
Fortunately, there are plenty of online tools out there fully capable of tracking a company’s conversion rate, which is why the use of digital marketing agency Chicago comes highly recommended. For those who want to give it a try, it is necessary for the online users to have cookies enabled. The rate is calculated by dividing the number of conversions by the number of clicks and then multiplying the number by a hundred. No matter the case, conversion rates are a crucial part of the digital marketing sphere.
The cost-per-click (CPC)
The CPC is a metric showcasing the amount the company pays for each click they might receive on their paid advertisements. It is not to be confused with the pay-per-click (PPC) advertising model, where the advertiser pays a small fee each time their advert is clicked. While the two are quite similar, the idea of CPC is to show the company owner precisely how much they might be paying to gain clicks for their advert. Similar to the bounce rate, it could show an inefficiency with the company’s processes.
Any ad manager worth their salt will have a CPC metric, as it is a critical part of any digital marketing strategy. In the case of PPC, the reason why it might be recommended is the fact that the company gains extra data such as keywords and other types of valuable information.
The customer satisfaction metric (CSat)
To help figure out what the target audience feels about a company, the best thing to do would be to provide surveys whenever possible to see if online users are happy with the company. While some people might be more than happy to give certain companies a piece of their mind, many will not bother. It is the reason why the use of surveys is so crucial.
To get an easy look at what most people feel, you can multiply the total scores by the number of participants. Afterward, simply multiply it by a hundred to get a feel of just how many people are happy with the products in question. Considering how easy that can be to utilize, it is recommended that every company give online surveys a try. While not every user will want to fill up a survey, enough will do so to paint a clear picture of what needs to be done. The metrics above can make digital marketing seem intimidating, but it is crucial to learn all about how best to utilize metrics when dealing with a digital marketing strategy. It might seem cumbersome at first, but with the help of specialists such as the digital marketing agency Chicago, it is entirely possible to fit the pieces together and figure out which digital marketing strategy to use next.