Digital Marketing Metrics: Managing the digital marketing strategy is essential to ensure it succeeds. In addition to setting goals, one cannot forget to measure results.
The amount of data available on the behavior of the public on the Internet is enormous. Therefore, it is necessary to understand what needs to be measured. Understanding key metrics will help you reach your audience and put yourself ahead of competitors.
Engagement
There are different data for each marketing channel. To ensure that your audience interacts with your brand online, you must understand consumer behavior in each situation.
So, if you’re doing an email marketing strategy, keep track of your emails’ open and click-through rates. They will indicate if the content is relevant to the contact base.
Pay attention to the number of shares, comments, and reactions on social media. If you are marketing videos, the number and time of views will indicate whether they are effective or not.
Return On Investment (ROI)
Knowing what the return on marketing investment is is very important. And ROI is an indicator that shows whether the company is making or losing money.
Customer Acquisition Cost
Customer Acquisition Cost, abbreviated as CAC, is a metric that indicates how many resources are spent for a person to become a customer. This cost is obtained through the sum of all marketing expenses, divided by the number of customers acquired.
With this metric, it is possible to know how efficient the digital marketing strategy is in winning customers and which channels are better.
Marketing ROI
As mentioned in the previous topic, ROI is a fundamental metric to show the entrepreneur if their marketing investment is paying off.
It is possible to analyze what is lost or gained in each investment made through ROI. This includes marketing campaigns, new customer retention strategies, acquisition of management tools, sales training, etc.
The calculation considers the revenue generated by the venture divided by the amount invested in digital marketing. There is no other metric capable of indicating the impact of marketing on the company, like ROI.
Companies that make this calculation have more complex, refined marketing strategies that generate more results. These are organizations that know exactly when and where to invest their money.
It is worth remembering that through it, we understand the value of a customer’s life cycle. Such a metric is the life he remains as a consumer, divided by the investment in digital marketing.
Thus, ROI and CAC metrics are combined to determine how much resources are spent to acquire a customer and how much a customer is worth to the company in the long run.
Digital Marketing Agencies: When Does Your Business Need One?
Are the results not meeting expectations? Are competitors always ahead? If so, your company will likely need a digital marketing agency to help achieve good results.
Bringing a digital marketing agency to your company is the right way to generate better deliveries and optimize your business processes. By doing this, you can count on the work of high-level professionals who will dedicate themselves to your brand’s image in the online territory.
The role of a good agency is essential, especially if it has good market knowledge. After all, in addition to knowing which ports should be opened, it can offer other ports that the company never imagined. Thus, thousands of new visitors will show up through those doors that were kept closed.
Remember not to fall into the trap of looking for a cheaper service to save money. Investing a little more is always more profitable and ensures that the service hired is high quality and recognized in the market.
As you can see, digital marketing involves several actions and advanced planning, in addition to being complete. There is still much room for digital marketing to grow, and companies are increasingly turning to the Internet. So, if your company still doesn’t invest in this efficient strategy, it’s time to start considering, as the results can be impressive for your business.
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