Making Metrics Work For Your Business
Understanding how your online marketing campaigns are performing is very important. How else can you improve your strategy if you don’t regularly analyse the metrics from each campaign? Metrics show you what’s working on your website, blog or marketing program; what’s not going so well and what processes might need a bit of adjustment or scrapping altogether.
The correct application of what metrics are showing you can save you time, effort and money in the long run so it’s important to understand exactly what they all mean and which are most appropriate to your business.
Here are some Metrics terms you really need to know.
Google AdWords Metrics
Click thru rate (CTR). This shows the percentage of people who clicked on your ad. A CTR of 5 percent shows that five out of every 100 people who saw your ad clicked on it. An average CTR for most sites is between 1 and 3 per cent.
Average position. This refers to the placement of your ad in the search results. In general, positions three to five give the best results.
Impression share. This metric tells you how many times your ad displayed per number of searches made on a particular phrase. A strong impression share is about 80 percent.
Bounce rate. This important metric shows the percentage of people who clicked on your ad; went to your landing page but left without visiting a second page. Clearly, the lower your bounce rate, the better, but a good rate is around 40 percent.
Conversion rate. This is the rate at which visitors converted into purchasers. Around 1.25 percent is the low end for e-commerce sites.
Opens. This is fairly self-explanatory and refers to the number of recipients who opened your email.
Clicks. The number of recipients who clicked on your offers.
Bounces. This means the number of emails which were not delivered or sent to the wrong email address. If you get a lot of these, check the validity of your email contacts list.
Non responders. This tells you who did not open your email.
Forwards. This is an important stat as it indicates how many recipients passed your message on to someone else.
Website and Blog Metrics
Google Analytics supplies much of this information for free.
Total visits. As it suggests, this is the number visitors to your site. "Unique visits" indicates the number of first-time visitors and "return visits" is obviously the visitors who return to your site.
Leads. This means the number of visitors who actually bought something or clicked on an offer.
Popular pages. This tells you which of your pages get the most visits.
Search engine key phrases. This metric tells you which were the most popular phrases used by visitors to reach your landing page or site.
Geographic locations. This shows you where your visitors were from; both locally and internationally.
Referring websites. This refers to other websites that referred people to your site.
Page rank. One of the determining criteria of a web page's strength in search.
Number of inbound links. This refers to links from other sites which point to your site or particular pages within it.
All this information is extremely useful in the development of successful marketing strategies. When you have decided which methods and metrics most suit your requirements, download a monthly report and get into the routine of analysing the stats. You can then apply this information to enhance, improve and more effectively target your campaigns.