For anybody new to digital marketing, the idea of analysing KPIs or ‘Key Performance Indicators’ can be overwhelming. With over 30 KPIs commonly analysed in digital marketing, it can be difficult to know which are the best to invest time and energy into. Regardless, the best place to start is to establish your business targets and goals, and work backwards from there!
Once you have decided what your digital marketing goals and targets are, you need to decide which KPIs will allow you to best analyse this. When choosing your goals, make sure that they are actually measurable, and don’t waste time trying to analyse data that you can’t change. The best way to do this is to make sure that your KPIs follow the S.M.A.R.T method-specific, measurable, achievable, relevant, and time-bound. However, expect a little trial and error to see which KPIs work for you and which do not provide you with the data you require.
One of the most important KPIs to focus on when it comes to digital marketing is ‘engagement’. Assessing engagement allows you to see just how people engage with your content. Do they like it? Do they share it? Does it make them think of someone who they then tag? The goal for successful social media is to have as many people as possible engaging with your content, creating a follow on effect.
Another important KPI to keep an eye on is the traffic that comes into your digital space. Where have they come from, have they visited previously, what are they looking at and how long are they spending on your website? By knowing the online behaviors of your potential customers, you are able to create an experience they respond to.
Often, digital marketing KPIs can be split into 5 key areas- lead generation, website and traffic metrics, SEO optimisation, paid advertising and social media tracking. Make sure your key focus KPIs fit into these key areas and if not, make sure you don’t spend too much time on data and information which doesn’t help you grow.
There are many other areas that are important and many that may not be – everybody will have different needs and focuses. One of the most important things is to be adaptable and evolve based on the KPIs you are analysing- nothing in the digital realm is set in stone and it is important that you keep evolving to keep up with the technology.