Developing a solid digital marketing strategy should be a first priority for businesses in today’s day and age. A solid digital marketing game plan is what gets your name out into the world, ultimately it’s what makes you money. So go ahead, get started on creating your strategy so that you can start racking in the cash.
Before you can start strategizing though, you need to understand the current state of your company. There is no hope in planning properly if you don’t have a solid understanding of what’s going on. This is why digital marketing analytics is the first step and completely necessary if you want to practice digital marketing to the fullest.
There are 5 important aspects of digital marketing analytics, none of which should be ignored. The 5 components of your company that need to be analyzed include:
- Site Load Speed
- Click-Through Rate
Before anything else, you should have a thorough knowledge of your site’s overall traffic, in other words you should know how many visits it gets on a daily basis. Not only should you know the amount of traffic, but also the type of traffic coming to your site. How are internet users finding your website, is it through organic web searching, direct searches, or referral linking directed from another website?
Since most web traffic originates from organic searches, this should be one of your main focuses. If you analytics show that not much traffic is coming from organic web searches, you’ll most likely have to develop a search engine optimization strategy and even hire an SEO professional to help.
Engagement refers to several things, but it pretty much refers to how engaged your target audience remains. You can measure engagement through social media likes, website browsing, and comments including your company name that are circulating around the internet.
Getting a conversion should be your main goal since it means that you have converted someone from a “potential customer” to a real one. Tracking conversion rates just means that you are determining the percentage of people that actually follow through with a sale. A leading source says that “by tracking conversions, you can start to recognize the actions visitors typically take before becoming customers.”
Site Load Speed
Waiting for a site to load is one of the most common reasons for losing potential customers. Nobody wants to wait, wait, and wait a little longer; in fact, nearly 40% of internet users will move on before the site even loads if it taking longer. Patience is a virtue, but many people don’t have patience. Analyzing your overall site speed and page loading capabilities can help you to improve it.
The click-through rate – or CTR – refers to how quickly internet users are clicking through your ads, therefore measuring how relevant your product or service is to them. If the data analytics show that the CTR is low, this can mean a few things. Perhaps your ad aren’t targeting a specific enough audience, or it could mean your offer isn’t enticing enough.