Online marketing is frequently dubbed the winner over traditional forms of marketing because of its cost effectiveness, measurability and accountability.
However, even though there is a multitude of metrics available for measuring online success, often there is still an uncertainty behind what to measure and how to measure it.
In order to measure the success of your search engine optimisation or paid search campaign (PPC), it is necessary to set up the measurement tools that facilitate it.
No PPC campaign should be launched without ensuring that the conversion tracking code has been implemented and tested, to satisfy that it is functioning properly.
Your website should have analytics code on every single page of the site so that you are able to track your searchers right from the keyword used to land on your site,right through to the exit page. Testing this analytics tracking is absolutely necessary as the metrics it measures are priceless and cannot be recaptured if lost.
Finally, if you are running both a PPC and SEO campaign, be absolutely certain that in your PPC account you have changed the settings so that your PPC keywords are being tracked separately in your Google analytics.
The above tools are the simplest available, but also some of the most valuable. They are free, easy to implement and no one with a website or blog should be without them.
Knowing What to Measure
There was an evolution as people went from measuring ‘hits’ on a website to conversions but are enough people focusing on ROI?
Conversions vs Cost-per-Acquisition (CPA)
Whether you look at it as cost-per-customer or cost-per-sale, unless you know how much the sale is costing you, you cannot measure the effectiveness of the conversions. For every single form of marketing you need to break-even at a minimum or more favourably, make a profit on your marketing efforts. If you do not know how much your clients are costing you, you may be allocating your budget into the wrong buckets.
Funnelling traffic through your site & measuring goals
Whether your website is in fact converting or struggling to do so, the key to improving conversation rates is knowing where the problem lies. This is where goal measurement and funnel setting in Google Analytics comes in.
The act of setting goals will help you ascertain how many of total site visitors are actually doing what you want them to do. It will also tell you the value of the met goals as defined by a preset value. By setting up a funnel and clearly defining the steps of the funnel you are both able to see the path of those visitors that meet the goal as well as those that fall off the path and do not perform the desired action.
When measuring metrics, the most important ones, are those that will show you how your online marketing activity is affecting your bottom line. If the results are not favourable, those metrics that help you to identify and rectify the problem will be the key ingredient to turning around those negative results!