When it comes to Digital Marketing, there is no dearth of Key Performance Indicators (KPIs). Each channel, each campaign and each medium requires a different KPI. The best way to handle this situation is to be creative about it. Understand your business requirements and come up with your own KPIs customised to your needs. A. Kaushik’s Measurement Model is a great place to start – this framework help you structure your efforts
In order to give you some ideas, find below a list of KPIs that are usually used.
Web – Analytics
Web-Analytics KPIs are used to understand how users use your website. Depending on your nature of business and the type of website that you own, you can pick and choose KPIs.
1.Unique Visits (UVs): Number of individuals who use your site. This is a basic measure that helps you understand the traffic to your website. Using free tools like Similar web, you can get a rough estimate of your website’s rank in the industry.
2. Average Session Duration: Time spent the user spends on your site. Identify different user goals and benchmark the time required to achieve those goals on your website. Take actions by comparing your benchmarks and actuals.
3. Bounce Rate: % of users who landed on your site and left without any interaction. If the users are not interacting with your website upon landing that is a bad sign. A bounce rate of 20% or lesser should be the target bounce rate.
4. Subscriptions: The number of visitors who have signed-up for information or services. Apart from the number of subscription also track the retention rate of subscribers, to necessary actions to better your email marketing strategies.
5. Devices Used: The distribution of number of users by device gives an idea of how users are consuming the content on the website. If there are more pages viewed on mobile, while conversions were happening on the desktop, then the information rich content pages need to made as mobile friendly as possible.
6. Ecommerce Conversion Rate: The number of customers who complete purchase on your site
7. Cart Abandonment Rate: Identify on which pages you are losing customers
8. Page Depth: Number of pages the user visits in a session – the average helps you to understand the gap between the current page depth and the required page depth to convert
9. Unique Page Views: The number of users who view a particular page – Identify popular pages on your website using this
10. New Vs Returning Visitors: Gives you the split between New and Returning Visitors. The other metrics such as Time Spent, Bounce Rate, Conversion Rate, etc. can also be observed for New and Returning Visitors separately. Depending on which, communication can be altered on the website.
11. % Site Search: Users who use the Search bar on your website to find information. Anything more than 5% would mean that people are not finding the information that they need easily. Site Search Terms reflect the customer’s expectation from the website, they can also be used to generate content ideas. Categorisation of Search Terms into different types such as: Brand-centric, Problem-centric and Solution-centric, helps to produce suitable content that addresses the queries.
12. User Flow: This is a map of the path taken by the customer on your website. By understanding how customers seek information on the website, the content can be rearranged.
Any form of paid advertising that done using based on the Search Terms that users enter into Search Engines such as Google, Bing, etc. is termed as Search Advertising. This can include Text Based Search Ads, Display Ads, Shopping ads, etc.
13. Impressions: Number of times the ads are shown to the user. For a brand awareness campaign, impressions work well.
14. Clicks: Number of people who click on your ad.
15. Click Through Rate (CTR): Impressions/Clicks : The effectiveness of the co-relation between your ad content and the keywords that you have chosen can be assessed using this metric. Average CTRs vary across industries, but anything around 2% indicate a healthy campaign.
16. CPM (Cost Per Impression): Some ads are charged for the number of impressions that they are able to achieve. CPM based ads are mostly used to build brand awareness. (Associating certain search terms to certain products/services that are new to the market)
17. CPC (Cost per Click): Most widely used form of payment method. You are billed for the number of clicks on your ad. Pay Per Click (PPC) Campaigns are employed for customers who show intent to purchase.
18. CPA (Cost per Acquisition): In this payment method, you pay only if there is a acquisition. Acquisition can Leads, Sales, Subscription, etc. If your business is very sales driven and the revenue from each conversion is sizeable, then it might be beneficial to use CPA method.
SEO (Search Engine Optimisation)
The KPIs pertinent to SEO are monitored to make sure that the rankings of your website is maintained when a user types in a particular query related to your offerings. To maintain the site’s SEO, basic understanding of the algorithms of the Search Engines is necessary.
19. Ranking: The position on SERPs (Search Engine Results Page). Depending on the co-relation between the search term entered by the user and the content available on your website, the ranking is calculated.
20. Inbound Links: When your website offers original and interesting content, it is often referenced in other website. These links are inbound links. The quality and quantity inbound links indicate the usefulness of your website to Google.
21. Number of Indexed Pages: You need to make sure that the important pages of your website are indexed by Google. Indexing improves the visibility of your website.
22. % of Organic Traffic: If the content on the website is attuned to your customer’s queries, the percentage of organic traffic increases over time. Apart from direct traffic, organic traffic is the next best method to drive traffic to website. Couple this with the time that visitors spend on the website and bounce rate to understand if their visits are worthwhile.
23. No of Downloads: For example, the number of downloads of Specification Sheets or How to guides. This could be a micro-conversion that leads up to a macro-conversion.
When building campaigns, it is good practice to choose the KPIs on which the end results will be measured in order to put tracking mechanisms in place such as URL tags, etc.
24. Email Open Rates: The number of individuals who open the emails
25. Multichannel Funnels: The various channels that the customer goes through before conversion happens is tracked using multi-channel funnels. The effective channels can be singled out and used appropriately using these.
26. Return On Investment (ROI): The overall cost of campaigns that is spent across channels can be summed up and weighed against the revenue to measure the fruitfulness of campaigns.
27. Landing Page Bounce Rate: In case that users are not interacting the website after landing on the offer page, then there might be some mis-match between the offer text and the actual offer on the web page. Landing Page Bounce Rate acts as a good measure to identify such issues.
Social Media Marketing has its own set of KPIs. Even though the different networks are used for different purposes, the common metrics used to measure results are as follows:
28. Number of Followers: Users who are following you on Social Media networks.
29. Post Reach: Number of people who saw your post
30. Engagement Rate: Number of interactions on the post / Post Reach: An interaction can be one of the following: likes, shares, comments, retweet, pins, etc.
31. People Talking About It (PTAT): It is a measure of the number of mentions your page has gained in the last 7 days.
32. Content Mix & Interaction: Measure the % of posts that are images, text or videos and check the interaction on different type of content to understand follower preferences
33. Response time: For many brands their social media channels act as their customer service platforms. Therefore measuring the time taken to respond to a customer’s query is vital for overall satisfaction
34. Resolution time: The time taken to find a solution for a customers issue that was posted online.
35. Tags on a post: Now a days instead of sharing a piece of content with a friend, internauts tag people onto posts using the comments section. Therefore, if the post has the potential to go viral the first sign is probably the tags in the comments section
One of the most important aspects of digital marketing is the maintenance of e-reputation management of the brand online. Many marketing automation tools are available in the market today to carry out sentiment analysis.
36. Share of Voice: Simply put, it is the level of exposure of your advertising to the customer as opposed to the advertising of your competitors. Share of Voice matters a lot online as a single isolated piece of communication tends to get lost in the sea of digital marketing and re-marketing that is done today. Therefore, it is essential to create a space for yourself amidst the clutter.
37. Mentions: Many social listening tools help to pick up the mentions of your brand from all over the internet. These tools further synthesis the data into meaningful actions that can be taken. The success of campaigns can be sensed using the measure of positive, negative and neutral comments that ripples in the market. Apart from that, it can also be used for crisis management.
Based on the interaction of your customer on various digital touch points, one can learn many things about the path that customers take before they convert.
38. Time taken for conversion: Using Google Analytics, the recency and frequency of visits can be known. Combine this with number of days between interactions to identify patterns in conversion. In case that customers take longer duration to decide, re-marketing can be done at the right moments to helps conversions.
39. Micro-conversions: These are the some significant actions that the user might perform before converting. The number of micro conversions and the time taken for them could help understand the customer journey better. Micro-conversions can be tracked by setting up Goals on Google Analytics.
40. Customer Lifetime Value: Depending on the lifetime value of the customer, products can be up sold or cross sold to customers
41. Number of Marketing Qualified Leads: The Visitors on the website turn into Leads when they perform any of the micro conversion goals that were laid out for them. These leads are further filtered by Marketing to be passed on to the Sales team.
42. Number of Sales Qualified Leads: Once the Sales team gets the data from the Marketing team, they do their own filtering and Sales Qualified Leads are arrived at. The Sales team then starts working on converting these customers.
Whether you are managing your own blog, or you are managing the blog section of your website, these KPIs are essential to make your actions effective:
43. Most Read Categories: Understanding the topics that interests customers can be useful as the data can be used to customise services and offers.
44. Event Goals Completed: In a content intensive section such as the blog, there might be different things that you would want a user to do. Like watching a video, using comparison tools, using calculators, etc. Tracking these activities using Google Analytics (by setting up event goals) will provide some insight on what kind of content the user enjoys or rather, what kind of content is right for which context. For example, for explaining how to use the product, does a video work better or a downloadable pdf? You can know this kind of information using event tracking.
45. Traffic / Conversion / CTR by Post: The most popular posts are lighthouses that lead the way. The traffic, conversion and CTR for these posts can be analysed to figure out what works so that it can be repeated in the future. You also know what kind of posts to put out there for brand awareness and what to put out there for conversions.
46. Traffic/Conversion/CTR by Author: Reward your best content creators by this analysis.
There are many KPIs that are similar to a website such as time spent, number of sessions, pages viewed, etc. Find below some of the unique metrics that are specific to mobile applications:
47. Commonly used features: Your app might offer many cool features, and to understand if the user is making full use of it, this metric can be tracked. Depending on usage patterns, the content can be re-arranged for the user to find it easily, so that they can gain more from the app.
48. Retention Rate: The time that user has the app on his/her phone. If the retention rates are lower then it might be wise to rethink the utility of the app for the customer.
49. In-App Purchases: Revenue growth from in-app purchases can be a good indicator of the customer’s preference as a marketing channel
50. App Ranking: App SEO is the position of its listing inside Google Play or Apple App Store. Ratings from customers and information page are the main factors taken into consideration for the rankings. App SEO is required for the customer to find your app easily in the app stores.