10 Trending Digital Marketing KPIs to Follow

For an effective digital marketing strategy to be implemented it is important to incorporate and define some digital marketing KPIs. These KPI in Digital marketing will help you get an overview of the goals that you have achieved and ones that you haven’t achieved yet. 

Integrating KPIs for marketing is a smart way of keeping track of your progress and helps you further plan and strategize accordingly. Let’s have a look at some of the most trending KPI in digital marketing.

Decoding Digital Marketing Metrics

In digital marketing it is important to have certain metrics to track the progress of the campaigns being implemented. To some it might appear that keeping a track of any digital campaign is a difficult task, however with right KPIs for marketing it is an easy task. 

KPI in digital marketing refers to key performance indicators which are quantifiable goals set by the company to identify the growth and progress of their marketing campaigns and efforts. It is however, important to have short term KPIs being integrated along with certain long term goals as well. 

This combination of short and long term goals will further help you to track the progress and make any modifications if required along the way. In addition to this, having defined KPIs for marketing further allows you to plan and strategize your marketing outcomes as well. 

KPIs for Marketing

The most important factor here to consider is which KPIs for marketing should you pick for your campaigns and analytics. Here are some of the most important and common digital marketing KPIs for you to integrate into your strategy.

Lead Generated

For a digital marketing campaign to be successful, the number of leads generated via the campaign is one of the most important digital marketing metrics to be integrated. This helps you understand the reach and relevance of your campaign as per the target audience. 

The number of leads generated is further categorized into Marketing Qualified Leads (MQL), Sales Qualified Leads (SQL), and Sales Accepted Leads (SAL) based on their origin. These metrics will also help you to understand the aspects on which you need to focus more upon.

Cost Per Conversion

There is a set amount of budget that every digital marketing campaign is being allotted in every organization. Hence, it is important to know about the spending as well as the profit being generated. For this, CPC (cost per conversion) is another important metric to be included. 

These digital marketing metrics allow us to understand and measure the quality of the mid-funnel media strategies being implemented. Higher conversion rate is always beneficial for the company. 

It can be easily calculated by identifying the total number of leads generated in a specific amount of time and then identifying the total number of conversions from the leads in the same time period. 

Website Traffic Generated

Traffic that is being generated on the website is another measurable KPIs for marketing to be integrated in the strategy. To identify this data you can integrate Google Analytics and easily collect the required data for better understanding. 

In addition to this you can also identify the number of visitors per webpage, product category, price filter, blogs, and other landing pages. This data will help you understand which page is being most visited by the audience and allows you to modify the under-performing web pages for more traffic.  

Cost-per-Lead Generated

CPL or cost per lead generated helps to identify the cost it took to acquire a new lead or a new contract. This further offers you insights about the amount invested and the results obtained being rational. 

Retention Rate

This shows the repeat purchases or business from the same users over a period of time. It helps you identify the loyal and regular customers as well to further offer them certain additional services. This also helps you understand the engagement rate of the customers. 

Retention rate can be easily calculated using: RE= (((CE-CN)/CS))*100, where CE is the number of customers at the end of the time period, CS is the number of customers at the start of the time period and CN is the number of new customers acquired during a time period. 

Attrition Rate

Also referred to as Churn rate, it indicates the percentage of customers who have discontinued their purchases from your brand. Higher churn rate is always a sign of poor products, services and customer experience. 

Lower churn rate is always a sign of happy customers and good customer services, hence it is essential to give you a reality check of your customer services. 

Click Through Rate (CTR)

These digital marketing metrics allow you to understand the effectiveness of the CTA (call to action) of your website and how engaging it is for the audience. Ideally a CTA should be engaging and attractive enough for the customers to click on it and proceed further. 

Pages Per Visit

It allows you to get insights about the logical arrangement of the web pages on your website. It is essential for an enhanced user experience to have your web pages set in a logical and chronological order. This will further help the user to have a clear understanding of your services and have a clear communication as well. 

New vs Old Visitors

This will offer you insights and a comparison of how compelling, engaging and relevant your website content is for the audience. If the number of new visitors is less it indicates that the content is not compelling enough for the audience, Hence, you are required to update the content. 

Average Time on Page

An average amount of time that a user is spending on a particular page will help you further understand the user engagement. This also plays a major role in identifying the conversion rate as higher time spent but less conversion rate indicates issues with either pricing or brand communication.

Key Aspects of Digital Marketing KPIs

It is usually said to set the KPIs for marketing keeping certain key factors under consideration. Furthermore, you are required to plan your metrics smartly, to help you get proper insights. Here are five major points that are to be included while designing KPI in digital marketing. 

S- Specific 

M- Measurable

A- Achievable 

R- Relevant 

T- Time-bound

Incorporating a SMART approach will help have a clear understanding of your goals, and metrics being incorporated into your digital marketing strategy. 

MadHawks Digital Marketing KPIs

Last but not least, it is important to integrate a digital marketing agency such as MadHawks to help you through this digital journey. It is essential to keep a check on all the metrics that you wish to integrate and understand which are beneficial for your business.

The expert team here at MadHawks is highly capable of offering you guidance through the process and offering you insights on the required metrics. Furthermore, the strategies that are integrated here at MadHawks are designed keeping your business requirements under consideration. 

For more information get in touch with our expert team today!

Also Read - Understanding The 4 Ps Of Marketing: An Overview With Examples

FAQs 

1. How do you track digital marketing performance?

Digital marketing performance can be tracked using different metrics such as lead generated, website traffic, retention rate, click through rate and other metrics. 

2. What are the three types of KPIs for digital media?

Three major types of KPIs for digital marketing are- conversion, awareness, and analysis. These are based on the requirements of the brand and their goals. 

3. Which are the best KPIs to use?

The best KPIs to use further depend on the needs and requirements of your business and what factors you wish to track such as lead generation, website traffic or others.