What is the key to digital marketing success? Measuring outcomes that connect customer behavior to the bottom line of the company.
Having clear goals by defining Key Performance Indicators (KPIs) is critical: they allow you to measure the success of your digital marketing campaigns, and keep you focused on the objectives of your effort.
Goals can vary by the purpose of your campaign (think branding/awareness vs. lead generation campaigns); no one KPI fits all.
For example, there are two layers to defining campaign KPIs for a YouTube pre-roll video ad campaign.
In addition to the metrics that speak to performance on the platform itself (view rate, % video played, cost-per-view, clicks, click-through-rate), several KPIs in Google Analytics can be evaluated to measure the effectiveness of your campaign: pageviews per visit, content consumed, repeat visits (think customer loyalty), time on site, among others.
Prioritize macro KPIs (those that align with your actual business goals for the campaign) but monitor the micro-goals as secondary considerations for audience relevance.
It is also critical to create targets for your KPIs – especially your macro KPI. How else will you know if your results are good, bad or indifferent? Set parameters for success upfront by setting goals based on past campaign performance or industry-specific benchmarks.
The root cause of failure in most digital marketing campaigns is lack of focused thinking about campaign goals and the absence of objective metrics (KPIs) with which to measure success.
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