Over the years, there has been a seismic shift from traditional to digital marketing in order to adapt to changing consumer behaviour that’s been driven largely by technological advancements.
Everyone creates digital campaigns, but how can you craft them to suit your audience specifically? With the COVID-19 pandemic ongoing, consumers are staying home and going online — that’s all the more reason to capitalise on your digital campaigns and ensure they are effective at raising brand awareness.
Data is king with online marketing, revealing what is going well and what is not.
However, the data collected should not be limited to easily captured figures such as number of monthly pageviews or number of views on social media posts.
Focus on marketing metrics instead — values across all marketing channels that measure the success of your digital marketing efforts. These values can be easily generated through web analytics tools and marketing software, such as Google Analytics and Hubspot.
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Below is a list of marketing metrics every SME Owner should know and use:
Marketing Qualified Leads (MQL)
A lead who has been deemed more likely to become a customer compared to other leads.
An internal analysis of your leads and customers can reveal your business’ MQL.
Measures the amount of goal conversions, depending on what your goal is.
If your goal is the number of click throughs to a particular landing page for example, the conversion rate is the total number of click throughs divided by the total number of visitors to your home page, times 100%.
Be specific when defining your goal, so you can accurately calculate your conversion rate.