Most small business owners rely on a variety of financial and operational data to make decisions and form strategies, but digital marketing metrics are equally important. While there are hundreds of statistics and algorithms to track marketing efforts and customer behaviors, the most important metrics are usually related to traffic, revenue and conversions.
Traffic Channels and Sources
Segmenting traffic sources will identify which ones are under performing and performing quite well.
There are four basic traffic channels:
- There are direct visitors who type the URL into their browsers
- and there are organic visitors who arrive via search engines.
- Referral visitors arrive through blog and website links.
- Social media visitors actually provide the best insights through enhanced traffic tracking and available statistics.
Total New Visitors vs. Return Visitors
The total number of return visitors indicates the quality and usefulness of digital content. Weekly and monthly comparisons, when correlated with online topics, will quickly clarify which type of content is most engaging. Websites with a sudden high ratio of new visitors over return visitors may signify that only new content is driving traffic to the website. The number of total new visitors is a basic statistic to benchmark the effectiveness of digital marketing campaigns.
Timing and Bouncing
The time on site metric will clarify interactions per visit and the level of visitor engagement. This is an all-purpose indicator of site performance and content appeal. Visitors who spend the most time on the website will most likely be the most loyal customers. Understanding their interaction times will help you optimize content to increase their lifetime value.
The bounce rate will tell you how many people immediately leave your website without any meaningful actions. This may indicate weak landing pages and poor traffic sources.
Websites with multi-page conversion processes may benefit from exit rate monitoring. This differs from the bounce rate because it tracks the number of visitors who exit the website from specific pages. This helps to identify drop-off points in the sales pipeline and conversion process and create optimization opportunities.