To ensure that your marketing is effective, you must look for how well certain aspects are performing. Unfortunately, that is often easier said than done since most business owners are puzzled by the vast amount of data available.
To make matters worse, marketing trends can change over time, meaning that you need to be up-to-date on the relevant metrics.
Sifting through all the marketing information from your campaigns can be a daunting task. However, it would help if you weren’t discouraged since we have plenty of useful guides available.
To help you understand the intricacies of modern online marketing, we’ve put together a list of 8 digital marketing metrics you should keep an eye on in 2022.
Know how to collect and analyze data
Before we dive into the specific metrics, we would like to point out that you should have a good idea of collecting the information you will be looking at.
If you are outsourcing your marketing, they could pull up any stats and make charts where all the lines go up. Therefore, we suggest looking at Key Performance Indicators that are easy to measure and understand. However, most important is that the metrics you are tracking can give you actionable insights that you can apply.
Another thing you must understand about modern marketing is that the data we use to express it is also changing. For a while, marketing has become increasingly user-centric.
Although that’s nothing new, marketers have started to look at user comments and are now gaining insights from unstructured data.
This type of data represents information that you cannot place in tables or charts, and these are datasets that you will have trouble storing in a structured database format.
You will need to develop ways of collecting, storing, and analyzing unstructured data to keep up with the competition and get more information about the effectiveness of your marketing campaigns.
8 digital marketing metrics you should keep an eye on in 2022:
Incoming traffic sources
Obviously, the centerpiece of your marketing campaigns is going to be your website.
We probably don’t need to mention that your website needs to be modern and easy to use. It’s always good to pay attention to the latest web development trends since your site can make or break your campaign.
This is where all your ads lead users and where you will convert them to paying customers. Although measuring website visitors will give you some information, you will have difficulty understanding why the number of visitors is going up or down. However, knowing where that traffic is coming from will be much more helpful.
Differentiating incoming traffic by source can tell you which of your campaigns or platforms isn’t working as planned.
You can make slight adjustments and tweak ads based on their performance.
This approach can also give you much room to experiment and perform a simple A/B test for new ads to see which version is more effective.
Email open rate
Although emails represent one of the earliest forms of digital marketing, they still have a place in any modern marketing campaign.
Emails are a great way to supplement other forms of advertising because they are affordable, flexible, and easy to use.
However, all that will mean nothing if your users don’t read the emails you send them. Email open rates will show the percentage of users who opened your messages.
Low open rates indicate that you will need to change something regarding your email marketing to make it more appealing. Personalize your messages, include short yet punchy subject lines, and add a bit of flair with attractive images.
Your click-through rate (CTR) is a metric adjacent to email marketing and PPC advertising.
The CTR represents the number of users that have clicked on one of your ads or a link you’ve sent them versus the total number of people that viewed it.
A high click-through rate means that your paid marketing is performing well and your cost per click (CPC) is low. You can use CTR as a measure of success when testing different versions of your ads.
Cost per conversion
Conversions happen when website visitors perform one of your desired actions.
Those actions include clicking on a Call to Action, downloading your eBook, subscribing to your newsletter, or purchasing a product. The cost per conversion (CPC) represents how much money you need to spend on marketing for a user to perform that action.
Carefully define which parameter you will measure the cost per conversion for. A low CPC means that your website and marketing are working in tandem to entice users to perform the actions you want them to.
Monitor user interaction with your brand
We suggest you forgo metrics such as individual session time and look at the number of interactions instead.
For example, using CRM software to monitor how visitors are interacting with your brand will give you comprehensive information on the types of content users are interested in.
If your users spend more time reading articles, you can create many in-depth pieces. On the other hand, if users are primarily interested in visual content, then you can create infographics and video tutorials.
Your bounce rate represents the number of users who leave your website immediately after arriving without performing other actions.
There could be many reasons for a bounce, but they mainly indicate poor website design and a weak CTA.
Try to reduce this metric and keep users on your site longer since that increases your chances of making a conversion.
It would be best if you tried to figure out what is causing users to leave your site. The easiest method is to have separate landing pages with different layouts and CTAs to test how users respond.
Social media mentions
While there are many metrics you can track for social media marketing, we suggest paying attention to your mentions.
Just looking at the number of followers your social media profiles have won’t tell you much since, without any additional information, that is a static number.
You’ll want to know how often users are engaging with your brand and are they talking about you on their profiles. Try running a social media campaign with a specialized filter or hashtag to see how many users join in.
Regarding website mentions outside of social media, you can set up an alert on Google’s Console to notify you.
Return on investment
Marketing costs money, and regardless of how large your advertising budget is, you’ll want to make sure you are getting a return on your investment (ROI).
Track how much you are paying for each form of marketing and how well that marketing is performing in terms of generating value for your company. Of course, you can do a detailed breakdown of individual costs.
For example, you could calculate the marketing cost needed to generate one website visitor (CPV) or look at the cost per conversion (CPC). Whatever metric you are looking at, always remember to factor in how much you paid for it and the ROI.
Since trends change constantly, it is a good idea to check what’s new in online marketing continually.
For this reason, we constructed our list of 8 digital marketing metrics you should keep an eye on in 2022. We hope you have a deeper understanding of digital marketing and that you’ve gained some insight from our article.
By looking at the right metrics, you can tell if your marketing is giving the expected results. Keep in mind that any changes you implement will take some time to show measurable results. Therefore, we advise that you don’t change too many things at once.
Meta description: If you don’t know how to measure the effectiveness of your marketing, check out these 8 digital marketing metrics you should keep an eye on in 2022.