Online marketing may be an unnecessary expense for many entrepreneurs. It is something that entrepreneurs will only dedicate when other areas are all covered. This is due to the performance and the result of an online marketing campaign is not something that you can predict. It can get you more customers and gain success but it can also be an apparent failure. Failure in online marketing means the loss of money and time. However, digital marketing can be science with correct analysis rather than simply a game of change. Analyzing digital marketing is one of the best ways to evaluate whether online marketing works well and also give insight on what aspect to improve. To get correct analysis of marketing data as well as get a reasonable result, here are some aspects to analyze.
The first factor to evaluate is sales revenue. Many marketers overlook sales revenue but in fact, it is not easy to engage in sales revenue by a certain amount of time into actual marketing activity. Without sales revenue, it will be difficult to see whether the digital marketing well performs or not. To be able to measure sales revenue, you will need a software program specifically designed to measure sales data and other related key performance. The main goal is to get a clear insight into the increasing sales during a certain amount of time.
Social media engagement
Social media is a powerful platform for digital marketing. Countless quality online marketing campaigns start and end with social media. No wonder if social media engagement becomes one of the most important standards to measure the success of a brand campaign. When analyzing social media engagement, it is important to track the engagement rate including the record of likes, engagement rate by post, as well as shares and comments.
Customer retention rate
In any digital marketing campaign, current clients or customer is the most valuable assets. It is important to keep them intact as well as measuring the client retention rate. This point is not as complicated as it seems since you need to keep track of sales in a certain amount of time or how many coupons are used in the system.
Another point to analyze is the website traffic. This can be done using Google Analytics and you can get clear information about your company and whether the marketing campaign truly works or not. You can also use other programs to get information. However, analyzing site traffic help growing awareness and help you to get a better target in the future as well as hone buyer personas.
Cost per click
Cost per click or CPC is a way to measure the effectiveness of investment in advertising. It is simply the amount of click that you have on a specific digital campaign based on the money you have invested. Analyzing CPC allows you to see which specific ads perform well and be the best potential ads for the budget.