How to measure the impact of an internet marketing campaign? If the importance of digital marketing services is no longer to be demonstrated, it is obvious that its impact is not always evaluated at its fair value.
For those who adopt digital marketing strategies, they would like quantitative results in 69% of the cases. To this end, how can you assess the impact of your digital marketing? What indicators are used to know the return on investment?
Consumer-specific indicators or KPIs
Several indicators can be used to measure the performance of a digital marketing strategy. Depending on the objectives of each Software company, this data will be used to analyze the source of leads or turnover, to follow the activity of social networks…
These indicators make it possible to assess the impact of a digital marketing action based on the behavioral analysis of Internet users. The results provided by these indicators can come from various sources: a web analytics or dissemination tool on social networks, the frequency and quality of internet user comments, etc.
There are strictly speaking two families of indicators:
Metrics and quantitative KPIs: which allow direct and quantified analysis
Qualitative metrics and KPIs: more suitable for an intermediate measure (change in perception of the company’s brand image) or indirect.
The data from these families of indicators can be related to price sensitivity, the number of new customers or the number of conversions on your merchant site or your marketing automation platform.
The ROI of digital activities (Return on investment)
It is the main indicator from which you can measure the profitability and the contribution of a marketing action on your activity. Many marketing professionals need more visibility on the ROI of their actions. That said, it must be followed over the long term to better appreciate its evolution curve.
The ROI indicator is generally measured by bringing in the turnover generated with regard to the activities carried out with a sufficiently fine segmentation so that we can draw reliable conclusions.
For this purpose, you must know all the resources mobilized in terms of investments. It should also be noted that the calculation of ROI involves multiple indicators linked to objectives set upstream. Once the elements mentioned have been gathered, you will be able to translate them into a simple formula:
ROI = Gain linked to investment – Cost of investment / Cost of investment
According to the results of the study cited above, 54.5% of companies use this indicator to assess the performance of their marketing strategy. The campaign mode of a marketing automation platform makes it easy to carry out these measurements.
Website traffic monitoring (traffic generation)
It is an important axis of the analysis of the performance of your digital marketing strategy. It corresponds to the number of visits recorded by your website, within a defined time interval. Monitoring traffic to your site involves several indicators including:
The volume of visits: it represents the number of Internet users on your site, and therefore your conversion potential. This session is evaluated over a day, a week, a month…
The bounce rate: it determines the percentage of Internet users who have read a single page on your site during their visit.
The sources of traffic: this indicator gives you the origin of your visitors: organic searches, social networks, paid campaigns, newsletters…
Conversion indicators (e-commerce sales or inbound marketing)
In the e-commerce sector, these indicators make it possible to assess the sales volume of your products and services thanks to your digital activities. They also provide information on your customers’ buying habits. The sales indicators are generally selected from the information related to the frequency of purchase on your site, the market share compared to your new products. The analysis of these indicators allows you to learn about the following aspects:
The sales volume of your products: number of sales recorded in a week, a month, etc.
Sales in value: turnover achieved over a given period
The rate of change in your sales in a given period
The number of unique buyers
The average basket: ratio of turnover achieved according to the number of unique buyers
In an inbound marketing repository where sales are not made online, the levels of information collection on your prospects are essential to assess the ergonomics of your website, evaluate your landing pages and optimize your call-to-action. It is also important to follow these contacts until conversion to analyze all of your activities and the most effective channels.
Monitoring of e-reputation
This indicator aims to assess the reputation of your company in its sector of activity. It places you in relation to competitors, but also helps you to understand the perception of Internet users in relation to your offers and services. It is a key indicator, which demonstrates the impact of your content and digital marketing on Internet users.
To assess your company’s e-reputation, you can use these tools:
The Google alert: quick and easy to program, it provides you with articles or publications on social networks that talk about you, in real time.
Social Mention: efficient and adapted to social media, this tool allows you to extract data from Twitter, Facebook, and LinkedIn … You can also use it to assess general resentment towards your brand on the internet.
Tweet Alarm: powerful and easy to use, this tool enables automated monitoring of your e-reputation on Twitter.
Failure to follow the indicators of e-reputation allows you to:
To assess the reputation of the company
Manage crises with responsiveness
Understand customer expectations
To detect leads
These are all indicators related to customer requests and satisfaction. To know the impact of your digital marketing strategy, it is essential to observe:
Customer satisfaction: assesses the degree of customer satisfaction with the offers and services offered by the software company. You can analyze this data in review sites and through monitoring your e-reputation. Do not hesitate to also set up satisfaction questionnaires.
The rate of defection and retention of consumers: indicators linked to the loss or gain of customer loyalty.
The cost of acquiring new customers: represents the ratio of the budget mobilized for the acquisition of prospects according to the number of customers actually acquired.
By precisely analyzing these indicators, you can assess the impact of your various digital marketing strategies. You will have all the data necessary to refine your content, refine your dissemination locations, improve your offers, or even optimize your conversion pages. It is by regularly monitoring these indicators that you will be able to increase your notoriety, generate qualified contacts, and increase your sales over the long term. For more details, contact our Inbound Marketing agency