Internet Marketing Analytics & Monitoring
1. Linking Internet Marketing Strategy to metricsA large part of a marketing strategy is an improvement. Anyone involved in marketing will know that the key to success is constant change and improvement. This is especially true for online marketing, where trends change at a rapid pace. The best way to understand when to change strategies or single aspects of an existing strategy is through metrics. Metrics allow marketers to measure the different elements of online marketing – from social media to web traffic. These measurements showcase the beginning stage of the campaign, how the campaign is currently performing and where changes need to be implemented. Metrics or Key Performance Indicators (KPIs) are critical not only to the marketers but to executives on all levels of the company. From the CEO to the sales manager, metrics and efficiency go hand in hand. There are a few key tips for effective metrics measurement:
- Defining the right metrics : The metrics that are set define the direction of the company and need to be considered carefully. Moreover, it is critical that the metrics do not encourage negative behavior within the company. Encouraging employees to cut corners in order to meet a certain standard can be detrimental for the company.
- Get the seniors on your side : Senior management can play a crucial role in how changes in metrics are handled by the employees. This is important especially when the changes that need to be made are major and can affect different departments.
- Collecting data : Identify how the data is collected and see if the tools/ resources that are chosen can provide this data. If not, more investment will be necessary. The data that is collected needs to be standardized in order to become beneficial.
- Change when necessary : Collecting data is useful only when you know what to do with it. Making changes as required is the most important step and the goal of collecting metrics
There are many other factors that are relevant to choosing the right marketing metrics. We at Globibo Media have the expertise to guide marketing teams from across different industries to choose the right metrics and make changes where necessary.
2. Top 20 KPI / metrics for Internet MarketingWhile every company has their own set of metrics to monitor, some metrics are universal and must be tracked carefully:
- Sales : The bottom line is the most important for a successful company. Putting money into marketing is pointless if there is no profit to show for it. Sales are the driving force and must increase steadily as more time and money is put into it.
- Web Traffic : The amount of visitors to your site is an indicator and a precursor of the expected number of customers. Page views, sessions, new users, average session times and bounce rate need to be measured thoroughly.
- Website Traffic and website leads ratio : The ratio of the number of people that visit your site compared to the number of leads you get, reveals the conversion rate for your website. If the ratio is off balance, marketers have to step up and make changes to keep the ratio in check.
- Leads : The number of potential new customers that develop for every campaign that is put out or over a certain period of time needs to be tracked. Marketing is the key source of leads and good marketing delivers good numbers.
- The Value of a single customer : The average value of each new customer needs to be tracked in order to find out how much a customer spends on average while enlisting your company’s services. This value can then be driven up by offering combo packs.
- Landing page conversions : Your landing page is your company’s first impression. If customers are not going past the landing page, then your company is in big trouble. Your marketing has to be stepped up and the landing page needs to be improved dramatically.
- Content views : The number of views on the blog posts, images, social media posts and any other type of content you post online is a good indicator of growth or slump. The more views you get, the better your brand’s reach.
- Inbound links : These links are posted by other users and are a sign that your reputation within the industry is growing. As such, inbound links are a great way to improve SEO and climb rankings. More links, more exposure.
- Social media : There are numerous social media metrics that need to covered like comments, likes and shares. Apart from the basic metrics, more complicated ones like the most shared posts and engagement metrics also need to be tracked.
- Email marketing metrics : Marketers know the benefits of email marketing, but there is always room for improvement. The amount of people that are opening your mails and following the links in them indicate the general mood towards your company. A failure to grow can be avoided by changing marketing tactics.
- Leads to marketable leads ratio : On all the platforms that you target, how many leads are marketable to? This ratio is indicative of the quality of the marketing – the better the marketing, the better the quality of leads.
- Marketable leads to sales leads ratio : Marketable leads have to turn into sales leads before they become customers. Sales leads are indicative of customers that seriously considered your services before either opting for them or opting for a different company.
- Website engagement : Website engagement refers to how users interact with your site. Apart from web traffic, do the users that visit leave comments, share your posts, check out your services? All of this needs to be tracked as well.
- Organic searches : Apart from ads and shared links, organic search results are a good source of traffic. This is where good SEO shows it’s results as the company’s page(s) start getting ranked higher on search engines.
- Mobile Traffic : Smartphones and tablets are gaining traction as reliable devices for making purchases. As such, mobile traffic is an increasingly important metric.
- Cost Per Acquisition : CPA is a metric that shows how much money is spent on acquiring each new customer. This has an impact on the budget and all future plans.
- Sales Response time : While getting leads is important, the amount of time it takes to respond to a lead is equally important. The potential to move a customer from lead to sale, decreases the longer it takes to respond to their first inquiry.
- Total conversions : The company’s total conversions are the final indicator of growth. The total number of conversions across all platforms is an important figure. Typically, conversions can refer to the customer performing a desired action.
3. Own Web Site vs Entire Web Marketing MonitoringMarketers have to make it a point to monitor their own websites as well as the rest of the internet. While monitoring the company’s website, a marketer has to look for metrics about their search engine rankings, traffic, conversions and content. Solely focusing on the company’s website is not the ideal route for growth. Monitoring your competitors and the rest of the internet is the sure-fire way to make sure you are up to date on all the trends and thus, more relatable to your audience. Many metrics tools and services offer extensive data that allows companies to prize themselves against their competitors and the giants of the industry. Marketing teams often do not have the time to do an in-depth comparison with their competitors or identify the latest talking points. This is where Globibo Media comes in – we have the tools and knowledge to get you all the data required to enhance your marketing.
4. Social Media Monitoring & Social ListeningOnline marketing metrics are useless without the use of social media metrics. Social media is a critical source of leads for most marketers and it is important to track metrics related to engagement, reach and leads. Generally, likes, shares, comments, no. of followers, mentions and leads are the usual KPIs that are measured. Monitoring social media also involves social listening. This type of listening will gain marketers insight into their customers’ minds and allows for better campaigns. Moreover, social listening helps marketers gauge the overall mood related to a certain topic and the company itself. This allows marketers to craft content suitably and target customers better. No marketing campaign is complete without social listening and detailed social media analytics. Different social media platforms have different metrics to measure and Globibo Media offers the best services to help marketers find out which ones are the most useful.
5. Internet Marketing Analytic ToolsAt Globibo Media we are committed to getting the most detailed analytics for all mediums of marketing. As such, we use a variety of tools to monitor metrics from websites as well as social media. When it comes to tracking and monitoring different aspects of online marketing, here are some tools that are extremely popular:
- Google Analytics – Tracks everything related to your website and gives detailed reports.
- Radian6 – Social media listening is taken to the next level with Radian6 as it offers a comprehensive to track multiple metrics.
- Alexa – Tracks and ranks your website among other websites.
- Google Webmaster Tools – These tools are perfect for SEO purposes as they showcase and allows users to modify aspects of their websites.
- Crazy Egg – Measures the usability of your website by setting up heat maps. This tool can be used to find out what areas your visitors like most and what keeps them coming back.
- Chartbeat – Provides a dashboard that contains metrics like number of readers, most shared content and most read content along with other factors.
- Compete – Offers competitive intelligence about yours and your competitor's websites and how customers find your site.
- ClickTale – Tracks all your visitors’ clicks from the first to the last. Allows marketers to identify which aspects interests the customers more, where they’re getting stuck and much more.
- SproutSocial – A must for tracking social media analytics, this tool is perfect for businesses of all sizes.
6. Internal vs External Internet Marketing Monitoring teamMany marketing teams make the mistake of hiring an internal metrics team that monitors all the aspects of a campaign. While this may work for small businesses, this method is unsuitable for large, established businesses. Allocating monitoring to existing employees will often lead to disaster as they need to be told what to track and when to do it. Monitoring is a 24/7 process that requires concentration. Moreover, those in charge of monitoring should also be in a position to make decisions that affect the campaign. They also need to understand what they’re listening for, rather than just going off of the stats posted on the screen. Businesses do not have the time or expertise to monitor, track and make changes. Globibo Media can work with companies from all industries to track, monitor and modify to make their marketing campaigns more effective. So what are you waiting for? Take a load off your marketing managers’ shoulders and let us do all the complicated work.
7. Passive vs Active Internet Marketing MonitoringMonitoring metrics for social media and websites is no simple task. Marketers in established companies have a ton of tasks to complete and monitoring often takes a back seat to more immediate tasks. This leads to passive monitoring – where marketers check the stats once in a while to make sure everything is okay. Passive monitoring is basically when no immediate action is taken to make sure that all metrics are satisfactory. Active monitoring is the way to go for successful marketing. Marketers that actively monitor the metrics also make changes when necessary, to keep all metrics up to a certain standard. They have the knowledge to understand when something isn’t going as planned and they have the power to change it. Globibo Media is the perfect solution for the active monitoring of every company’s content, website and social media. Our experienced team can get the best and most relevant of the all the data that is being tracked and focus on the ones that can help with improving the client’s overall online development. Below is an example of our internet presence report for foreign company in Chinese market. Company name has been removed. click to download IM report-General
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