It is good to sweat night and day, trying to achieve something but wouldn’t you want to track it as well to know how far along the way have you gone? Internet marketing is an extensive venture that requires rigorous hard work, and investment of time as well as money which is why you need some metrics to know whether the decision made was in the right direction or not.
For any business growth strategy, checking, evaluating an adapting according to the key performance indicators is an imperative part. Without it, it is hard to imagine success in an online promotional campaign. Whether you are a small scale business or a full fledged multinational corporation, you do need the following key performance indicators for Internet marketing.
1. Number of leads generated
This refers to the number of positive leads generated by your business website or promotional campaign. This would include all contact form inquiries and interested buyers dropping in messages for more information.
2. Conversion rate of inquiry
Your business does get leads but how many of them actually get converted to customers? Measuring this is important as this helps in assessment of your core marketing campaign.
3. Successful referrals
Your customers refer other customers and in this process, you get more leads and customers. Check for referral codes entered and redeemed in your business. This will help you understand how well your customers are taking your product or service.
4. Number of pages visited
The next important metrics to be taken into account is the number of pages visited. You might have a dynamic 20 page website but what pages are receiving more count is what you need to know. This can help in improving other pages to a great extent and thus increase the traffic.
5. Click heat map
Assessing the click patterns of your customers is equally important. Check for which part of your website receives more clicks and if the clicks have increased since the marketing campaign. This will give you a clearer picture of what people think about you.
6. Incoming traffic
Incoming traffic evaluation and measurement is crucial for the indexing the successful performance of any marketing campaign. By knowing what customers or how many customers are showing interest, you can know how effective your marketing campaign really was.
7. Search Term relevance
Search term result relevance is another important parameter that you need to consider. Do make sure that you have the search terms listed along with your position in the search engine for the particular term. This will give you a better idea about the linking and content design of your internet marketing.
8. Customer life value
You might get a lead converted to a valuable customer but can you ensure their loyalty? Customer life value is measured as the time duration of the customer maintaining his or her loyalty towards you and your business. This will help you reduce the features or products and services that turn customers off.
9. Sales generated
And finally, the sales generated and the revenue accumulated is an important thing to be noted as always. Better the marketing, better the lead generation and conversion and thus better the generated sales.
Make sure that you monitor all your Key performance indicators well and get the best possible results from your internet marketing.