Digital Marketing KPIs to Increase Sales
Digital marketing is one of the most popular ways for businesses to try to increase sales. In fact, spending on digital marketing is projected to increase by anywhere from 12-15 percent.
What’s surprising about this number is that according to recent research, many businesses have a hard time measuring the results of their digital marketing campaigns. A third of marketers don’t know which digital marketing efforts have the best revenue impact, and some businesses don’t even track metrics that give this information.
To make sure you are spending your digital marketing budget in a way that will help you increase sales, here are the top digital marketing KPIs you should be tracking, and information on how they help inform your strategy.
1. Email marketing KPIs
It probably won’t surprise you that email marketing is among the best marketing techniques to increase sales. In fact, 60% of marketers say that email marketing is producing an ROI for their organization, and 32% of marketers say that email marketing will produce an ROI for their organization. Other reports even indicate that email marketing can yield $44 for every $1 spent.
While marketers believe email marketing is the best e-commerce tool, it’s important to remember that not every email will be as equally as effective in generating sales. The process of getting emails to convert includes a mix of creativity, strategy, and, of course, data analytics.
To help you make sure your email marketing strategy is converting into sales, here are the top email marketing metrics you should be measuring.
Click-through rate (CTR)
Click-through rate is the measure of how many people clicked on a hyperlink, CTA or image within a particular email.
Click-through rate is important because it helps you measure how well your emails are performing, which calls to action are encouraging activity, and if your click-through rates are changing (for good or bad) based on your email marketing strategies.
Conversion is the percentage of subscribers who complete a goal action. Conversions tell how many of the subscribers that clicked-through followed through on your desired outcome. This could include making a purchase, subscribing to an email list, downloading a report, sending a referral your way, registering for an online class, and more.
Return on investment (ROI)
Not only is it a good idea to measure conversions, but it’s also important to measure your overall ROI. Overall ROI will tell you how much you made in total sales minus the money you invested in the campaign.
Overall ROI will give you an idea of how well your campaigns are contributing to the overall profits of your company.
Unique open rate
If you are looking to understand just how effective your subject lines are, unique open rate is the perfect KPI to monitor.
Unique open rate determines the amount of distinct opens of your email. Unique open rate will only count one open no matter how many times a subscriber reopens the same email. Total opens, on the other hand, counts the total number of times any Go to the full article.