Research shows that email, social media, and websites are the top three channels for engaging with consumers. Whether they’re using mobile or desktop, the majority of your customers use these channels to learn and compare products and services. They are also best used for engaging with the customer before and after purchase. If executed correctly, all three can work together to form a smooth, positive experience. And after all of your hard work creating the campaign, you as a marketer are tasked with measuring the metrics and return on investment (ROI) of your campaigns. But measuring your digital campaigns’ ROI can be difficult if you don’t know what you’re looking for. With so many numbers out there to crunch, how do you know which ones to focus on?
You can use soft metrics like impressions, engagement, and visitors which are essential for shaping your marketing strategy into a winning game plan. Or you could focus on hard metrics, like spend and revenue, and are typically where your execs’ will focus. Both hard and soft metrics feed into calculating ROI
You can think of ROI metrics as three separate categories: front-end, middle, and back-end.
- Front-end metrics, such as click-through-rate (CTR) and engagement ratio, tell you if your content is relatable enough to inspire action by your target audience.
- Middle metrics note measures like conversion rate and bounce rate that show you the number of leads inching closer to client status.
- Back-end metrics like pipeline and revenue show you not only how your marketing efforts have been hitting the company card but also how much revenue you’re receiving in return. These are the usual metrics for measuring your financial ROI.
In this blog, I’ll cover how to measure digital marketing metrics and ROI for email, social media, and website landing pages.
Email has come a long way since its inception—the year when Jean Knight’s “Mr. Big Stuff” swayed all of the hips—to where we see it today, and it continues to be a primary source for brands to engage with their consumers. Whether it’s through newsletters, inquiries, or purchase confirmations, email remains a quality avenue of information and communication between consumers and brands. Thanks to new advances in technology and email marketing services, we now have more efficient ways to carry out campaigns and access to various ROI metrics.
If you’ve run an email campaign before, then most of the following metrics should be familiar to you. But as email evolves, it’s important to keep an eye out for new updates and features—there just might be something new to add to your reports. Don’t forget! Incorporate tracking parameters in your emails, so you know where to attribute any leads and successes.
When measuring the initial success of your email campaign, especially when using A/B testing, pay attention to the following:
Bounce Rate. Are there any emails that failed to send? Remove false emails from your list, so you don’t continue paying for inactive addresses. Plus, a high bounce rate will count negatively towards your campaign and might even label Go to the full article.