How to measure ROI using Analytics:
You are advertising online, hoping for a digital transformation. All your effort & planning for a digital campaign needs comprehensive ROI. (Return on Investment). Are you meeting your business objectives? What areas need improvement? Which keywords or SEO (Search Engine Optimization) Metadata Tags are working?
Here is a quick guide on how to understand all of the data coming your way, & using it to update your Google, facebook, twitter, linkedin, or other media campaigns.
Page views tell you how many & which of your content pages your visitors are on. This can help identify the content that is performing best!
Page views data can be skewed by visitors who click through many pages or visit your site repeatedly. Unique Visitor stats tell you the overall size of your audience, & how many are repeaters.
Average Time on Page:
The Average Time on a page gives you insight as to whether people are quickly skimming your content or sticking around to consume it more slowly.
How many people opened your email? At what time did they open it? This offers insight into the best time of day to send email & how effective your subject lines are.
Email Clicks on links within your email show which were the most popular. This helps you choose more clickable links.
Asset Downloads/ Form Completions:
How many times a potential customer fills out the form preceding the content completely with valid information.
How many visitors are return visitors vs. new ones. Its good to have new & returning visitors, but you will have a different relationship with both.
Bounce Rate is calculated based on 2 clicks; the ENTRY click, & the EXIT click. If both these clicks occur from the same page on your site. This is counted as a “Bounce” because, the reader didn’t click on other links to explore your site.
Pages Per Visit:
While bounce rate measures the people who leave, Pages Per Visit quantifies people who do stick around.
Unsubscribes & Opt Outs:
You can track retention of existing email list subscribers by keeping an eye on unsubscribes & opt outs. Similarly you will want to track new subscribers to see if you can grow your list at the same time.
For Social Media; the primary means of retaining a visitor is receiving a “Follow” from them. This way they can continue to get updates & hopefully come back to your site.
Similar to emails you can measure the number of feed subscribers to gauge retention.
Social Media Shares:
What type of content motivates visitors to share.
Social Media Links:
You can measure likes or favourite’s as a way of estimating shares, since liked content often shows up on the feeds of friends & followers.
Not all forwards can be quantified as people can click forward within their email rather than on the “Forward to a Friend” button embedded in the email. Though you can use it to estimate.
The number of comments on a given piece of content can give a feel of engagement. Many conversations happen in blog comments. Always respond!
Session Duration or Dwell Time:
Session Duration is the length of time a visitor spends on your site during a visit across multiple pages.
This shows you how many pages your visitors are visiting per session. Are they reading 1 piece of content & then leaving? Or are they very engaged & consuming several pieces of content.
New Leads Generation:
To find the number of leads generated use your marketing automation tool & CRM to calculate how many new leads came into your database after touching a piece of content.
Existing Leads Touched:
To find the number of leads touched, use your marketing automation tool & CRM to calculate how many leads in your database interacted with a piece of content.
Funnel Conversion Rate:
Which pieces of content helped convert leads lower into the funnel the most?
Using a first touch attribution model, you can gauge the total dollar value of all opportunities where the first touch of the lead associated with the opportunity was with a piece of your content.
You can determine the total dollar value of all the opportunities where the leads associated with the opportunity has touched a particular piece of content.
Look at the dollar value of revenue closed where the contact associated with the deal consumed one or more pieces of your content prior to converting.
PRODUCTION COST METRICS
Time to publish:
How long does it take to move from an idea to a published piece of content?
This refers to the content produced in a certain amount of time. Say Monthly or Quarterly.
Content Backlog will give you a sense of how quickly your readers are consuming your content. Compute the average number of days between posts divided by the average number of days since the last visit.
Production Cost per Piece or Post:
Calculated costs include staff time, or freelance invoices. This is useful for future budget & planning purposes.
Distribution Cost per Piece or Post:
Content distribution is measured by costs like time or money spent promoting on Social Media or using advertising networks, like Google or Facebook.
If you need help figuring out you analytics or digital tracking of social media, please send me an email! Sarahvanmarketing@gmail.com