How Can I Know if my Digital Marketing Strategy is Working?
It seems that many businesses treat their digital marketing like a crap shoot. You throw money at it and hope for the best. You might get results occasionally, but digital marketing can seem ambiguous and challenging to really determine its effectiveness.
However, when your profit margin and even the survival of your business are at stake, it isn’t wise to toss money at something like digital marketing without having a clear and definable ROI. You should have metrics in place to know if your digital marketing campaigns are producing favorable results.
Although each company is different, there are reliable indicators that you can refer to in order to evaluate your digital marketing campaigns. However, calculating the degree of success of your campaigns involves more than merely asking customers how they learned about your business.
Good digital marketing does not mean simply spending money on campaigns and not having tools to measure success. Rather, it is about converting marketing spending into real, actual sales for your company.
What this blog article will do is shed light on how to close the gap between your marketing initiatives and your sales. How, indeed, do your digital marketing efforts lead to more sales?
We will showcase various forms of digital marketing and illustrate how you define success for each of them.
Determining Success with Digital Marketing
Success with Email Marketing
The main way to determine success with email marketing is by looking at the open rate. The open rate measures the percentage of people who receive your email and actually open it. If your leads are opening your emails, that tells you two things: it made it to their inbo
x, and they were curious or interested enough to open it.
Your email subscribers will decide whether to open your email or not based on the subject line and their opinion of the sender. The ultimate goal is a high open rate, which signals strong interest in your email. It also increases the chances of a greater number of new leads for your business.
CTR (Click-through rate)
The CTR measures how many clicks to your content that your emails are generating. A high CTR means the content your subscribers receive in your email is highly relevant to them and sufficiently interests them to seek out more information.
Success with SEO (Search Engine Optimization)
The SEO measures the number of keywords that you are optimizing for that display on the first page of SERPs (Search Engine Results Pages).
This is an indicator of how effective your SEO initiatives are. For example, if you are optimizing for 150 words and only have 30 onto the first page of Google, that is not an impressive result. You will find that SEO is among the most effective ways to generate traffic to your website.
If your business ranks high for relevant keywords, you are increasing the size of your funnel’s top end.
It is in the best interest of your business to especially focus on the number of first-page keywords. First page keywords are what you should be tracking to accurately assess your success with SEO.
Success with Social Media
In order to determine success for your digital marketing campaign with respect to social media, you want to find out what percentage of your website traffic is coming from social media.
In essence, you want to measure the percentage of visitors to your website that originate from social media channels. Ultimately, your goal is to have your social media increase the size of your funnel’s top end by driving more traffic.
You want the tools in place to find out what proportion of visitors to your site came from social, as opposed to other online channels.
If you are running effective social media campaigns and increasing your social presence, that will increase the size of your funnel. This also means that your marketing messages are resonating with your audience enough to motivate them to visit and explore your website.
Success with Website Marketing
Your main metric for determining the success of your website marketing is the number of sessions per month. The number of sessions means the amount of times that visitors come to your website during a particular month.
If you have a higher number of sessions, that tells you that your digital marketing campaigns are performing well and building the top end of your funnel.
The next metric to focus on when it comes to website marketing is the conversion rate. This measures the ratio between sessions and conversions. Your conversion rate consists of visitors to your site who become your newest customers. When you experience higher conversion rates that indicates that your marketing content, along with the design of your site, are compelling enough to motivate visitors to take action and decide to purchase your products or services.
The additional good news is that your brand messaging is positively influencing visitors to your site and inspiring them to learn more about what you are selling.
These are the metrics you want to pay attention to when it comes to measuring the success of your digital marketing campaigns. If you adhere to these metrics and learn from them, then you are assured of realizing more success from digital marketing, which will produce a consistent pool of new customers and a healthy bottom line.
Spotted Fox Digital Marketing — Building Brands with Purpose and Passion
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