4 Essential Online Marketing Metrics to Know

Aaaaaaaaaaaahhhhh!

There’s so much information on online marketing. You can easily find yourself pulling your hair out in a desperate attempt to figure out what to pay attention to.

No worries. We have you covered.

Here’s what you should actually care about:

  1. Sales Conversion Rate

You hear this most often referred to as “conversion rate.” It refers to the percentage of customers who actually do what you want.

This technically doesn’t have to be an action that results in a sale. But for our purposes, that’s what we’ll say “Conversion Rate” refers to. Because, that’s what finally matters to your business.

Conversion rates for service-based businesses typically run in the 1-3% range. So, it’s important to know that just a few more website visitors could result in 50% more sales.

You can always track conversion rate. It can be difficult. But it must be done.

  1. Revenue by Referring Source

Who helps you get the most revenue out of all the different possible channels that drive customers to you?

Does in-person word-of-mouth drive the most sales for you? Google? Facebook? Twitter? Instagram? Paid search? Other unknown sources?

When you know this information, you can identify where to spend more time marketing, and where you can shore up weak areas.

  1. Social Media Engagement

Size doesn’t matter. At least, in social media anyway. If you have a large audience who doesn’t engage with what you post, it doesn’t matter how big you grow your audience.

You’d rather have an engaged audience, who, when you post, takes action in droves.

So, you’d rather know the engagement rates of your audience, right?

That means measuring things like comments, likes, shares, and mentions. Those metrics carry much more meaning than the size of your audience.

  1. Email Open Rates

This is the engagement metric to measure for emails. It tells you how interesting your content for your email list is.

Again, a smaller more engaged audience is more important than a larger, less-engaged one. You only need a couple hundred subscribers.

More is always better. But, just a couple hundred can result in more sales that mean a difference to your bottom line.

Your email list subscribers love to purchase because they’re the best customers you have. Only your most devoted customers join your email list.

Plus, this is such an easy metric to track. And it also tells you what really interests your audience. So, you can learn what to talk about on your website, in your social media profiles, and even in person!

That keeps interest and results in more sales.

For any small business, those are key metrics to know. And as you improve them over time, you’ll certainly notice a difference in your bottom line.

Speak Your Mind

*

8 − five =