Blog
Measuring your company’s marketing efforts will help increase the companies revenue overtime. Metrics give you the ability to understand the effectiveness of your marketing effort. In this blog, we’ll discuss about the digital marketing metrics to measure marketing success.

Bounce Rate
The Bounce Rate digital marketing metric is the percentage of users who leave your website after viewing just a single webpage.
This important metric can assist in revealing that your website visitors might be leaving because:
They did not instantly find what they were on the lookout for on your site
The website is taking a long time to load
They came across relevant material but were not interested in clicking further
The tips you can follow to lower the bounce rate on your site include reducing your page load time and adding internal links to your webpage copy.

Conversion Rate
This is the percentage of visitors on your landing page or site that converts for digital marketing campaigns. A conversion rate based on the number of total sales generated via referral links will provide you with crucial information on the ongoing success of the concerned marketing campaign. To keep track of this metric, all you have to do is divide the number of site visitors acquired from the marketing endeavor, by the number of sales conversions generated via the Call To Actions on your website’s landing page.

Customer Acquisition Cost
Customer Acquisition Cost is a digital marketing metric that will tell you how much money you have to fork out before a prospect finally buys your service or product, or in other words, converts into a paying customer.
Several years back, tracking this cost was quite challenging. However, in the digital era of today, with numerous web-based advertising and trackable campaigns, the customer acquisition cost has become a vital and useful digital marketing metric.
Determining Customer Acquisition cost is a straightforward process: divide your total marketing expenditures during a particular time period with the total number of acquired customers.
For instance, if your organization spent $2,000 on advertising expenditures in a year, and you obtain 500 customers during that year, your Customer Acquisition Cost is $4.

Customer Lifetime Value
Customer Lifetime Value is a digital marketing metric that determines how much the typical consumer will bring into your company in revenue terms over their lifetime. With this figure, you can find out who is a valuable consumer. 
You can calculate the customer lifetime value for your business with this formula:
Customer Lifetime Value= Total revenue consumer generates for your organization - the cost of acquiring and serving that customer.

Return on Marketing Investment
ROMI or Return on marketing investment is a digital marketing metric used to gauge the effectiveness of a digital marketing campaign. It assesses results in relation to a particular digital marketing objective.
Product marketing can be costly across several available avenues like a website, print, social media, or magazines. Organizations resort to return on marketing investment to assess the success of a marketing campaign. 
A standard formula for calculating ROMI is:
(Gross Profit – Marketing Investment) / Marketing Investment
Where gross profit is total revenue collected and marketing investment is the total incurred expense on marketing across various mediums like print, online, etc. 

Share by: