Key Metrics & Tools to Evaluate Digital Marketing Campaigns

Worldwide businesses are using digital marketing services to reach large audiences or potential customers. As per a recent report, the cost of global digital marketing will hit a record-breaking 694 billion U.S. dollars in the coming years.

With a practical digital marketing campaign, its performance monitoring is critical to ensure that strategies are working effectively. Experts identified various tools and metrics to evaluate if digital marketing campaigns deliver the desired results.

Why Measuring Digital Marketing Performance is Necessary?

When it comes to marketing, there is no universal solution. Distinct goals and refined strategies are necessary to meet desired outcomes. Whatever the campaign, whether social media ads, B2b email marketing, or Google ads, continuous tracking and optimization are necessary. It helps businesses to take significant steps to maximize Return on Investment (ROI) and stay ahead of the competition.

Additionally, digital marketing campaign monitoring allows you to track the metrics that highlight the working of each strategy to identify if it aligns with the marketing funnel for lead generation and ROI. Moreover, measuring digital campaign performance helps to understand the target audience and make more informed decisions.

Reliable ways to monitor campaign performance gain significant advantages over uncertainty and ambiguity. Businesses that fail to analyze marketing campaign performance can miss out on opportunities, waste resources, and suffer underperforming strategies. That’s why measuring digital marketing performance isn’t just necessary but crucial.

What Must You Do Before Measuring Your Marketing Campaign’s Performance?

Before directing the process of digital marketing campaign monitoring, it is crucial to have a strong foundation. Effective performance monitoring isn’t just about tracking parameters, it starts with clear objectives, the right tools, and a structured plan.

Prior groundwork is necessary to ensure that marketing efforts align with goals and provide actionable insights for optimization. Below are key preparatory steps to take before measuring your campaign’s success.

You can go through all these steps with the following brief description:

Define SMART (specific, measurable, achievable, relevant, time-bound) objectives to provide a clear focus and track progress successfully.
A clear-cut timeline is necessary to ensure that pre-defined milestones are met within a moderate period.
Identify specific metrics and key performance indicators (KPIs) aligning with the associated goals of each campaign. They work as pre-identified parameters to assess the effectiveness of marketing strategies.
A timeline and schedule for tracking KPIs helps to analyze performance and provide room for improvement. Any campaign that does not drive effective results is easy to spot with regular and scheduled measurement plans.
Tools selection is important for accurate tracking and real-time insights into a campaign’s effectiveness. The right tools enable effective data collection, analysis, and interpretation. Moreover, it allows timely adjustments and optimization of marketing campaigns.
Centralize data in a customized dashboard for clearly visualizing performance metrics. It also assists with streamlined reporting and simplified decision-making. A dashboard for results is necessary for tracking KPIs and transparent performance monitoring.

What are the Key Metrics to Assess Digital Marketing Campaign Performance?

If you are employing a digital marketing service, it is highly important to track the right metrics for measuring and optimizing campaign performance. It provides unique insights into different aspects of a marketing strategy and helps businesses refine their tactics. The essential metrics and KPIs for different types of digital marketing campaigns offer businesses a comprehensive overview of what to track to improve performance across various platforms. It plays a vital role in identifying the ROI of revenue spent on digital marketing.

Here is the list of metrics of each marketing campaign that allow tracking with the help of various tools to identify its effectiveness.

Here is a brief overview of the metrics of each campaign:

Website Traffic Metrics

Website metrics help to identify marketing campaign strategy and whether it works for desired outcomes. It is a necessary element regarding brand awareness and lead generation as it clarifies the effectiveness of a B2B digital marketing strategy. The following metrics help to track website performance and competence:

Traffic by source allows you to track where visitors are coming from. It can be social media, backlinking, or paid ads. It allows businesses to identify whether the campaign is working or not.
Bounce rate helps to identify audience interests. It highlights the percentage of people who leave the website after viewing one page. It helps to optimize websites by updations of various elements such as UI & UX, landing page, and service page.
Page views find which part of the website is attracting more users. Businesses can measure the performance of each page on a website.
New and returning visitor tracking ensures that people care about your content, product, and service. It also identifies an audience that is quite interested in what you do and keeps on coming back for more from you.
Retention Rate: It is the average time someone spends on your website. A higher retention rate indicates that people saw value in your content.

Here is the visual display of some of the website traffic metrics that you can measure in Google Analytics:

Email Marketing Metrics

Email marketing campaigns allow communication with subscribers and potential customers through message service. Make sure the email marketing campaign is working effectively to nurture leads and drive conversions. To track the working of email marketing, here are the following key metrics that you can measure with a visual display of the calculation:

The open rate measures the percentage of recipients who open emails and gives you an idea of whether people find your subject lines compelling or not. It helps to identify if an audience is interested in your brand or not.
An email bounce rate refers to the percentage of undelivered emails. It highlights issues with the quality of the email list, such as misspellings or invalidity of an email address. It contributes to the improvement of email addresses to ensure higher delivery rates.
The click-through rate is the number of users who open an email. It highlights the effectiveness of the Call to Action (CTA). Lower CTR helps you to improve CTA.

PPC (Pay-Per-Click) Campaign Metrics

Businesses pay a huge amount for PPC to derive targeted traffic and for desired outcomes. It is essential to track the productivity of PPC marketing campaigns. In 2022, global search advertising spending was expected to reach $164.6 billion, projected to grow to $190.5 billion in near future. Display advertising led in 2021 with $244 billion. Here is the visual representation of various metrics of a B2b PPC campaigns where a company has used a form-filling technique for their marketing:

Following are PPC metrics that you can measure through various related tools:

Cost Per Click (CPC) is the amount you pay for each click on an ad. Tracking CPC is the budget for driving traffic to your website or landing page.
Cost per lead (CPL) is the amount spent to acquire a lead through PPC. Regular tracking helps to identify the value of the cost you are paying for lead generation.
Cost for Conversion (CPC) is the revenue businesses spend on conversions such as sales, signups, and downloads. CPC monitoring clarifies the effectiveness of marketing campaigns and whether it drives users to complete the desired action.
Cost per Acquisition (CPA) is the overall price spent to acquire new customers. It includes all costs associated with the PPC marketing campaign.

Social Media Campaign Metrics

As per the recent survey, B2B content marketers employ 1000 people just to select three organic social media platforms to bring significant results for organizations.

Social media marketing campaigns involve platforms like LinkedIn, Facebook, Twitter, and Instagram. It allows businesses to engage with audiences, build brand awareness, and drive traffic through various associated tactics. Here is the visual presentation of social media key metrics, which you can find through relevant tools:

Follower metrics identify the increase rate and show how many more people became interested in your product or service. It refers to an increase in the number of followers over time.
Social reach highlights the number of people viewing your posts. It identifies how far social media content or visuals are traveling.
The impression metric tracks how many times your content is displayed, regardless of interactions or unique viewers. It counts each instance in which the content appears, even if seen by the same person multiple times.
The engagement metric measures the level of interaction with your social media posts. It includes likes, comments, shares, and clicks. It reflects how actively users are interacting and responding to your posts.

Content Marketing Metrics

Various metrics help identify how well a content marketing campaign is going on. Various tools allow this service and provide clear identification. Here is the representation of content marketing metrics on Google Analytics:

Here is a brief overview and role of each metric included in the content marketing campaign:

Unique visitor tracking tells the number of individuals who come to a blog over a specific period. It helps to identify whether strategies help the blog’s reach and its appeal to new audiences.
Shares of blogs indicate how engaging your content is and its potential to reach more comprehensive users.
Retention rate is the average time a user spends on your content reading a blog post. A higher retention rate identifies that content is engaging and valuable to readers.
Average page scroll highlights how far users scroll down the page before leaving.
Blog Traffic as a Percentage of Site Traffic: This represents the proportion of total site traffic driven by blog posts. It shows the blog’s significance in driving overall site traffic.
Returning Visitors to the Blog: This tracks the percentage of visitors who return to your blog after their initial visit. It indicates the blog’s ability to engage and retain a loyal audience.

Best tools to measure Marketing Metrics and KPIs

Google Analytics	In a 2022 global survey, 64% of marketing professionals reported using Google Analytics to evaluate the ROI of content marketing efforts. It is the best tool to analyze website traffic.
Ahrefs	It is used in SEO analysis, particularly for backlinks and competitive analysis.
Hotjar	Hotjar offers heatmaps, session recordings, and feedback tools to visualize user interactions on a website. User performance on websites, such as clicks and scrolling down pages, is monitored with Hotjar.
Mixpanel	This analytical tool helps track user engagement, product usage, and in-app behaviors.
Voluum	It drives insights into the performance of digital marketing campaigns by tracking various metrics, such as clicks, conversions, and ROI.
Mailchimp	To analyze email campaigns, allow tools for audience segmentation and performance tracking to uplift email marketing campaigns.
Kissmetrics, Moz Cyfe, Semrush	Tools commonly used in monitoring digital marketing campaign performance.
Sprout Social, Hootsuite, Keyhole, Zoho Social, Brandwich, and Social Baker are among the most commonly used tools to monitor the performance of a social media marketing campaign. You can use them to identify if the campaign is driving effective results.

How can Digital Marketers Assist Businesses in Campaign Monitoring?

While many tools are available to help you measure and maintain your digital marketing performance, effectively managing these processes requires a high level of expertise. That’s where an expert digital marketer makes all the difference. Expertise helps businesses in the following ways:

Expert Analysis: A professional agency can provide in-depth analysis and insights that go beyond basic metrics, helping you uncover hidden opportunities for improvement.

Strategic Adjustments: With a team of experts monitoring your performance, you can rest assured that your campaigns are continually optimized for success.

Proactive Management: An expert will not only track your performance but also take proactive steps to adjust strategies as needed and ensure that your marketing efforts are always at their best.

Plan Your Next Digital Marketing Campaign With Experts at Market Pro

Measuring and maintaining your campaign’s performance is essential for achieving lasting success. You can ensure that marketing efforts drive meaningful results by staying on top of metrics, making data-driven decisions, and continuously optimizing strategies. If you want to take your performance to the next level, consider discussing and planning with professional digital marketers at Market Pro.

Ready to optimize your digital marketing campaigns? Contact us today for a free consultation and see how our experts can help you with inimitable digital marketing strategies.