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In this article, we will learn about KPIs in Digital Marketing and why they are crucial for measuring success in 2023.
A KPI (Key Performance Indicator) in digital marketing is a metric used to evaluate the performance of a digital marketing campaign. It helps businesses track their progress towards achieving their digital marketing goals and objectives.
Example:
A small e-commerce business selling handmade items just launched a social media promotion. By monitoring the following Digital Marketing KPIs they can optimize their strategy and drive more sales.
Calculated by dividing the total cost of a digital marketing campaign by the number of new customers acquired.
Measures the number of clicks an ad or link receives divided by the number of impressions it generates.
Measures the level of interaction that a brand or product receives on social media, such as likes, shares, and comments.
The percentage of email recipients who open a marketing email.
The percentage of emails which failed to send.
Percentage of website visitors who take a desired action, such as making a purchase or filling out a form.
Measures the percentage of website visitors who add items to their shopping cart but do not complete the purchase.
The percentage of website visitors who become leads.
Percentage of customers who continue to use a product or service over a specific period.
The total value of a customer to a business over their entire relationship.
Measures the rate at which customers stop using a product or service over a specific period.
Measures the amount of revenue generated by a digital marketing campaign compared to the total cost of the campaign.
Measures the average amount of revenue generated by each user or customer over a specific period.
It is the percentage of revenue that remains after deducting all expenses, and represents the amount of profit a business makes on each dollar of sales.
The total number of visitors to a website over a specific period.
Volume of website traffic generated by referrals from other websites.
Measures how well a website ranks on search engine results pages for targeted keywords.
The total number of people who have seen a brand's social media content.
The overall attitude and perception of a brand among its target audience.
Measures how well a brand is remembered or recognized by its target audience.
