Analytics 101 – In the digital world its super important to track how your digital marketing is performing at each stage of your customer’s journey – acquisition, behavior and outcome. in case you haven’t gone through the posts on digital marketing, you can check them out here.
Lets start with looking at acquisition first.
If you think that customer acquisition is only about getting people to your website no matter who they are and what they do there, then think again! With the kind of data and analytics available to you, you can track the value of each customer acquired and the number of such acquisitions on your platform.
Lets look at the most important metrics you need to know for direct ads –
Clicks – means how many people interact with your ad and land up on your website. This will tell you how effective your ads in getting you customers
Assists – means when your marketing effort doesn’t end up in a sale in the first visit of the customer but is strong enough to convert the customer into a sale later on. For example lets say a customer clicked on your ad and visited your website today but left without buying. However, if the same customer came back next week to make a purchase, then your original ad assisted in making the purchase.
Now lets look at social channels and what you should track there –
Impressions – means how many people have seen your content. For example if a customer sees your post on facebook or twitter, it counts as an impression
Click through rates – takes you a step further and tells you how many people were interested enough to click on that post or ad and/or interact with it.
Shares –goes even further and tells you how many people found your ad or post worthy or relevant enough to share it with their network
While all this is great, we need to always keep in mind the ultimate goal of getting more acquisitions.