Creating and executing digital marketing tactics can help your business move forward. But that’s not the only thing you should focus on! To ensure success, it’s also essential to analyze your digital marketing metrics. With the obtained data in digital marketing, you’ll be able to discover which strategies are working or not. Moreover, it will help prevent you from blindly following marketing tips for small business owners that are not really suited for your biz.  With several digital marketing solutions for small business available, it’s tough to figure out which ones are legit. The solution? Trust your own platforms’ insights and analytics. If you’re new to data-driven digital marketing, this article will highlight its significance and share with you some of the most important metrics for your business.

Importance of analyzing data in Digital Marketing

Many small businesses are aware of the need to analyze data. But they often lack a clear understanding of how it can benefit their biz. As a result, they often dismiss data analysis as a burdensome task. 

However, it’s crucial to recognize the importance of digital marketing in business that’s data-driven. Here are some of the reasons why it shouldn’t be overlooked:

Helps determine what your target audience really wants

The gathered data in digital marketing allows you to eliminate any guesswork and helps you find out the “real” preference of your target audience. For example, if your social media analytics say that your audience prefers videos over plain text and still images, you can consider going all-in on making more videos.

Allows you to predict customer behavior

Let’s say you’re a food and packaging company. The data reveals that more people are engaging with your glass jar products. Since people are interested in these products, you can anticipate that posts about using or cooking food with glass jars will be popular among your customers.

Helps discover more relevant content ideas for your customers

Analytics tools help you identify your top-performing posts. If your data shows that your how-to posts and explainer videos perform better, you can use this valuable information to generate more informative posts to improve customer engagement.

Lets you improve customer experience

By leveraging the data in digital marketing, you have the power to significantly enhance your customers’ experience. If you take into account their preferences and tailor your approach accordingly, you can make their visits to your business website and social media platforms much more enjoyable and satisfying.

Provides insights on which platforms you should focus on

Some marketing tips for small business owners suggest that you should be on every social media platform. But if you have limited staff and budget, it’s better to focus on the best ones. So how do you decide? Analyze the insights of each channel. If your posts aren’t gaining traction, consider leaving that platform temporarily.

Digital marketing metrics you shouldn’t ignore

Now that you’ve learned the importance of digital marketing in business that’s data-driven, we’re now going to tackle some of the most essential digital marketing metrics for your biz.

User-centric metrics

User-centric metrics focus on gathering data in digital marketing that revolve around the needs and behaviors of your users or customers. Examples of user-centric metrics include the following:

• User satisfaction. If you want to find out if your customers are happy or not, you can conduct a survey, or you can invite your users to rate your business on your Facebook Business Page, Google Reviews, or Yelp.
• User engagement. A high user engagement indicates the effectiveness of your marketing efforts. To measure the user engagement of your business website, you can check out your users’ page views, session duration, and bounce rate. In social media, user engagement can be measured through the number of likes, shares, and comments.
• Conversion rate. This metric evaluates whether your customers are taking desired actions. How many customers made purchases or signed up for your newsletter?
• User retention. User retention refers to the rate at which existing customers continue to use your platforms, products, or services. To improve user retention, focus on creating more engaging content and enhancing product quality and service delivery.

These are just a few examples of user-centric metrics. If you want to learn more about user-centric metrics, contact providers of digital marketing solutions for small business such as Eight Media.

SEO metrics

Got a business website? Then you should also pay attention to your website’s search engine optimization or SEO metrics. 

SEO metrics help measure the effectiveness of your SEO marketing efforts when it comes to improving the performance of your website in search results. Here are some examples:

• Organic traffic. This refers to the number of people visiting your website through search engines without any costs incurred on your part.
• Click-through rate (CTR). CTR is the percentage of users who click on your website’s link in search results. It’s computed by the following formula: clicks ÷ impressions.
• Keyword rankings. This refers to the position of your website in search engines for a particular keyword or phrase.
• Backlinks. Backlinks are links from one website to another. When another website links to your business website, search engines view it as a sign of trustworthiness, leading to higher rankings.
• Bounce rate. Backlinko defines bounce rate as “the percentage of visitors that leave a webpage without taking an action.” A high bounce rate may indicate that your web content isn’t interesting or relevant enough since it fails to encourage your web visitors to stay longer and take action.

SEO metrics encompass a wide range of factors. While the abovementioned metrics are crucial, it’s important to recognize that there are other significant metrics to consider based on your SEO goals.

Other KPI-related metrics

There are other important KPI-related metrics to help measure the success of your digital marketing strategies, such as cost per acquisition (CPA), customer lifetime value (CLV), return on ad spend (ROAS), net promoter score (NPS), email metrics, and more.

While there are tons of digital marketing metrics out there, it doesn’t mean that you have to measure them all. If you’re confused about which data in digital marketing you need to analyze, Eight Media can help.

Overwhelmed with digital marketing analytics?

Analyzing data in digital marketing can often feel overwhelming due to the abundance of numbers, graphs, and technical terminologies. But by partnering with Eight Media, we can provide the expertise you need to help you make sense of this information and gain valuable insights. Digital marketing in the Philippines is our expertise, and we can help you analyze and interpret the data of your business website and social media platforms. So if you’re looking for a third-party provider that offers proven marketing tips for small business owners, contact us today for a free consultation!