No one doubts the importance of digital marketing as a strategy for increasing sales, gaining customer loyalty and positioning brands in the market. But how do you know if the campaigns put into practice by the company are, in fact, the most appropriate for the business?
Today the growth of possibilities combined with digital marketing has been accompanied by the development of various tools and metrics capable of measuring the performance of these campaigns and this, without a doubt, is good news. But the challenge lies in defining which of these metrics should be taken into account by the company so that the measurement result is as assertive as possible. After all, this is what will direct the strategies of the Marketing departments, directly impacting the return on investment applied.
The appropriate choice and monitoring of indicators known as KPIs (Key Performance Indicators), which help measure a company’s success in achieving its main objectives related to digital campaign performances, have several important and its correct use is essential for analyzing and improving performance in digital environments.
Well-chosen KPIs ensure that attention is focused on the areas most important to the company’s success. They provide a quantitative basis for decisions, reducing reliance on guesswork or intuition, and helping to identify where inefficiencies or performance issues lie. These indicators also allow you to compare performance with that of competitors or industry standards and offer real-time feedback, which allows for quick adjustments to the strategy. In short, by focusing on the correct KPIs, companies can allocate resources more effectively, investing in areas that offer greater returns.
The ‘X’ of the issue for a company to have successful digital performance is transforming the enormous amount of data collected into actionable insights capable of improving their online strategies. In this sense, it is interesting to invest in tools such as Google Analytics or Facebook Insights, which help to capture data, integrate all this information and analyze it.
At the same time, to convert this data into insights that are relevant to the business, it is always necessary to take into account filtering according to metrics that are more relevant to the business objectives, such as conversion rate or average ticket. If the campaign objective is to increase sales of a second item in the same purchase, for example, the ideal KPI is the average ticket, as it assesses whether sales have an increased average value or not. If the company is optimizing a campaign to increase the number of leads, using the conversion rate is the most appropriate, as if it increases it shows that the campaign is gaining more people who access the capture page.
To accurately reflect the success of digital initiatives, it is also crucial to optimize the measurement of ROI (Return on Investment), which can be achieved by defining clear and measurable objectives for each campaign (increase in sales, generation of leads, brand recognition, etc.), then establishing specific performance indicators aligned with these objectives. Improving effectiveness in measuring ROI also involves tracking and attributing detailed traffic and conversions, as well as considering the total costs associated with the campaign and analyzing performance over different time periods to identify trends and patterns.
There is no shortage of tools and metrics to help companies understand if they are on the right path when embarking on the digital marketing road. But without well-defined goals established when planning each campaign, the risk of making mistakes when measuring digital performance will be enormous.
*Bruno Cunha Lima is co-founder and Head of Operations at the marketing and performance agency Kipiai
Source: https://www.mundodomarketing.com.br/como-identificar-a-melhor-forma-de-mensurar-seu-desempenho-digital/
