For some, interpreting inbound marketing analytics can feel like deciphering ancient hieroglyphics. You know they mean something but you just aren’t exactly sure what. Knowing how to read these stats and understanding what they mean can have a significant impact on your bottom line and ROI. So here’s some help.
Metrics That Matter
With so many numbers and acronyms out there things can get overwhelming, so let’s look at the metrics that you should really be focusing on and why they are important.
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Traffic: This one is pretty straightforward—you need to know how many people are visiting your site and where they came from (i.e. how they found you). You also want to know how many people are repeat visitors (way to keep ‘em coming back for more!).
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Time on Site is just what it sounds like—how much time visitors spend on your site. You want people to stay once they arrive, not leave right away, which is called bounce back or bounce rate. For example, you don’t want a high traffic rate, but a low time on site number, that means a lot of people are leaving as soon as they get to your site, which is not a good sign.
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Lead Conversion is an important one. It is calculated based on how many people click your CTA button and complete the form or task. Lead conversion is a great way to determine how effective your CTA and landing pages are. It can also illuminate where your leads are coming from, such as your Facebook page or an email. Which brings us to…
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Click-Through Rate: How many people are actually clicking on the links within your marketing email campaign and going to your website? You need to know because that is your click-through rate! It tells you how successful you’re being at targeting the right audience with the right content. That way, you know you’re nurturing correctly. The best ways to increase this rate is to tailor your emails to your audience (list) and use clear, actionable language.
Upping Your Game
Okay, now that you have a better understanding of how to interpret inbound marketing analytics, let’s explore a few other important ones.
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Unsubscribe Rate: Just as baseball pitchers want a low ERA, you want a low unsubscribe rate, since a high rate means a lot of people are unsubscribing from your distribution list. The most common reasons readers leave is because emails are either too frequent or irrelevant so be sure you balance your content and timing to avoid losses.
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Engagement: More than just a diamond ring, this stat measures how well you are actually interacting with your audience, primarily via social media. Even if you have a cool Facebook page or a lot of followers on Twitter, you need people to actually be engaging with you—sharing posts, retweeting messages, posting comments and reviews, and writing recommendations. You must engage and be engaging—social media should not be stagnant; you must go beyond just posting updates.
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Return on Investment (ROI): This acronym is constantly being tossed around and while you may know what it means, make sure you truly understand it. ROI measures the effectiveness of traditional (outbound) marketing as well as inbound marketing. Think of it like this—is how much time you are spending on a particular campaign or project worth the return you are getting? Once you see what is or is not working, you can adjust your marketing efforts accordingly. ROI can yield some surprises, so be open to learning from this metric to maximize the money you spend and make.
So, after reading this you should feel empowered to interpret your inbound marketing analytics! Bookmark this page so you can refer back to when you have questions or need a refresher on what you should be measuring.
Now, take the next step and learn how to truly engage your audience on social media with this free, handy guide to social media marketing!
