How Can Digital Marketing Measurement Platforms Help Your Business?
One of the biggest challenges budding marketers face is finding ways to track and measure their success through digital marketing measurement.
Whether you’re keeping track of marketing for your own businesses, or your client’s, you need to be able to see where you’re making gains, and where you should scale back.
Let’s face it! There’s just no substitute for crunching real data.
And, if you’re not already using digital marketing measuring platforms, you’re missing a trick. You can automate much of the legwork involved in campaign measurement and analysis, leaving you free to focus on building your operations and boosting that crucial bottom line.
So, how can you use digital marketing measuring platforms to your advantage? Read on to find out.
Measuring digital marketing success
Before the rise of SaaS (Software as a Service) marketers used in-house systems or judged the success of their campaigns on their Return on Investment (ROI). But, as digital marketing grew in popularity and became ever more complicated, the list of metrics marketers needed to track grew and grew.
There are a lot of metrics to look out for. Here are just a few:
Social media engagement – The number of likes, comments, or shares your social media posts have.
Social media reach – How many people view your posts on social media.
Web traffic – The number of people visiting your website.
Bounce rate – The percentage of people who leave your website after only viewing one page.
Website engagement – How long users stay on your website and how they interact with your content.
Conversion rate – The percentage of people who make a purchase, subscribe or complete another goal-focused action after visiting your website.
User journey – How a visitor interacts with your website from landing to leaving.
Cost Per Click – The average price you pay for each click to your website from paid advertising.
Cost Per Conversion – The total amount of money you spent on a paid advertising campaign divided by the number of purchases directly resulting from it.
ROAS – Your return on the total amount of money spent on paid ads.
The good news is that it’s easy to track everything in digital. All you need is the right tools.
In-built analytics or digital marketing measurement platform?
When you build your website, whether you’re using a website builder or having one custom made, make sure it’s connected to Google Analytics.
Google Analytics is a great free tool for anyone starting out, but if you want to go deeper to understand your campaign return on investment, then it’s well worth investing in a paid tool like Veracity.
Veracity is a digital campaign analytics platform that delivers actionable insights into the effectiveness of your campaigns as a whole, as well as digging into the results of each marketing channel and individual links.
These platforms are generally run on a SaaS model and are usually paid, whereas Veracity provides marketing insights and the team are available to offer support to help you make the most of your marketing data. They offer a range of user-friendly tools and extended metric-tracking options that free tools like Google Analytics don’t.
If you have the money to invest, choosing a digital marketing platform can increase your revenue over the long term. For pure digital marketing insights Veracity can answer a lot of your questions relating to tracking and measuring campaign effectiveness.
Veracity gives you an overview of all your digital marketing activities with top-level ROI and marketing result reporting – instantly see what is working, and why.
By providing transparent access to campaign metrics, it allows accurate real-time reporting with actionable insights, which means you can amend campaigns to take advantage of trends or tweak to remove poorly performing channels.
Why using a digital marketing measurement platform helps
Here are four of the main ways…
1 By identifying high-ROI approaches
By measuring your ROI, you can see which areas of your marketing campaign are performing best and replicate the most profitable approaches.
By using link-tracking software (think Facebook Pixel or Veracity’s Short URL tracker), you can see exactly where your most engaged traffic and conversions are coming from. This lets you analyse your customer journey and gain insights into the behaviour of those who are likely to purchase from you.
2 By detecting click fraud
You’re getting lots of clicks, but no conversions… what gives?
Well, you could be falling victim to click fraud.
You’ll also be able to see where your genuine traffic is coming from and optimise for these avenues throughout your current and future campaigns.
3 By providing social media analytics
Using a digital marketing measurement platform can give you important insights into your social media campaigns.
Of course, you can see your shares and likes in Google Analytics, but if you want to go deeper, then it’s worth using a specialist tool.
Specialist platforms show you exactly how each social media post is converting so you can optimise your approach by platform.
4 By optimising your PPC campaigns
By analysing PPC campaigns, you can see which paid campaigns are bringing in the most money. Some sophisticated platforms even identify trends in these campaigns that you might struggle to see for yourself, like the number of words that gets the right response, the CTAs you’re using and more.
With these additional insights, you’ll be able to hone your approach to PPC and generate a better ROAS over the long-term.
Measuring the success of your digital marketing campaign using digital marketing platforms will save you both money and time.
Once you see which areas of your campaign are delivering the best results, you can optimise your strategy to ensure you come out on top. Using insights from your data, you can plan and allocate budgets for future campaigns and streamline the entire process in the future.