I've been preparing to give a lecture on campaign effectiveness in digital marketing and, upon reflection, this measurement isn't so clear cut. It's a difficult concept to apply a "one-size fits all" solution to. And you think it should be easy as the benefit of digital marketing is the fact that so many actions are measurable through data, lots of data.
The issue is that the types of businesses using digital marketing vary so widely and their goals differ greatly. Plus, they are all in a different stage of embracing digital marketing.
Let's take the first point, varying goals for businesses.
Some want consumers to buy, some want leads, some want businesses to download a document or just to inform an audience.
So, the concept of "cost-per-acquisition" (CPA) isn't a sure fire measurement for everyone. What are you trying to accomplish through your online campaign? Define that clearly and the metrics should be based on this goal.
Businesses are at different stages of embracing digital marketing. Again, this makes it difficult to apply a broad brush to online campaigns. For companies that are just starting to get their stride in online marketing, make sure you don't bite off more than you can chew and limit the sophistication of what you are trying to measure and achieve.
But also have a plan for developing your sophistication online, shame on you if you are in the same spot a year from now as the online world moves in nanoseconds.
One common denominator for all these businesses is unique visitors and time spent on particular pages on a website.
I suggest including traffic building goals and conversion or interaction goals as two necessary metrics and add additional metrics that are based on your business offering and your business' online sophistication.
Make sure you are very clear with the other metrics that will define the success of a campaign. The metrics should support the strategic goal of the campaign. And, most importantly, make sure you get agreement and buy-in from business stakeholders about the metrics used to measure the campaign's effectiveness.
Greta Paa-Kerner (@gretapk) is a guest lecturer on digital and affiliate marketing at the IDM as well as an independent marketing consultant through Ganduxer Consulting.
If you would like to find out more about measuring the effectiveness of your campaigns, then feel to check out our Google Analytics: The Complete Guide course. Helping you make the most of your data to create effective campaigns.