Key performance indicators (KPIs)
They determine the performance of a business over time, which helps determine if goals are being met and measure progress. For instance, monthly sales growth, number of new leads, and resources spent on a paying client. KPIs enable a business to evaluate its performance and improve decision-making on the appropriate digital marketing strategy.
Net promoter score
It measures customers’ base willingness to recommend or promote a company’s services and products to colleagues and friends. For example, a customer-rated a movie 10/10 and recommended it to others. It enables a business to evaluate the quality of its customer services in comparison to competitors.
Cost per click (CPR)
This metric monitors the cost a business undergoes to drive conversions for clicks. For instance, gauging how many clicks were on a website after investing $1000. CPR is effective in evaluating the cost a company incurs in digital marketing campaigns.
Click-through rate (CTR)
This measures the rate at which search engine listings generate clicks compared to the number of times the listing appears in search results. For example, the impressions of a website could be 10,000,000 with about 2,000,000 clicks. CTR helps companies understand customers and determine the target audience for adverts.
Cost per impression
This metric measures the one pays when an ad is shown per 1000 impressions. For example, a company can determine the charges after 10,000 impressions. They help influencers or marketers prove their worth in digital campaigns.
Return on investment (ROI)
This is the ability of a marketing campaign to generate new revenue. For instance, the sales increased to over $5000 from a marketing campaign worth $1500. ROI forms the foundation for digital marketing because it informs businesses if they are getting value for money.