5 KPIs (Key Performance Indicators) Small Brands Must Know for Digital Success
Key Performance Indicators, or KPIs, are an important part of measuring the successes and failures of a business. A KPI measures the goals of the business against the actual, quantifiable data over a specified period. While key indicators can differ for multiple businesses, there are several that are common to business whether B2B or B2C. Here are 5 KPI’s your brand must know for digital success.
Traffic: Website traffic refers to the amount of web users who go to a website which is measured in visits, sometimes called "sessions." You can dive deep and see where your traffic is coming from and how they navigate through your site. It is important to know how your visitors are using your site so you can make their experience better and turn them into paying customers.
CTR (Click through rate): Click-through rate is the ratio of users who click on a specific link to the number of total users who view a page, email, or advertisement. It is commonly used to measure the success of an online advertising campaign for a particular website as well as the effectiveness of email campaigns.
A Conversion Rate is defined as the number of visitors to a website that complete a desired goal (a conversion) out of the total number of visitors. It is important because it allows you to lower your customer acquisition costs by getting more value from the visitors and users you already have. By optimizing your conversion rate, you can increase revenue per visitor, acquire more customers, and grow your business
Bounce Rates: Bounce rate represents the percentage of visitors who enter the site and then leave ("bounce") rather than continuing to view other pages within the site.
The implication is that high bounce rates are bad – that the content on your site didn’t match what the visitor was looking for so they left without viewing another page. It’s probably happened to you – it happens to everyone.
CPC (cost per click): Cost Per Click (CPC) refers to the actual price you pay for each click in your pay-per-click (PPC) marketing campaigns for ads on Google, Bing and social media.
Cost-per click is important because it is the number that is going to determine the financial success of your paid search campaigns, and how much paid ads will cost for you.
We know there is a lot to keep track of so why not let us, the professionals at The Hyacinth Group help you figure it out? Send us an email at info@thehyacinthgroup.com for a consultation and get your business performance going!!