The Top Marketing Analytics You’re Not Paying Close Enough Attention To!
It’s Internet Marketing Week at WP the Podcast and we have a fantastic guest this week, our good friend Corey Hammond. Corey is the Chief Marketing Officer for A2 Hosting and an all around wealth of knowledge about internet marketing.
- Impressions 03:04
- This would be the total overall traffic, whether you’re running ads or looking at organic traffic.
- Sometimes businesses look over this metric, especially small business owners.
- It’s important to see how much traffic you’re getting, know where it’s coming from, and find out how you can capitalize on that.
- Looking at your impressions can give you a high level overview of your traffic. It will tell you how many of your visitors came from Google vs. Facebook vs. your email list vs. a blog that you didn’t even know was linking to your website!
- CTR (Click Through Rate) 06:21
- The next level of analytics would be to look at how many people are engaging with your content. How many people are clicking on your ad or blog post vs. how many people saw it (impressions)?
- Testing can help improve CTR, especially when you are running an ad campaign. You can test different banners, messaging, or audiences to find what performs the best.
- Conversion Rate 09:24
- After a visitor clicks on your content, do they convert? This could mean that they watched your video, purchased your product, or signed up for your email list.
- How can you make it as simple as possible for the customer to convert? Is your checkout process streamlined, or does it take the customer through 9 pages before the sale actually goes through? Each extra step is a chance that your customer will abandon the purchase.
- Average Order Value 13:44
- At the time of purchase, how much is the customer spending with you?
- One way to increase your average order value is to offer up-sells in the checkout process.
- Lifetime Value 15:52
- If someone spends $20 with you today, what is the lifetime value of that customer? How can you increase the value?
- Segment these into one time purchases and recurring services/products.
- Many business owners look at the above metrics in their analytics, but don’t think too much about what happens after the customer makes the sale. By looking at lifetime value, you can determine how to keep your customers longer and how to make them more profitable.
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