Wednesday, 3 February 2021

Definition and Types Of KPIS: Digital Marketing Indicators

 

Identifying the types of KPIs and digital marketing indicators that our business needs is a key aspect to take into account to monitor current and future actions in the company, but most of the time we have so much data in sight that we we overwhelm and there is what we call an excess of information.

That is why the Data Studio tool is so essential to dump the data that we consider most important and to be able to interact with it, since it allows us to visualize the data in a clearer way and, in addition, to order it in our opinion.

This tool, launched by Google, allows you to easily link data from Google Sheets, Google Analytics, Google Ads, Google Big Query, and other products.

To be able to control your online business you have to know what the main objectives to achieve are, for this we use the famous KPIs. But… what is a KPI?

Definition of KPI in marketing

Well, a KPI as its acronym indicates is a Key Performance Indicator , which is translated in Spanish as key performance indicators.

We define a KPI as a measurable and quantifiable metric that determines a variable, such as: income, expenses, sessions, etc.

You have to define the KPIs in a company to have different objectives in the short, medium or long term, and maintain a line of action with the established deadlines. Thanks to the monitoring of the different types of KPIs we will be able to know the repercussion of the actions we carry out for our target audience.

Now that we have defined what a KPI is, we must choose those that best fit our business, to help us analyze the data that interests us most according to our needs.

Each business has its own objectives to achieve, a website that offers products to another is not the same as what it offers is services or a website that is defined as a blog.

In this post we are going to analyze a dashboard of a business that offers its services. We will also explain the metrics that we will use and how to compare them to get relevant data.

We started!

How to make a strategic Dashboard? Definition and example.

In this example Dashboard we will think as if our business were a veterinary clinic, the objectives set are:

·         That users fill out the contact form.

·         That users request an appointment at the veterinary clinic.

·         Traffic to the web.

This is how a general dashboard for this type of business would look:

What these Google Analytics metrics mean

Next, we are going to explain the Google Analytics metrics that appear in the previous Dashboard, which we can say is divided into 3 columns and 3 rows.

Users and sessions

The first row contains different digital marketing indicators grouped by groups, the first group contains sessions, users and new users.

With the sessions we will know the volume of traffic that our website has registered in the marked period, if we look closely, each metric contains a comparison of that same metric with the previous period, that is, if we are looking at data from this month in Data Studio, we would compare them with the previous month and we would have to do the same if we look at a period of 2 or 3 months and even a year.

Next we have the user and new user metrics. A new user is the one from which Analytics has no more visits (due to cookies) and the recurring user is the one from which previous visits have been registered.

Keep in mind that it is impossible to detect users well since they can delete cookies or access from different devices.

Session duration, pages per session, and bounce rate

In the Site Health part, we analyze the digital marketing indicators such as the average duration of the session and pages / session that allow us to know if the user has navigated beyond the page through which he has entered the web and the level depth of navigation.

It must be taken into account that if the user enters and leaves without making any interaction with the web, Google Analytics will count that user with a bounce rate of 100%.

Objectives met

In the Goal Conversions part, we will add our own KPIs. Here we will see the number of objectives met in a general way, for this reason the table below has been created in which at a single glance we can see which channel is the one that works best, that is, the one that has registered the highest number of objectives met.

Sessions vs sessions of the previous year

On the left side we find a time series graph in which two lines appear. The darkest line shows the sessions that are being generated this year and the clearest is the comparison of the same with last year.

Pages with more sessions

We know the volume of traffic that we generate to our site, but what is it that interests our audience the most? What are the most interesting pages?

Thanks to the table of pages and sessions, we can answer these questions, so we can detect which pages are failing and do an analysis of them to get more traffic to them, such as generating content more regularly or even changing the aesthetics of it.

We hope we have clarified all your doubts regarding KPIs and scorecards, but if you want to investigate a little more, we advise you to take a look at this post on how to design a balanced scorecard in real time .

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