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KPIs are the most essential facts and figures that are measurable and so pretty hard to ignore in the first place when you want to know the performance of your website.
How would you know if your website is performance-driven as you ask your SEO expert in Kolkata while tracking the performance of your website?
Now KPIs are essential for any business organization regardless of its size since it provides context to goals and place accountability on the team to achieve these goals.
So, without further ado, since every business in the present times must use digital marketing to expand their reach, let us get started with the important KPIs for three different businesses:
If you are not sure how to measure the performance of your small businesses’ website, here are three critical KPIs to provide you with a true and clear picture of your digital marketing campaigns:
You have hired the best digital marketing agency in Kolkata, but have you asked them what is the cost of earning a new customer?
Now, this is an extremely important question, as CPA is an important SEO metric that can help any business to understand the actual cost of acquiring a new customer which can be acquired through each lead and click, rather than looking at the conversions and total customers.
CPA is a metric that you can extend to benchmark whether an email initiative, Facebook campaign, or a whitepaper uploaded was worth its time and investment.
Understanding CPA can not only help businesses to better plan their marketing efforts but also avoid wasteful expenditures or leave money on the table.
CPA is calculated by dividing the total cost of conversions by the total number of conversions.
Another picture of your cost-benefiting equation that SEO can provide is your brand’s Customer Lifetime Value, which may indicate what your company can expect from an average customer in terms of revenue.
Using CLTV you can easily find the exact revenue that each customer might bring to your business.
In a broader sense, CLTV is a metric that can help understand the ROI of your marketing efforts and how effective your organization is at retaining customers.
Knowing CLTV helps businesses to better allocate their resources for finding sustainable growth.
CLTV is calculated by finding the average purchase value and thereafter multiplying that number by the average number of purchases to determine customer value.
When we do digital marketing, all of us want to see results quickly. Hence, the third essential KPI is measuring the time it takes for your business to see positive results after you have invested in hiring the best SEO company in Kolkata.
Now it must be understood that if you plan to go for inbound marketing, you might not witness immediate results, so remember successful digital marketing strategies take time.
However, if you are tempted to see more immediate results you can invest in PPC campaigns for your business.
Apart from the above-stated KPIs if you are an owner of a medium-sized business here are some more KPIs that you must monitor for optimal evaluation of your SEO endeavors to find an effective picture of your digital marketing campaigns.
The CTR of your business website represents the relevance and creative nature of your content. It is a metric that affects your brand’s customer acquisition rate and so an increase in CTR would automatically lower the rate of CPC.
Any business that wants to increase its online ROI must know its CTR since it provides a clear idea of what to show in the first place. For example, a catchy subject line for your email campaigns or banner ads and affiliated deals can bring a massive improvement in your CTR.
Have you ever inquired about the distribution of page depth of your website from your SEO expert in Kolkata?
This metric is important since the distribution of page depth represents the percentage of visitors who browse more than just the home page of your website.
Viewing this metric in detail can provide a lens for finding the way your content is consumed and help categorize visits into flirts, browsers, abandoners, and loyalists.
Additionally, if you are running a content-only website, visiting more pages signifies more impressions that can influence conversion and sales.
Finally, there can be a plethora of KPIs for e-commerce websites. However, tracking the right ones absolutely depends on the specific need of your business. Therefore, check out these website performance metrics which are the basic things that you need to consider for measuring the performance of all e-commerce business websites.
It is a common truth that knowing your buyer persona would help you improve the performance of your brand and lure more visitors into the sales funnel.
Hence a high conversion rate is imperative that you are convincing your audience at large.
Nevertheless, here are a few questions we would advise you to ask yourself while increasing your conversion rate:
What are the easy ways to quicker conversion?
What is the average conversion rate in my industry?
Are pricey products the reason for my low conversion rate?
How happy are my customers buying from the website?
After you find answers to these questions you can further improve the path of purchase and thereby further boost the conversion rate.
This refers to the percentage of your online shoppers who added items to their shopping carts but never actually purchased.
Now even though this has nothing much to do with your e-commerce website’s SEO, nevertheless as shoppers tend to abandon their cart due to excessive cost of shipping, cost of the product, or even user errors in the website or complicated checkout requirements processes. So if you measure this metric and resolve these issues it might work on reducing customer churn in the long run.
Bounce rate indicates the percentage of visitors who leave your e-commerce website after arriving from a referral source.
A high bounce rate may indicate the presence of irrelevant content on your website or the use of unrelated keywords. Therefore, consider using longtail keywords in your SEO strategy to reduce the bounce.
CPC is the amount that a business pays to convert visitors to a buyer. Measuring this metric helps to better understand what to pay for your online ads, price your products, and how to market your commodities and services online.
For example, if you run a PPC ad that pays 10 cents per click, and on average your business needs 20 clicks before conversion. Your CPC averages $2.00. This implies your business only earns a profit if the purchase is beyond $ 2.00.
Hence CPC is an important metric that you need to consider to make real profits once you set up an ad campaign and want to make a profit out of it for your business.
Even though it is difficult to track the performance of any website, nevertheless checking and measuring these above-stated KPIs might help to monitor your website’s performance effectively and thereby optimize your website and set up realistic business goals.
Hope you found this article helpful. For more updates, you can contact us to avail the most experienced SEO expert in Kolkata.March 21, 2022