In the digital age, companies must have a strong and effective online presence to succeed. To achieve this, it is essential to establish a solid digital strategy, which includes defining the appropriate KPIs (Key Performance Indicators). KPIs are metrics that measure a company's performance in relation to its objectives and goals. By choosing the right KPIs, companies can measure their success and take the necessary steps to improve their performance.
Next, we present three essential KPIs that every company should consider when establishing its digital strategy. These KPIs are the conversion rate, the cost per acquisition, and the bounce rate. By regularly measuring these KPIs, companies can evaluate their performance and make necessary adjustments to their digital strategy to achieve greater success.
It is increasingly important for companies to have a digital strategy. The problem is that when it comes to measuring results and optimizing it, many organizations encounter difficulties. In this blog, we offer you some basic KPIs for your digital strategy that can help you:
One of the first things usually done in a digital strategy is defining the objectives for the project.
You must define the problem before you start working on a solution. One of the first things you should do when developing your digital strategy is to set objectives.
Be ambitious but realistic with your goals as well. It's not a good idea to set arbitrary numbers just because they sound good; it's better to base them on the actual results of previous campaigns or projects with similar objectives, and then adjust them as necessary based on how things develop over time.
Depending on the product or service, it is necessary to know which KPIs (Key Performance Indicators) will be used to evaluate the progress of the strategy and how they will be measured.
KPIs (Key Performance Indicators) are the metrics that measure the success of your strategy. They must be relevant to your business and measurable, so you can track them.
That's why it's important to define KPIs before starting a digital strategy development process. For example: when developing an e-commerce website, a KPI could be "the number of sales per month" or "the average cart abandonment rate."
In summary, here are three essential KPIs for any digital strategy.
1. Pages viewed
The first KPI is the number of page views. This metric is essential because it is a quick indicator of how many people visit your website and what type of content you should promote on social media.
This analysis can be done in different ways: by segment or by seasonality. For example, if you want to know which products have the most visits during peak season months, you could use this data to raise awareness among potential customers. On the contrary, if a product gets fewer visits during other seasons, it is because it is not the best product to invest in.
2. Clicks in email
The second KPI is email clicks. This is one of the most important indicators for your email marketing campaigns and can tell you how well you are doing in terms of attracting traffic to your website and increasing sales.
The click-through rate (CTR) is the percentage that indicates how many people opened an email compared to the total number of people who received it. You may also see this metric referred to as "click rate" or "open rate," which are essentially the same (although the open rate includes openings where there was no click). The lower this number, the better; ideally, you want a CTR above 2%.
3. Cost per lead
The cost per lead is a useful tool that can help you measure the ROI of your digital strategy. It is an indicator that tells us how much it costs to generate each customer, which helps us determine if our investment in customer acquisition is profitable. To calculate the cost per potential customer, we need to know three things:
- The total cost of acquisition (CPA) of our campaign
- The number of potential customers generated by this campaign.
- The average lifetime value of a customer from this campaign
I hope this list is useful to you when defining the KPIs for your digital strategy. From here, it will be a matter of working on the implementation and monitoring of your objectives. If you want to know more about how to manage your campaigns, don't hesitate to contact us!
