Success Factors in Online Marketing #4 – How to Interpret and Use KPI´s Correctly
User-centric data, which converge in marketing suites, promise holistic tracking across the entire customer journey in order to pick up the customer in an even more targeted manner and to place measures even more precisely so that wastage is minimized and profits maximized (keyword performance marketing). Such analysis tools can be quickly installed with the necessary money so that key figures and KPIs can be quickly measured in online marketing. The first hurdles can usually be seen in the interpretation and use of the data. In order to get to the bottom of these hurdles and to provide solutions to the problems mentioned, the following sections will shed more light on the fields of web and marketing controlling:
Choosing the Right Key Figures (KPIs)
Many of the key figures offered do not exist because they have a certain significance or were designed for a specific need, but because it is simply technically possible to collect them. It is therefore extremely important to look at the significance of individual KPIs and to compare them with the goals set.
Don’t Ignore the Context
Without considering the interdependencies of individual figures, no meaningful decisions can be made. All factors directly related to the digital offerings must always be observed and interpreted collectively. For example, if there is an enormously high bounce rate on certain pages, the traffic sources should first be analyzed before OnPage optimizations are initiated. If the majority of visitors come via affiliate campaigns or a banner placement, for example, the high bounce rate is no cause for concern, because these marketing measures mainly bring high traffic instead of high quality in the form of qualified leads.
Steering instead of just observing
Once the most important KPIs have been identified, the right conclusions and measures must also be drawn. Without sufficient resources and the willingness to take corrective action, however, any controlling tool is pointless. When interpreting the data and deriving the appropriate measures, know-how, sensitivity, and patience are required above all. Very few measures achieve immediate success, even if real-time tracking encourages permanent and direct measurement of success. The effects of SEO measures, for example, usually only become visible months later and in order to optimize SEA campaigns, an initial data basis must first be generated before the first optimizations and fine adjustments can be made. However, anyone who shows perseverance and works unswervingly on the corresponding optimisation measures will sooner or later be able to measure the corresponding sustainable success.
Successful online marketing is a permanent business. Basically, it is important to focus on your core marketing mix, to gradually build up know-how and experience and not to lose sight of the actual goal among the masses of possibilities and trends. The principle at all times:”think big start small”.