Digital marketing is, of course, something every business should be doing in 2019. But how do you know if your digital marketing is successful? Here are a few key benchmarks to measure the effectiveness of your digital marketing in 2019 and one metric that does not matter as much anymore.
Email marketing is still one of the most useful strategies in any marketer’s toolkit. Marketers continue to see positive ROI from email marketing even though it is one of the oldest forms of digital marketing. There are a few benchmarks to keep in mind when measuring your email marketing program.
Open rate tells you the percentage of people who have opened your email, which reveals the effectiveness of your sender name and subject line. Click-through rate shows the number of people who click through to more content once they have opened your email, and this indicates the strength of your email content. Unsubscribe rate gives the number of people who no longer want to receive emails from you, noting how effective your email marketing has been. You should track these metrics over time to determine how well your email marketing is performing.
In the world of online advertising, click-through rate (CTR) is an important digital marketing benchmark in 2019. You determine CTR by dividing the total number of clicks an ad receives by the total number of impressions and multiplying that number by 100. You get a percentage of the total clicks as it relates to the total number of times an ad was shown. This digital marketing benchmark shows you how effective your advertising is at drawing your audience’s attention. After all, clicks on your ad lead to visits on your website, and visits lead to future customers and revenue.
Another key benchmark in 2019 is the total return on investment (ROI). To calculate ROI, you subtract the total expenses from the total revenue and divide that number by the total expenses. You should see how many dollars you are bringing in for every dollar you are spending on digital marketing. This metric is especially important because it shows how effective overall your digital marketing program has been.
One benchmark that is less important this year is the number of website visitors. Some marketers consider this a vanity metric because it shows a surface level number that does not have a real impact on your overall ROI. You should not ignore website traffic altogether as a metric, but you should look at it in context with other metrics like total ROI and website conversion rates.
Are you looking to measure your digital marketing, or are you starting a digital marketing program? The pros at the Borenstein Group, a Top DC marketing agency, can help. Get in touch with us today to start your digital marketing and benchmarking the right way, right away.