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How a Digital Strategy Consultant Measures Success
Your business needs to have a successful digital strategy in order to grow. So while you may have set up your website and carefully planned out social media along with SEO campaigns in order to accomplish this, it's challenging to know if your digital strategy is working? What tools do you need to measure success?
Digital Strategy Consultants spend every day ensuring the success of these campaigns, which is why we've put together the top ways that a digital strategy consultant measures success.
While creating your digital strategy takes a ton of time, it's even more important to remember to measure your success to ensure your plan is working. Without quantifiable results, it's hard to determine which parts of your strategy need to be improved and to ensure you're finding the success you need.
Traffic By Source
While understanding your overall traffic is important, knowing the specific sources sending you this traffic is also essential. This not only allows you to see which of your marketing efforts are worth continuing but also shows you where potential customers are coming from that aren't the results of your marketing campaign.
These could be customers finding you on their own, after they've read a review or watched a video. You'll never know how they found you unless you keep track of your traffic in this way.
The Average Session Length
One of the most important indications that your digital strategy is working is whether customers are engaging with it. The best way to measure this engagement is by looking at their average session length.
The average session length for most companies is between 2-3 minutes, which is a good benchmark to compare your metrics with. In addition, the average session length is helpful for understanding what content people are actually interested in so you know exactly how long they're spending on your website, which pages they're sticking to, and how often they're scrolling.
The average session length is important to know, but how your content actually converts is even more telling to your business success. The conversion rate refers to how many visitors to your website are taking the action you're hoping they will take, whether that's signing up for your newsletter or purchasing a product.
This rate is critical because it determines how successful your business is when it comes to gaining new customers or increasing revenue. If you notice a lower than average conversion rate, you'll want to re-evaluate how you communicate with your customers online or the approach you're using.
The Number of Page Views
One of the most effective ways to understand how engaged your customers are with your website is by looking at the number of page views. This can help you understand the natural progression of a person's session on your website, from what they're interested in to where they visit before they leave.
If your page rates are meager, this rate can help you to understand if there may be broken links or issues with your digital strategy that are hindering people from finding the content they're looking for.
The exit rate refers to the percentage of customers that leave your website without visiting any other pages. It's essential to know your exit rate because it illustrates where customers choose to leave your site. This can help you identify where they stop becoming interested in your services or where you're failing to communicate your message.
By knowing this, you can adjust your digital strategy accordingly to ensure that they'll be more likely to convert the next time someone visits your site. For example, re-evaluate your marketing funnel to see how you're guiding your visitors, or maybe change the content on the page or offer a more exciting product.
Your social reach includes both the number of people that are engaging with you on social media as well as how many customers are seeing your posts in their newsfeeds.
This information enables you to adjust the types of posts you put on social media or to begin posting more often if it's undershooting your expectations. You should also look at the number of people seeing each post so you'll have an idea of what content is working best for your page.
Cost Per Acquisition
The cost per acquisition is an extremely critical number because it gives you a sense of how much each customer costs. This should be compared to the lifetime value a customer provides to a business so you have a context for how much your digital strategy should be paying off.
If your cost per acquisition is too high, you'll need to make a change in how you obtain business to try to lower this number. For example, if you find the cost of advertising your product is more than what they're worth, it might be time to re-evaluate your digital strategy so that you can connect with customers for less.
How To Improve Your Digital Strategy Today
If you're struggling to improve your digital strategy in any of these areas, it may be time to consider reaching out to a digital strategy consultant. Digital strategy consultants are experts in understanding how technology is used and can use that information to help you better utilize your website or digital marketing efforts. This is an excellent option for companies who don't have time to invest in a full-time digital marketing team or a company that is struggling to understand where they should start when it comes to improving their digital strategy.