Inbound marketing metrics to measure campaign success
Inbound marketing is a powerful method for generating leads and growing businesses because it’s driven by data. A website forms the nucleus of an inbound marketing strategy and acts as a tool for collecting and analysing the data that goes into moulding it and measuring its success. This ability to measure how a strategy is performing in real time, and adjust it accordingly, means that huge cost savings can be achieved – a strategy can be changed immediately if it’s not delivering the desired results, instead of six months down the line. However, to achieve this, you need to use the right metrics.
Needless to say, revenue is the overriding metric that gauges the success of any inbound marketing campaign – but how do you break down the constituent parts of your strategy to determine whether you’re on the right track to achieving revenue growth?
Monitor where your growth in web traffic is coming from
More web traffic won’t automatically translate into more revenue, but it’s a good indicator of whether activities such as keyword strategy, SEO, social media, paid search or email campaigns are working. And because your website functions as a way of attracting and converting leads into customers, it’s important to generate web traffic to entice leads into your buying funnel. Track and analyse which of the above channels your website visitors are coming from, what keywords draw them in, which web page they visit first and how long they stay on the site (which reflects reader engagement levels). If you’re not generating enough web traffic from your keyword strategy, for example, you can change it. Thanks to cookies, it’s possible to track the actions of each unique site visitor.
How many of your website visitors become leads?
Increased website traffic is all well and good (it shows that your SEO or paid search is functioning well), but conversion rates paint a clearer picture of whether that increase in web traffic is trickling down to impact revenue. The visitor to lead ratio analyses the number of unique website visitors compared to how many become leads – those who sign up for a newsletter, download a guide or request a quote (i.e., any action that prompts them to share their contact details). If your visitor to lead ratio is low, it might mean you need to spruce up your calls to action and landing pages or create more relevant content for your personas.
Are your leads converting into customers?
The next conversion ratio is the lead to customer ratio, which measures how many of your leads become customers, and has a direct impact on revenue growth. You might think that if your visitor to lead ratio is high, your lead to customer ratio will also be high, but that isn’t the case. The latter ratio depends on how successfully you’re able to coax leads down the sales funnel through lead nurturing. If your lead to customer ratio is low while visitor to lead ratio is high, your lead nurturing process might need adjusting.
Examine what type of content generates the highest traffic and conversion rates
If data is the fuel, then content is the wheels on the inbound marketing chassis – which means you need to measure how the components of your content strategy impact web traffic, lead conversion and revenue. Thanks to marketing automation software like HubSpot, it’s possible to monitor the traffic associated with every content offer through landing pages and tracking codes, so you know exactly which created the most leads, and which of those leads generated revenue. You can also measure which blog topics generate the most traffic, and which bring about the highest lead to customer conversion rates. If you know that blogs and guides about cloud servers generate the most web traffic and lead to customer conversions, you can produce more content around this topic and see whether conversion rates are driven up further.
There are countless inbound marketing metrics that can be applied to measure whether your strategy is headed for success. By using HubSpot, and with the help of an inbound marketing agency, it’s possible to take account for every step of the inbound process. To find out how inbound marketing can grow your business, download the guide: