We have entered the age of “big data.” Some big companies, like Google, Amazon, and Facebook, are using big data to make big money. But in any industry, at any level, virtually every business that has a website collects data about their website visitors and can play the big data game, too. That is, if they have the ability to analyze that data and know how to effectively apply that analysis to their marketing strategy.
Website analytics software, like HubSpot and Google Analytics, collects information on nearly every aspect of your visitor’s activity. This data is captured both behind the scenes, like a visitor’s browser, IP address, or search activity, and as information that they provide to you by filling out forms on your website.
Inbound marketing uses this data to help you sort out visitors that show interest so that you can further qualify them from those that are just browsing. At Cain & Company, our marketing experts are trained on the inbound marketing software and best practices that will help you know which data is important and how to use it effectively to boost your marketing investment to higher levels with every campaign you launch.
3 Important Marketing Metrics to Watch
Begin by understanding the metrics you’ll need to gauge the effectiveness of your landing pages. These include:
Call-to-Action (CTA) Click-through Rate: The percentage of visitors who visit your landing page by responding to your call-to-action.
While the dream of your inbound marketing campaign may be for 100 percent of your new customers to visit your website via an organic search engine result, the reality is even the search engine giants need call-to-action marketing to entice people to visit their websites.
So, before you look at how well your landing pages convert website visitors into leads and, ultimately, customers, it’s important to see how effective the call-to-action is that gets them to your landing page in the first place. Do your CTAs drive enough traffic to your site? And do those site visitors stick around long enough to take the next step?
You can optimize the effectiveness of your CTAs by monitoring their performance and isolating the elements that comprise the CTA, like the text, graphic, or button. Then modify them one-by-one until you see improvements.
Visitor-to-Lead Conversion Rate: The percentage of website visitors who fill out a form on your landing page and become leads in your contact database.
Getting visitors to complete your landing page form and move on to the next step is a major accomplishment. But, of course, the end goal is for them to become customers. So, you need to examine your landing page conversion rates – visitor-to-lead, lead-to-customer, and visitor-to-customer – to understand how your landing pages affect your bottom line.
Studies show that companies with more than 40 landing pages get 12 times more leads than those with five or fewer. To understand how well your CTA impacts revenue, compare the click-through rate of your call-to-action against the visitor-to-lead conversion rate for your landing page. If your landing page converts well, consider tweaking your CTA to drive more visitors to it.
Lead-to-Customer Conversion Rate: The percentage of leads that become customers.
Knowing which content topics and types turn site visitors into leads is a good start, but it’s only part of the story. You also need to measure what converts your leads into customers. That’s where closed-loop analytics come into play.
Closed-loop analytics connects your marketing automation software with customer relationship management (CRM) software to give you the complete picture of your inbound marketing customer acquisition process. It provides data about which landing pages converted the most visitors and leads into customers and how much revenue they produced, so you can see which of your marketing activities produce bottom-line results rather than just relying on anecdotal evidence from your sales team. Closed-loop analytics also identifies which web pages were visited along the way to a lead becoming a customer and gives you other insights to further improve the number of leads you generate, raise your conversion rates, and help you sell more.
The sheer deluge of data collected online through inbound marketing can be daunting. By focusing on and continually monitoring important information, Cain & Company can improve your investment in inbound marketing by leveraging “big data” like the big companies.