Are you having difficulty understanding what marketing data you should be looking at to help determine your strategy for 2024? If so, we’re here to help!
Analyzing the marketing data from your campaigns helps determine whether they are delivering the desired outcomes. Then, you can develop and optimize campaigns based on the results.
Marketing data helps track and measure campaign performance. These insights support effective decision-making and budget management to maximize conversions.
Your marketing data should match your goals to maximize the impact on your campaign’s success. This data helps you make informed decisions and modify your actions as needed.
Use these sources to determine what marketing data to look at to help determine your strategy for 2024.
Marketing channel traffic
Determine where your users were before visiting your website. Then, use this insight to guide your strategy to acquire more traffic. For instance, if a large number of visitors come from organic search and a small number from paid search, consider adjusting your ad budget to search engine optimization (SEO).
The most common traffic sources to track include:
- Direct visitors who typed in the universal resource locator (URL) to access your website.
- Organic visitors who used a search engine tool to visit your website.
- Social media visitors who went to your site from a social media
- Referrals who clicked a link to visit your page.
- Paid visitors who found your content through an ad.
- Visitors who found your website through a newsletter, nurture flow, campaign, or other email marketing.
Conversion rates
A conversion rate shows the percentage of website visitors who complete a form, sign up for a service, purchase a product, or complete another desired action. Tracking conversion rates helps show your success at attracting leads or customers, uncovering profitable channels, and troubleshooting issues with your sales funnel.
Engagement rate
Engagement rate shows how actively involved your audience is with your content. The engagement level determines whether you are reaching the right audience with the right message.
A strong engagement rate increases brand awareness, customer loyalty, and revenue. Therefore, you should create more content that resonates with your audience.
New and returning visitors
New visitors came to your website for the first time on a certain device. Returning visitors came back to your site on the same device within 2 years of a previous visit.
Comparing your number of new and returning visitors helps measure the effectiveness of your content. However, because returning visitors are counted as new visitors if their previous visit was on a different device or browser more than 2 years ago, they used private browsing, or they blocked cookies, these numbers might not be exact.
Return on investment
Your return on investment (ROI) determines the profitability of a campaign compared to its cost. You can calculate your ROI by dividing your return on the campaign by the cost of the campaign and multiplying the answer by 100.
The profitability of a campaign helps determine whether you should run similar campaigns in the future. You can use this information to reevaluate your strategies, targeting, ad creatives, and keywords for increased success.
Do you need help to create your 2024 marketing strategy?
Contact BARQAR to work with a team of MBAs, seasoned marketing consultants, SEO and social media specialists, designers, writers, and web developers to execute your marketing plan for the year. Reach out today to get started!
