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In the business world, it is important to track and evaluate your marketing strategies. Why? It will help you see the big picture and make the necessary adjustments to your strategies. Because in reality, you can’t manage what you can’t measure. As a matter of fact, almost everything is quantifiable when it comes to digital marketing. Because more than any other form of marketing, digital marketing thrives on the use of metrics. So what are the digital marketing metrics you should pay attention to?
Digital Marketing KPIs and Metrics
Before we jump into the different KPIs and metrics that your medical practice should be paying attention to, let’s first define what a KPI is. A KPI, or key performance indicator, is a measurable metric that demonstrates how effectively an organization is at reaching their objectives. In relation to the healthcare industry, medical practices use KPIs to evaluate their success at reaching targets which may include increased brand awareness, enhanced online reputation, or increased revenue. High-level KPIs may be focused on the overall performance of the medical practice while low-level KPIs may be focused on the different departments at your practice.
The right digital marketing KPIs for you may not be the right ones for another organization. Make sure that you research the key performance indicators that are relevant to your industry. Determine which marketing KPIs and metrics will help you meet your objectives. If you haven’t figured out which KPIs to use, here are some metrics you might need to look into:
A key performance indicator is a measurable metric that demonstrates how effectively an organization is at reaching their objectives. Click To Tweet
When it comes to digital marketing, marketers always measure the bounce rate. This metric could be used to analyze the behavior of your target audience on your website and in your email campaigns. In web analytics, the bounce rate focuses on the percentage of how many website visitors view only one page on your website. Specifically, it is the percentage of visits in which a person leaves your website without browsing any further.
In email marketing, bounce rare refers to the percentage of email addresses in your subscriber list that did not receive your message because it was returned by a recipient mail server. And bounced email addresses can be one of the most frustrating aspects of email marketing since your target audience was not able to get the information you wanted them to see. Also, keep in mind that there are two types of email bounces: soft bounce and hard bounce. A hard bounce is a permanent delivery failure, while soft bounces are those emails that are temporarily undelivered.
The bounce rate is important. It is because it measures how effective your marketing efforts are when it comes to reaching your objectives. For website analytics, it helps you determine which areas you need to improve on your website, whether it is your SEO strategies or your website content. Just make sure to optimize your landing pages or top entry pages to give off a good first impression and so that visitors will continuously browse on your site. As for email marketing, this is important because it measures the effectiveness of your email campaign. High bounce rates indicate that there may be issues with the way your list has grown or how it is being managed.
Bounce rate measures how effective your marketing efforts are when it comes to reaching your objectives. Click To Tweet
Visit to Lead Conversion Rate
Potential patients may come across your website when browsing the Internet. This is true especially if they are looking for information that only your medical practice can provide. If you want to measure the percentage of people who visited your site that completed a defined action, then you are measuring the visit-to-lead conversion rate. Whether you are just tracking or assessing the number of visitors that acquired your services or those that simply fill out a contact form for more information, it is important to measure the visit to lead conversion rate as it measures the effectiveness of your website as a marketing tool.
When you’ve figured out which aspects you need to improve on, it will be easier to modify the parts which hinder or impedes your conversion rate. This would help you with generating more leads and sales.
Some marketers today interchangeably use exit rate and bounce rate, but they actually measure different things. Bounce rate measures the percentage of visitors who leave immediately after landing on your website or a specific web page. On the other hand, exit rate measures the number of visitors exiting the landing page after browsing the other pages on your website. But why is it important for medical practices to measure the exit rate?
The greater amount of time a visitor spends on your website, the better Google ranking you’ll start to get. Prominent search engines like Google prefer the user experience more than anything else. A low exit rate suggests that your website provides an enhanced user experience. And the better your rankings are, the more people who will visit your website. And in turn, that will lead to an increase in your website’s traffic.
The greater the amount of time a visitor spends on your website, the better Google ranking you’ll start to get. Click To Tweet
Return on Investment
Your return on investment, or ROI, is the single most important factor that you should measure. It measures the profitability of your digital marketing strategies. If you have a positive ROI, it means that your digital marketing campaigns are effective and are bringing value to your medical practice. However, if you have a negative ROI, it means that there is a serious need for adjustments when it comes to your strategies.
ROI measures the profitability of your digital marketing strategies. Click To Tweet
The Wrap Up
If you regularly monitor these metrics, it will provide you with an accurate status of your digital marketing efforts. Over time, you will be able to determine which strategies work best for your medical practice and why. You will end up with a stable marketing rhythm that will ensure more leads and sales for your medical practice. However, if you find it burdensome to constantly check these metrics, Website4MD can do it for you. We can do a variety of digital marketing services for you, from email marketing and SEO to remarketing advertising and data analytics. If you’re interested in learning more, schedule a meeting with our digital marketing specialists and we’ll get you set up.