Marketing Metrics that Matter for SMBs
If you’re a small to medium-sized business (SMB) trying to reach more customers and stand out from competitors online, you’ll want to pay attention to digital marketing metrics, such as:
- Hot zones
- Web traffic
- Conversion rate
- Email subscribers
The number of calls you receive is one of the most apparent indicators of how well you’re getting the word out about your business. Audit how many calls you receive per week and set a goal to increase the average. Make sure your website, social media pages, and local business listings are complete with an updated phone number so customers can easily reach you.
Hot zones help you understand how people interact with your business profile by showing where people interact with your listing the most. You can use local listing directory analytics like Google Business Profile Insights to monitor trackable online data and identify these hot zones. If analytics indicate your phone number is one of the hot zones, your customers may prefer to go right to the source for quick information. If, however, one of your hot zones is a website link, they may prefer to learn more about your products or services by browsing your business website.
Google Analytics can help you track the web traffic your business receives. Data like click-through rates, conversion rates, time spent on site, and more can help you see what parts of your website potential customers interact with in meaningful ways. This allows you to make adjustments that make navigating and using your site easier for customers. For instance, if you notice people spend a lot of time on a webpage featuring a particular product, you can optimize and organize your website so that it’s easier for site visitors to find that product.
Looking at conversion rates can help you improve weak spots in your digital marketing strategy, particularly with your website. If you notice that people are spending time on a product or service webpage but aren’t converting, you may need to look at what you offer compared to the competition. Then, try to optimize that page to lead people to the point of sale or contact and influence purchasing decisions to turn interactions into conversions.
Tracking your email subscription numbers is another way to gauge how many customers want to hear from your business. Take note of how people interact with your emails to ensure you are getting the most out of your email marketing campaign. Watch average open rates, click-through and conversion rates, and soft and hard bounce rates. And, of course, be sure to monitor your return on investment (ROI), as well as how many people subscribe to and unsubscribe from your emails.
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