As more consumers are taking to the internet for their shopping and social media needs, many companies are starting to initiate internet marketing campaigns and digital advertisements to gain this traction and support. Because this form of marketing is so new, it can be hard to judge just how effective it is. But, with the use of analytical data and custom database software, companies can gain clarity into these advertising campaigns.
According to Entrepreneur Magazine, there are a few key statistics that marketing and advertising companies should keep track of that can help them understand just how effective their campaigns are.
One of the most easily understood ways to track how well a campaign is going is by viewing a company's conversion rates. A conversion is when a website viewer converts into a customer, most often through a purchase. Tracking conversions can be done quite easily with analytics software, which can help companies see how many conversions they receive on a monthly, weekly and even daily basis.
In addition, overall engagement is something that should also monitored with database software, as it shows whether the advertisements are actually creating an impact – a reaction – with the audience. Companies can use a custom database to crunch analytical numbers, such as how many Facebook likes a post may get and at what time.