How to measure the effect of online promotion? In addition to mastering the promotion skills, we who are engaged in online marketing also need to analyze the promotion effect statistically. Then, what indicators do we use to measure the effect of online promotion?
1. Conversion rate
A potential customer may have to complete several conversions on the website before he can become our true buyer. For example, the longer you stay on our website, the more accurate the customer will be.
Have browsed our website, how many clicked “contact us”, how many clicked “online registration”. How many potential customers register or submit orders online from viewers, how many online consultations, how many telephone consultations, and how many ultimately buy. During the step-by-step conversion of this customer, we have to count him. As long as we do the statistics, we will be able to know how much money we invest today and how much money will be brought to register customers, consult customers, and purchase customers. Where are we? Optimization and promotion.
Conversion refers to the completion of an action expected by a potential customer to promote the merchant.
Conversions can refer to potential customers:
1. Stay on the website for a certain period of time;
2. Viewed specific pages on the website, such as registration page, “contact us” page, etc.;
3. Register or submit an order on the website; (registration rate)
4. Consultation via website message or website online instant messaging tool; (consultation rate)
5. Consultation by telephone; (Telephone consultation rate)
6. Door-to-door visits, consultations, and negotiations;
7. Actual payment and transaction (especially for e-commerce websites) (transaction rate)
Conversion rate refers to the ratio of the number of completed conversion behaviors to the total number of clicks on promotion information in a statistical period. The calculation formula is: conversion rate = (conversions/click volume) × 100%. For example: 10 users saw the results of a certain search promotion, and 5 users clicked on a certain promotion result and were redirected to the target URL. After that, 2 users had subsequent conversion behaviors. Then, the conversion rate of this promotion result is (2/5)×100%=40%.
Average conversion price
Average conversion price refers to the average promotion cost consumed per conversion. The calculation formula is: average conversion price = (promotion cost/conversions) × 100%
2. Click rate
This is also very very important, which refers to the average probability of the promotion information being displayed each time it is displayed per unit of time. The calculation formula is: click rate = (click volume / impression volume) × 100%. Our click-through rate depends on two factors, one is the location of the display, the other is the creativity. If the location is the same, the ad word is the main factor. The more attractive the ad word, the higher the click-through rate.
3. Joint marketing.
So how can co-signing marketing help us to count and promote? This needs to go back to our top question. For example: You advertised on 3 media today, and you brought 20 orders. Do you know how much each of the 3 media brought you? Another example: Your company has 10 employees, and 10 employees promote at the same time Your website resulted in 3 orders today. Do you know which employee promotion these 3 orders are for? Another example: You used 3 free promotion methods this week: forum posting, blog promotion, and email promotion. As a result, there were 5 orders. Do you know which network promotion method your 5 orders came from? I believe that 99% of people are currently unable to count them. At this time, we need a brand-new marketing method, joint marketing. You only need to add every media, every employee, and every method you use to join the joint marketing. Then you can clearly statistically analyze each of your promotion results. This is very similar to the concept of retrieval chain.
4. Return on investment.
The rate of return on investment refers to the ratio of the benefits earned by the promotion merchants to the costs they have paid. For example, the promotion merchant spends 1,000 yuan for search engine promotion and achieves a sales income of 1,500 yuan. The rate of return on investment is equal to (1500-1000)/1000=50%.
Average single visit time
The average single visit time refers to the average conversation time between the visitor and the statistical object in a statistical period. The calculation formula is: average single visit duration = total visit duration/total number of visits
Churn rate refers to the proportion of visitors who churn from the step to the next step for the step corresponding to the specified path. The calculation formula is: the loss rate of this step=[(the number of entries in this step-the number of entries in the next step)/the number of entries in this step]×100%
Conversion goal, also called conversion goal page or goal page, refers to the tasks that merchants want visitors to complete on the website, such as the pages that businesses need to visit, such as registration, order placement, and payment.
As long as we master these things, we can understand our own promotion effects and promote them correctly. Regarding bid optimization indicators, you can also refer to my previous article: Interpretation of key optimization indicators for bidding account optimization