Digital Marketing KPI You Should Ask From Singapore Digital Agencies

kpi for singapore digital marketing agencies

You cannot lack data to monitor. It is not hard for marketers to generate enough data. What is hard is pulling insights from the available data.

To assist you, let’s have a look at the metrics of business conversions that can help you identify the Digital Marketing KPIs to monitor.

  1. Revenue

Revenue is the heart of all businesses. It is the cumulative amount that a company gets. It is your gross income before expenses. Revenue is a mutual thread that links sales and marketing together.

How to monitor:

You can establish e-commerce tracking in your Google Analytics account.

  1. Rate of Conversion

It is the number of visitors to your site who have accomplished the intended goal on your site. A higher conversion rate indicates a successful marketing campaign. A study conducted in Singapore shows that the average conversion rate across all business fields on search networks is about 10%.

The rate of conversion is always connected to conversion rate optimization, CRO, that includes marketing strategies like A/B testing for optimization of web pages.

How to calculate:

You can use this formula to measure the rate of conversion:

The rate of conversion = (total conversions ÷ total visitors) × 100%

  1. Generated Leads

Lead generation occurs when you enchant and transform the potential customers interested in your brand. Generating leads is crucial to the success of your business, but you need to have traffic to generate leads.

How to measure:

It is recommended that you set up goals in your Google Analytics account to track this KPI.

  1. CPA

CPA – cost per acquisition – is the cost incurred to get a new customer. It is the same as the rate of conversion, but it allows you to measure the effect of marketing on revenue directly. Most businesses use

CPA to determine the direction of their digital marketing.

How to calculate

You can use this formula to calculate CPA:

CPA = MCC ÷ CA

Where MCC is the total marketing costs and CA is the total customers acquired.

  1. Average Order Value, AOV

It is the average amount of money spent whenever a client places an order. It is the purchase per order not per client. It is simpler to increase your AOV than the conversion rate because it is easier to convince an existing customer to purchase from you than a new one.

How to calculate

Use this formula to track your AOV:

AOV = revenue ÷ total orders requested

  1. NPS

NPS – Net Promoter Score – is used to measure the loyalty of your customers using one question:

What is the likelihood of you recommending our company given a scale of 0-10?

Depending on the score they give, they are divided into three groups

  • 6 and below: Detractors
  • 7-8: Passives
  • 9-10: Promoters

Various tools can be utilized to measure the NPS score in Singapore including Promoter, Wootric, and Delighted.

How to calculate:

To determine your NPS, use this formula:

NPS = percentage of Promoters – the percentage of Detractors

  1. Reviews

Reviews act as company social proof. There is evidence that people tend to trust other individuals more than brands. In fact, research shows that more than 85% of internet users in Singapore trust customer reviews the same way as personal recommendations.

To track reviews in Singapore, you can utilize tools like ReviewTrackers, BirdEye, BrightLocal, TrustPilot, and YOTPO.

How to calculate:

Every negative review causes a reduction in your revenue. Research shows that increasing your review by one-star increases your revenue by 5%-9%.

You can use this formula to calculate the percentage of lost revenue due to a negative review:

Lost revenue (%) = (5 – star rating from the review) × 0.07

  1. Branded Searches

These are the keywords that contain your brand name or its variation. They are popular because of their superior conversion rates.

How to monitor:

To monitor branded searches, you can utilize Google Search console to measure the branded search impressions. If you have impressions, it means that users are searching for your branded keywords. That can assist you to determine what is working and what is not in your marketing strategy.

You can even run a PPC ad for your branded search terms to get more accurate impressions.

  1. Email Subscribers

The subscribers to your email lists are the livelihood of any business. They are always users who are most engaged with your brand. Increasing the number of subscribers can boost your number of sales.

There are various tools that you can use to track the growth of your email list in Singapore including Drip, Aweber, and MailChimp.

How to monitor:

You can monitor where your subscribers come from by creating form submissions in Google Analytics.

  1. Traffic

The amount of traffic acts as an indicator of your website’s health. You can start tacking the patterns to determine when your site traffic is at its peak.

How to track:

To determine the total website traffic, go to your Google Analytics account and navigate through Acquisition > All Traffic > Channels.

  1. Medial Mentions

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Whether you get a positive or negative review, tracking your media mentions is crucial in maintaining the reputation of your brand. It offers valuable information that can be very beneficial to your business

How to monitor

It is advisable that you track your media mentions on a monthly basis. You can get automated results from tools like SEMrush, BuzzSumo, or MOZ. If your business is smaller and operates on a limited budget, Google Alerts is the best option.

  1. RAOS

RAOS – Return on Ad Spend – offers marketers an idea of the amount of increased revenue they get after running a paid Ad. The general rule for a positive RAOS is that you should get three times the money you spent on creating and running your ad.

How to calculate:

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get google ranking ad

To calculate the percentage RAOS use the following formula:

RAOS (%) = {(Revenue – Cost) ÷ Cost} ×100

  1. Return on Investment, ROI

It is used to prove that campaign strategies have an impact on the outcome of a business. It is also an excellent way of determining how to spend your marketing budget.

How to measure:

You can use this formula to track your ROI:

ROI (%) = {(Gross Profit – Investment on Marketing) ÷ Investment on Marketing} ×100

  1. LTV

LTV stands for lifetime value, and it is the revenue generated by a business from a client.

How to calculate:

You can use this formula to determine the LTV:

Lifetime Value = ARPU ÷ Churn

Where ARPU stands for Average Revenue Per User.

Basically, this KPI measures the amount of income generated within a specific period.

  1. Customer Retention or Loyalty

It means how long a company retains its profitable clients over time. Loyal customers tend to spend more on your business than others, and that is why there are so many loyalty programs in existence.

How to track

Client churn rate is the most excellent method of measuring customer loyalty and retention. If your churn rate is high, there is a more likelihood that your services or products don’t meet the customers’ needs.

You can calculate the churn rate using this formula:

Churn = Lost Quantity ÷ Initial Number of “y”

Author Bio

Tom Koh is widely recognised as a leading SEO consultant in Asia who has worked to transform the online visibility of the leading organisations such as SingTel, Capitaland, Maybank, P&G, WWF, etc. Recently he was instrumental in consulting for a New York-based US$30B fund in an US$4Bn acquisition. Tom is a Computational Science graduate of the National University of Singapore. In his free time he performs pro-bono community work and traveling.
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February 07, 2019

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