Approximately 92% of marketing directors report that social media is an important part of their business. However, up to 88% are unsure how to measure their ROI for social media activities. While there are plenty of metrics to help us gauge the performance of digital marketing for businesses, marketers may also rely on referral traffic and purchase quantity. The problem with these differences in ROI monitoring is that there’s no common way to measure ROI.
As the leader of your marketing team, it’s important for you to understand how to use data in digital marketing. Unfortunately, many organizations offering digital marketing for businesses often use terms such as analytics, KPIs, metrics interchangeably when, really, they mean different things. One of the key steps to getting the most out of your business data is to establish an understanding between KPIs and metrics and to understand how to use them. Understanding business