Do you know how effective your marketing is? When you meet (or miss) your revenue targets, do you know why?
As a whole, digital marketers are data nerds, and there’s no shortage of tools to help you track your agency KPIs. The challenge is finding the right tool for the right job. We found the 5 best digital marketing measurement tools to track your most critical KPIs.
Focus on Tracking the Right KPIs
It’s easy to get overwhelmed by measuring everything under the sun, especially with powerful tools like the ones on our list. However, we recommend focusing on the metrics that move the needle for your business.
At Seven Figure Agency, we suggest monitoring the following three key performance indicators for marketing agencies:
- Sales Revenue: Ultimately, everything in business boils down to how much money you’re making. Sure, you can tighten the belt and cut expenses, but a better approach is maximizing revenue. Agencies often set monthly goals and track progress daily or weekly.
- Conversion Rates: A conversion can mean several different things, ranging from the number of website visitors that subscribe to your email newsletter to the number of leads that turn into paying clients. You may want to track conversion rates at every level of your funnel to identify where people drop off.
- Strategy Sessions: It’s an industry best practice to offer a strategy session or discovery call before signing a prospect. From a revenue planning standpoint, you might need to book a specific number of strategy sessions per month to meet your desired revenue target.
Knowing how close you are to this goal can help determine when and where to pivot to reach your target.
Top Digital Marketing Measurement Tools for Agencies
In an ideal world, there would be a single tool that does it all, but given the complexity of digital marketing and all of the moving parts, you’ll need a handful of measurement tools to get the job done. These five will give you everything you need, and then some.
1. Google Analytics
This free and incredibly powerful tool is the starting point for all things data. Google Analytics connects to your website and allows you to track every KPI under the sun, from traffic data to conversion rates, and you can break it down by gender, device, location, and more.
Need to measure performance over time, identify trends, and demonstrate an overall lift due to your marketing efforts? Google Analytics can make that happen with the click of a couple of buttons.
Even though Google Analytics gives you a wealth of data, most agencies find that there are a couple of missing pieces to the data puzzle, and that’s where the other tools on our list come in handy.
If you do any kind of content marketing (and you should), you’ll want to know which pieces of content are performing the best. One of the KPIs you’ll want to track is the number of backlinks your content earns.
Ahrefs is the ideal tool for this task, and you’ll be able to track your ranking performance over time.
Like Ahrefs, SEMrush is a helpful tool for tracking the success of content marketing and SEO strategies. Where SEMrush also shines is in providing accurate competitor ranking data and comparing it to your own website performance.
SEMrush is ideal for agencies who understand that their own performance doesn’t exist in a vacuum. Real performance tracking happens when you know that you’re crushing the competition.
If you’ve ever wondered how leads are interacting with your website and where they’re dropping off, heat mapping software like Hotjar is your golden ticket to valuable insights. You’ll be able to pull KPIs about time on site, scroll percentages, and conversion rates. Our favorite feature is the recordings, where you can see a live-action view of how visitors are interacting with your site based on their device type.
Have you ever wondered how your other branded properties are performing, but you lack data insights because you don’t own the platform? Meltwater tracks all mentions of your brand across the entire Internet. With Meltwater, you can find out what people are saying about you on podcasts, social media, blogs, news outlets, and other digital properties.
Bottom Line: Use the Right Tools for the Right Job
Leveraging digital marketing measurement tools can help you identify new opportunities and untapped revenue streams to help you scale your agency to seven figures and beyond. For more helpful agency tips, be sure to claim your free copy of The Seven-Figure Agency Roadmap Book and subscribe to our podcast.