5 Metrics That Determine How Much You'll Sell

Important Marketing Metrics

Are you looking for data that will help you increase your sales? In this digital era, data and numbers are readily available to businesses. However, the world of too much information can be overwhelming. Where should business owners look? How can they turn these numbers into predictable sales? We have narrowed down the data to these 5 metrics: Total Visits, Churn Rate, Traffic Sources, Reputation, and Bounce Rate. Understanding these metrics can make or break your business, so pay close attention. 

1 . Total Visits

While the number of site visitors does not equal the total amount of sales, monitoring this general metric is important. The total visits metric can be a good indicator of the success of your marketing campaigns and product placement. For example, the number of visits to a site suddenly dropping could indicate a fall in the Search Engine Rankings. Alternatively, a spike in total visits can let businesses know that their campaigns are effectively reaching potential customers. If the number of total visits is dropping, it is likely that sales are dropping too. 

2 . Churn Rate

Churn rate is a measure of how many existing customers are lost in a set time period. 

It is important to analyze who is engaging with your site. Why are existing customers so important? The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 5-20% (Marketing Metrics). Keep an eye on this metric to monitor existing customer relationships!

3 . Traffic sources

Analytics can provide data that shows you how visitors found you. . For example, an organic search means that a visitor found you through natural search. A paid search means that a visitor found you through a sponsored search result link, and direct traffic happens when visitors type your name directly into their address bar.

In 2019, Wolfgang Digital analyzed the total revenue earned in 4 different retail categories by traffic source type. For all commerce types, organic traffic is the highest revenue yielding traffic type. This is followed by a near tie for second with Paid Search and Direct Search. From this information, we get a glimpse into the mind of consumers. While paid search is effective and brand awareness is always helpful, being clearly present online so that consumers can find you organically is the most effective way to drive sales.

Revenue

 

Organic

Paid Search

Direct

Email

Social

Display

Referral

Other

Retail

35%

20%

16%

5%

3%

0%

19%

2%

Multi- Channel

37%

16%

14%

5%

1%

0%

24%

3%

Online Only

33%

28%

19%

5%

5%

1%

9%

1%

Travel

41%

15%

23%

2%

1%

0%

16%

2%

Overall

38%

18%

19%

4%

2%

0%

17%

2%

Wolfgang Digital 2019

4 . Reputation Metrics

Reputation metrics such as social media mentions or star-rating user reviews help to explain what consumers think about you. Word of mouth recommendations both online and offline are helpful to track and monitor. According to Convince and Convert’s 2018 report, 83% of Americans say that a word of mouth recommendation from a friend or family member makes them more likely to purchase that product or service. When a product or company’s reputation is both positive and widely talked about, sales can be expected to increase.

5 . Bounce Rate

Bounce rate is a measure of how many visitors immediately exit a site after opening. When a visitor immediately exits, they are spending no time engaging with the site and, even worse, not purchasing products/services! Alternatively, keeping a low bounce rate can predict future sales, as consumers are spending time on the page. Keep bounce rates low by keeping keywords relevant. Make sure your landing page is user-friendly and works across all devices. When consumers bounce from a site, a potential sale is lost!

Monitoring these five metrics can help you understand and predict consumers’ purchase behaviors. An ideal website will organically attract site visitors who then stay and engage with the brand. Smart companies will work to keep existing customers satisfied, reminding them to share their positive experiences both offline and online. By keeping an eye on what matters most to your business, you can make informed decisions and maximize sales.

Want to make your business’s digital presence more effective?  Schedule a call today

7 Deadly Sins of SEO

Biggest SEO Mistakes

According to Chikita, the first page of Google results gets 95% of user attention. If you’ve ever wondered why some websites are lucky enough to receive that first-page placement, you were wondering about SEO. SEO, or “search engine optimization”, is a way to gain organic traffic through improving rankings in search engine results page (SERP).  

Search engine webmasters are constantly evolving the SEO guidelines to enrich user experience. These governing rules work to keep searches safe, credible, and relevant. Penalties for breaking the rules can wreak havoc on a business. Alternatively, great SEO practices can help to improve conversions and KPIs. So, how can you be sure to appease the Google gods? To simplify the process, we have outlined 7 Deadly Sins to avoid in SEO.

Thou shalt not...

1 . Wait to start implementing SEO

Organic search, or a search resulting from matching relevant keywords, is generally the most important form of web traffic. From the very start a website’s creation, making it easy to find online can greatly improve your business. Websites without visitors don’t sell much! If the first page of Google results gets 95% of user attention, then SEO should be considered along every stage of a website’s life.

2 . Hire any old SEO company

It is extremely important to hire a reputable SEO company. Search engines like Google don’t accept excuses such as ‘I didn’t know’ when doling out penalties. If your website is caught using high-risk tactics, you are the one who will be punished. Check that the company in consideration will measure and collect data to design trend-based, tailored solutions. Only use companies that set a clear intention to improve the quality of the traffic. Companies who promise specific numbers of quality links are lying to you. No legitimate SEO agency can promise the first place ranking on Google for important keywords. If it sounds too good to be true, it may be. 

Do your own background research, and ask for referrals.

3 . Use irrelevant keywords & links

A keyword is a word or phrase that describes the message of the content. Keywords and links to external sites which are unrelated to your product offerings can lower your ranking on the search engine results page. In 2016, Google’s Webmaster Guidelines began penalizing websites demonstrating ‘patterns of unnatural, artificial, deceptive, or manipulative outbound links’. Search engines will penalize websites who wrongfully insert irrelevant keywords and links.

Search engines catch unrelated keywords and links because it hurts the user experience. Even if you get away with it, visitors who come to your page only to find that it doesn’t match their search criteria bounce off the site. High bounce rates also hurt your SERP rankings. Keep the keywords and links included on the page as specific as possible to your product or service.

4 . Use too many links

Google recommends a maximum of 100 links per webpage. This loose limit does not mean that they are going to punish anyone for having 102 links. Rather, Google is trying to set a standard that they believe to be the maximum amount of links present to still keep the content relevant and meaningful.

Something to consider, however, is that when a web page is chock-full of links, it can look sketchy to visitors or be hard to read. This could drive people to bounce from the site, dropping the site’s search ranking. 

Keep in mind that every time a page includes an external link, that link is drawing a visitor away from the original site. Do not forget the power of internal links!

5 . Commit keyword ‘stuffing’

So you’ve found the perfect keyword: it’s specific to your content, drives traffic, and follows consumer trends. You should put it everywhere you possibly can, right? Wrong! While this black-hat tactic could work in the short term, eventually you most likely will be caught, resulting in a harsh penalty or, in the worst case, a total SERP removal. Google is particularly harsh on techniques such as keyword stuffing as they trade improving user experience for beating the algorithm.

A solution to this ‘sin’ is to use synonyms and to only use keywords where they naturally fit. 

6 . Focus too heavily on “Text” content

The world of the web has so much more to offer than plain text! Flex your creativity by including pictures and videos. Not only will this make visitors become more engaged with the website, but it also gives the opportunity to create titles and alt-texts. By giving pictures and videos written descriptions, you can double check that the content is relevant to your webpage. All content, including images and videos, should relate to the overall message of the page.

7 . Copy external content

Copying and pasting relevant external content may be convenient, but it hurts your SEO in the long run. Search engines avoid showing the same exact information on the results page, so they filter to only show the original content page.

Your website is the door to your business. Managing SEO leads potential customers to access that door! Being thoughtful with content, keywords and links not only give searchers the best experience possible but also improve the site’s search engine ranking. Stay in Google’s good graces, and avoid the 7 deadly sins.

Don’t commit an SEO sin! Start optimizing your site today. Schedule a call with our experts.