Digital marketing channels produce a lot of metrics. On websites, marketers often analyze the number of overall site visits, page views, time on site, bounce rate, where visitors are coming from geographically, etc. Landing pages are designed to capture form fills, downloads, or purchases. Social media engagement is often measured via likes, retweets, shares, number of connections, and number of fans or followers. Blogs assess the number of subscribers, comments on posts, and how many times posts are shared. Online advertising campaigns often look at clicks and click-through rates in addition to how the advertising is associated with the website metrics mentioned above.
It is easy to get distracted by vanity metrics, including Facebook Fans and website page views. But, does it really matter if your Facebook page has 1,000,000 fans if your application numbers are below goal? Is it actually beneficial to have 50,000 new visitors to your website who don’t take meaningful action?
In the analysis of whether digital marketing channels are effective in the overall recruitment mix, it is critical to analyze metrics that truly matter. Such metrics could include how much you are spending to generate an information request or application. To determine whether spend level per conversion is economically viable, it is necessary to understand average conversion levels throughout the enrollment funnel in combination with average marketing spend per prospect, tuition revenue, and financial aid/scholarship information.
What are the key digital marketing channel metrics that you analyze when evaluating how effective each channel is?