I don’t believe in leaving success to chance. I believe a true marketer forges his own success, by studying the information at his disposal in order to determine what will work before he does anything else.
Identifying the best opportunities to nail conversion is key to optimizing your ROI. Blindly marketing to anybody at any time or place is a surefire way to waste capital and effort. In some ways, it’s a lot like backing the right horse for the race: you need to know how well it’s going to perform on the day, before you throw your money down.
What are key performance indicators?
In a nutshell, a key performance indicator (KPI) is a type of performance measurement. By pulling data from performance reports, marketers are able to identify key metrics that contribute towards the success of a campaign. When thinking about landing pages in particular, examples of possible metrics used to determine KPI’s may include:
- Time of day The time of day when click-through rates are highest.
- Day of the week The day of the week when click-through rates are highest.
- User Device Mobile or desktop devices used by landing page visitors to complete conversion.
- User Location The geographical location of incoming traffic with highest conversion rate.
Once each KPI has been identified, marketers are then able to use this information to take advantage of conversion opportunities, whilst at the same time avoiding known parameters that have proven to be less profitable.
Image: Performance report showing conversion to click ration throughout the day (source. Clickthroo)
Note the best opportunities for conversion outlined in red.
Why are key performance indicators so important?
Not all marketing efforts will be successful, and those that fail to perform will inevitably cost time and money. Identifying what doesn’t work, alongside the things that do, will help determine where resources are best spent and where it would be wasted.
Without referring to proven KPI’s, you’re simply second guessing what may or may not work and burning through your budget in the process. Especially when you’re paying for traffic through the likes of Bing and Google Adwords.
Combining key performance indicators
Combining various metrics (such as time of day and day of the week) will help narrow down where conversion is at it’s likeliest. Much like combining the previous performance of a horse on certain types of soil with weight and speed, the likelistoutcome becomes much clearer to predict. It’s all about refining the masses of data at your disposal until you have a proven algorithm for success.
Other types of performance indicators
Your landing page itself is a metric for success. The use of certain elements and your choice of composition will ultimately determine it’s performance. Of course, it’s not as simple as looking through a performance report to identify which elements yield the best results. Instead you need to split-test to find find out: running one landing page variant against another to find out what works and what doesn’t.
(Landing page builder, integrated tracking platform, A/B split testing, traffic segmentation, template and image libraries, integrated trafic sources, optional affiliate marketing module, and much more…)