This article describes the top 6 metrics that have the greatest impact on the success of an Inbound Marketing strategy.
In case you not familiar with Inbound Marketing it is the process that produces Internet visibility and generates traffic for your website. In general, the more visible you are on the Internet, the more investors will visit your website.
Digital Marketing refers to the overall process when you combine Inbound Marketing with the performance of your website.
You could say websites play a more pivotal role because they have the critical task of converting visitors into qualified leads. However, a website without visitors is like a retail store in a mall that has no foot traffic. Therefore, you could also make the case that Inbound Marketing and websites are equally important. They must work together to produce a successful digital marketing result.
How well is your current digital marketing (Inbound Marketing + website) strategy working? This easy to read article describes six important metrics that measure the success of your current digital marketing efforts
Your key to success is ranking on page one of Google for several hundred keywords that are used by your ideal types of clients. Why hundreds of keywords? Because, in the aggregate, they are your best source of traffic for your website.
It stands to reason, you do not want just any type of traffic. You want traffic that is represented by your ideal type of client. For example, your preferred type of client might be a pre-retiree who is searching the web for tips they might follow when they transition from work to retirement. Or, even better they are seeking an advisor who can help them transition from their working years to their retirement years.
Why is page one rank so important? According to Google, 91.5% of its user do not scroll to page 2, only 4.8% scroll to page 2, and only 1.1% scroll to page 3. So, page one visibility is of critical importance, but it takes time to work your way up the ranks to page one status.
This means you have to play by Google’s rules to have any chance of success. Why Google rules? Because you want to rank on page 1 of Google for keywords that drive the right type of traffic to your website.
Note, I also said rank for several hundred keywords. You want a small amount of traffic from a large number of keywords. Competing for traffic on a few keywords, in particular extremely competitive keywords, can be an impossible task. It can take a lot of time and effort to achieve this lofty goal. It is much better to select less competitive keywords, but more of them.
Your marketing strategy pays off when you see an increase in your traffic on your website. This is a critical metric because it tells you your Inbound Marketing strategy is working. The opposite is also true. Low traffic or static traffic mean you have visibility problems on the Internet.
It is also important to add that you want the right type of traffic based on your ideal personas. If your ideal client is a retiree, then you want to reach this demographic on the Internet and convince them to visit your website.
Home Page Bounce Rates
The word “bounce” is a harmless sounding word, but in the world of digital marketing it can have devastating consequences. It is also known as a single page session and it can be the difference between success and failure or winning and losing.
In this context, a single page session means they visited your home page and exited your website. You could interpret this a number of ways, but the bottom-line is they visited your site, exited the site without looking at any other content, and they do not come back. When this happens you should assume the first impression was negative or it did not meet their expectations. This can be a design or content flaw.
Your home page creates your electronic first impression. Its primary purpose is to deliver a message that creates enough interest that visitors stay on the site and use your navigation to visit other pages. The more time they spend on your website the higher the probability they will contact you or register for a free offer (eBook).
Conversely, if your home page has a high bounce rate (visitors exiting your site) you know the home page messaging above the fold, sometimes referred to as an elevator pitch, is not resonating with the investors who visit your site.
Time on Site
Another key metric is the amount of time visitors stay on your site. It may be a lot less than you think. Paladin’s last survey of times on site for more than 150 financial advisor websites was two minutes and thirty-three seconds. That is not much time to convince someone to give-up their anonymity and contact you.
Your website’s navigation becomes a critical variable when you realize investors will exit your site before they will search for information.
You want to make your most important information, say differentiating characteristics, front and center on your website. Other examples are key information about your professional staff, services, pricing structure, and the investors you serve.
Free Offer Registrations
Some investors are actively seeking financial advisors right now. They are surfing the Web looking for advisors they can interview. However, there can be a lot more investors on the Internet seeking information. It makes sense to help them find that information on your website in the form of a free eBook or whitepaper.
Most eBooks are gated so investors have to register to gain access to the content. The registration information creates a marketing opportunity for you.
You can follow-up by email and/or telephone to establish contact.
Chances are these investors will end-up on your drip list so you can stay in touch until they are ready to start interviewing financial advisors.
Website Conversion Rates
There is an old saying: “Where the rubber meets the road”, which is another way of saying “where it really counts”. In this case, where it really counts is your website’s ability to convert a visitor into a qualified lead. This means your website has to convince a visitor to give-up his or her anonymity and submit their contact information.
This is an important metric because if your website is not converting visitors into leads you are wasting your time and money on the Inbound Marketing efforts that produce visitors on the site. Your website may need a refresh to make it a lead generation website.