Due to the fact that digital agencies have various competencies and know how, partnering with one of them is a good solution for improving or promoting your e-commerce site or online business. But how do you keep track of what they are doing and of their results?
If they are a professional agency they will probably send you regular reports on their activity and the things they are developing for your business. But what’s most important, they will send you statistics about how their actions are impacting your business and how they contribute to its development. If not, you should ask for those statistics. After all, it is great to know that X press releases have been sent and X category pages on your website have been optimized for conversions, but it is even better to know how exactly these improvements are impacting leads and sales.
Probably the best way to collaborate is by trusting your agency and their work. However, you should have some control over how ad budgets are spent. In case you are working with a creative agency you probably already know that good ideas and creativity are very valuable things. But they are not the only thing you need. You also have to see their results in terms of business and assess through KPIs exactly how they are influencing sales or brand awareness.
Agencies can develop creative strategies and implement them online. They can also monitor Key performance indicators that relate to online results: traffic, keyword rankings, and page views. Further on it is your business to analyze these online KPIs and use them to calculate financial KPIs.
You should ask your agency to monitor and provide you KPIs data for three main reasons:
- They can give you data needed for financial KPIs
- They can give data they would otherwise omit
- They have the knowledge and the tools to calculate more sophisticated KPIs
So here are a few examples of KPIs that you could monitor through your agency:
1. Traffic source and Conversions. These key performance indicators will show which channel brings more visitors, and which converts better. You can use these metrics in connection with your ad investments and determine Cost per sale and the Return on Ad Investment, channel by channel.
2. Top referrals. It is very important to know who’s speaking about your online business. Your referrals and reviews reflect your image and could influence how your brand is perceived.
3. Branded vs non branded keywords. These are another two key performance indicators who can show you if brand awareness increased and if new customers are attracted to the site.
4. Click through rate. This KPI is important especially if your agency does SEO for your site. In this case, they will probably send you keyword rankings reports. Nevertheless, CTR is equally important if you want to see if those rankings are correctly leveraged. CTR is a good indicator of how compelling pages Meta title and description are, and how well were keywords matched to website pages.
5. Newsletter subscribers, RSS feed subscribers, number of downloads etc. These are micro-conversions or conversions that relate to your goals but don’t necessarily bring sales. They are important because they could bring long term benefits, and chances are they could be leveraged in the future.
According to your type of business and to your objectives you could ask for many others key performance indicators to be monitored. The important thing is to know exactly what you want and to communicate well with your agency.
And whenever you want to take matters into your own hands or double your agency’s efforts, you can use Omniconvert to segment traffic on site, run tests, optimize conversions, and follow your most important KPIs.