WordPress focused on Referrals?
Must have 3 Acquisition metrics to monitor
WHAT is Acquisition metrics?
If you ask me personally, then Acquisition metrics = Success metrics. Its why you have your WordPress for the first place.
A marketeer would answer it with a segmented sentence, complicating it further. Acquisition is the total of three distinct stages: lead generation, lead nurturing, and sales.
Whatever is your Success, and whatever you call it (Growth, Performance, Results) its tied to your specific niche. If your WordPress is all about promoting YOUR service, then your Acquisition is all about those who want to purchase YOUR services (or at least consider).
You need a clearly defined acquisition strategy to bring the right “interested people” in to your WordPress to convert them. But how do you set up and then evolve you acquisition strategy? The answer lies in your tracked acquisition metrics. By tracking these metrics, you monitor your business and make data-driven decisions for your growth. And never forget: “What gets measured gets managed!”.
Figure out fast and early whether or not you’re FOCUSING the real HUMANS. Buying digital fluff (leads, clicks, follows, visits, downloads, subscribers or whatnot’s) mostly makes reporting beautiful and bank account empty. Then optimize the acquisition costs (make it cheaper or get more for the same cost). Expand that knowledge into further campaigns. Optimize again, over a specific time frame, and you’ll have a more effectively budget.
WHY monitor Acquisition metrics?
Acquisition Metrics are KPIs, and KPIs are Important for your WordPress. Said one voice, in a whimsical tone.
Acquisition metrics and KPIs help WordPress businesses to gain an in-depth understanding of how their marketing efforts are contributing towards goal achievement. Customer acquisition metrics are important because they provide tangible insights into the effectiveness of your marketing and sales efforts.
These Acquisition metrics allow you to track the cost of each customer, understand the value they bring to your WordPress business, and measure the success of your conversion strategies. With this information, you can make data-driven decisions to optimize your acquisition process, allocate resources wisely, and maximize your return on investment.
Monitor ONLY 3 Acquisition metrics?
3 is just a personal recommendation. Not small enough to get ignored, yet big enough to get noticed, even if you glimpse over them.
Set up Acquisition notification via important channels like email, sms, alerts, notifications that work for your WordPress. Not all the time will this be perfect, but should be important enough to not get forgotten. Make sure these Acquisition alerts are scheduled on a day/hour when intervention is possible. Friday, late afternoon is translated to either Monday late afternoon, or ignored and skipped.
Frequency? Depends.
If this makes or breaks your budget THIS month, then monitor this weekly.
If this makes or breaks your Q1-Q2-Q3-Q4, them monitor this monthly.
If this is a subject for a meeting, then schedule this BEFORE that said meeting.
In all cases, should consider MOM (month over month) and YOY (year over year) monitoring. Helps understanding where you’re heading, at what expected point (logical and educated deduction).
WordPress focused on Referrals? Start monitoring your Acquisition metrics today!
WordPress focused on Referrals?
Must have 3 Acquisition metrics to monitor
#1 – Referrals
This one is kinda obvious as first option to track, when focused on Referrals. Visitors reaching your WordPress by clicking YOUR LINK on an external domain, another website, forum, blog, directory, social media platform, or any online source are referrals. Search engines are not part of this category, even if it seems perfectly logical.
Why track Referrals? Because monitoring referral traffic, you’ll understand how well your marketing, partnerships, backlinks, and overall online presence perform. You also notice when things turn to cold or your business is directly replaced. The sooner you realize this new reality the better.
How to improve tracking Referrals? Use unique tracking links, or better: you own (branded) short URL generator – for each piece of content or referral campaign to measure their performance accurately. Review your referral data weekly or at least monthly, to identify trends, understand what’s working, and adjust or adapt your strategy for upcoming holiday and events related to your targeted audience. This is a must.
WordPress focused on Referrals? Start monitoring Referral metrics today!
#2 – Form responses
For referrals nothing is more important than engagement and conversion. You should have an idea what “leads” are provided from each source and plan accordingly. This is not a case for one page fits all. Plan, refine, adapt each landing page for each referring source, personalize and customize as much as possible. You’ll notice double digit increases when you do these changes.
Why track Form responses? Because you should meet and greet those who show up to your door. Then, this is the perfect place to get to know your visitors. Get the minimal you can work with: name, email, domain, phone, social profile – whatever is mandatory for you. At this step is socially accepted and legally imposed to get consent for these private data crumbs.
How to improve Form responses? Make it stupid simple and more readable. Provide in your content attention-grabbing CTA(s) to improve engagement. Consider incentivizing your refereed visitors. Bribing with a freebie also works.
WordPress focused on Referrals? Start monitoring Form engagement and conversion metrics today!
#3 – Conversion rates
For referrals nothing is more important than engagement and conversion. You should have an idea what “converts” from each referral source. This is not a case for one page fits all. Plan, refine, adapt each landing page for each referring source, personalize and customize as much as possible. You’ll notice double digit increases when you do these changes.
Why track Conversion rates? Because this determines the number of HUMANS reacting positively to your efforts. Conversion rates monitoring reveals how many referrals are “transformed” to paying customers. Track separately each referral source for the number of people who land on your WordPress and how many take the EXPECTED TRANSFORMATION action (like sign-up, registering, sales, orders, subscribers, etc).
How to improve Conversion rates? Segment each referral source for audience data based on demographics, interests, and journey stages. Monitor conversion rates for each segment to understand which content resonates with each and refine your targeting for better results. Constant and more importantly SUBTLE A/B testing really helps here.
WordPress focused on Referrals? Start monitoring Conversion rates metrics today!
