What are KPIs?
In today’s competitive market, it’s more important than ever to be strategic across all marketing efforts. One sure way of achieving this is by using relevant, quantifiable and smart KPIs to help track, monitor and improve performance.
In simple terms, Key Performance Indicators (KPIs) are quantifiable metrics that help measure performance. They can be tied to short-term or long-term goals and to a certain extent, usually correlate with company goals.
Fortunately today’s marketers have access to vast amounts of data and tools to make the process much more efficient. However, it’s easy to get lost in all the data and find yourself back at square one. Knowing the right metrics to measure is key. Below are a a few key KPIs to help you get the most out of your marketing:
Social media reach and engagement
Whether it’s Facebook, Instagram, Twitter, LinkedIn etc or a combination of a few channels, evaluating how each channel is performing will help you improve. Measuring who views your content against who interacts and engages with it across all channels will help establish what works and what areas require improvement. Producing more of the best performing content will help you deliver relevant content for your audience and conquer social media algorithms.
Website traffic and bounce rate
How many people are visiting your website, how long do they spend browsing and what actions are they taking ? The reality is we have less than 15 seconds to grab web users’ attention before they move onto something else (Time). Plus, over half of web users now browse on their mobile phones according to Broadband Search. Evaluating these metrics with this in mind helps us establish what’s working and what improvements can be made.
GET THE LATEST DIGITAL MARKETING TIPS & NEWS
Sign up for my monthly email newsletter
Organic search and keyword performance
Measuring your SEO efforts through organic search, keyword performance, and leads and conversions from organic search will help streamline your overall SEO strategy and improve your ranking on search engines. Essentially, measuring these particular KPIs and making informed decisions can mean positive, long-term results for you business.
Lead generation and conversion rate
The average landing page conversion rate was 2.35%. It’s worth noting that this of course varies across different industry. But, how does this measure up against your own conversion rate ? What percentage of your leads are converting and how can you improve this? Delving deep into this data can massively impact revenue and ROI.
ROI and revenue growth
Needless to say ROI and revenue growth are key indicators of performance and often correlate with overall long-term company goals. Although they can be many factors that influence these KPIs including operations and sales, being able to attribute the impact marketing makes can be a game changer.
For more on measuring marketing performance and best practises, you can get my latest book, Digital Marketing Strategy.