Today, brands contribute all their work and effort to their marketing strategies, supporting brand awareness, conversions, and customer satisfaction with a variety of guarantees and content. But how can you be sure that your blog, social media, and campaign guarantee will truly impact your audience and promote your brand’s success?
This is where your key performance indicators (KPIs) come into play. But it’s not just that your marketing team is looking at all the data from Google Analytics and other platforms – it’s like throwing spaghetti on the wall.
It is important to understand what metrics you should actually monitor and pay attention to, what can best tell you about the results of your marketing activities, and how you can use these numbers to refine your marketing budget and ultimately support your overall goals and objectives.
First things first: what’s in the KPI?
Before we go any further, let’s take a moment to clarify what we mean by KPIs. Key performance indicators can cover many aspects – there are substantive KPIs, inbound marketing KPIs, organic search KPIs, customer satisfaction KPIs, brand awareness KPIs … the list goes on and on. Don’t worry, we’ll dig a little deeper into all of these areas.
Basically, KPIs are measurable values that relate to the efforts you make as part of your marketing campaigns and strategy. KPIs should:
- Be meaningful by enabling and supporting decision making.
- Be material (or measurable. We are not going to be abstract here.).
- Support strategic positioning decisions.
- Align the brand with the strategic direction.
Remember goals have you created as part of your overall marketing strategy? These (especially your SMART goals) can be a good place to start.
Here’s another critical area of marketing KPIs, including some examples you can take home and use for your brand:
There are few common suspects you can count, monitor and measure here. While these may seem basic, the reason for these marketing performance KPIs is reason.
This is not just general sales, but specific revenue that comes directly from your inbound marketing campaign. You can calculate this KPI by looking at your full-year sales revenue and subtracting the total revenue from customers gained through inbound marketing. Voila! This will let you know exactly how much your inbound marketing has generated for your brand.
Cost per lead:
It is important not only to look at things through the lens, how much you have earned, but also the costs that will take you there. Here is yours Cost per lead (CPL or CAC [Customer Acquisition Cost] if you’re a fan) comes with a KPI that can show you exactly how much you’re spending to gain new customers. View costs such as overhead, technology and software investments, and the cost of creative effort to calculate inbound marketing CPL; or study advertising, distribution, sales, marketing, and overhead to calculate outbound marketing CPL.
Traffic and management ratio:
Comparing the ratio of traffic to the number of new leads can be especially telling. If this ratio is low, it may mean it’s time to reconsider your goals and make some changes to support more meaningful conversions.
Organic Search KPIs
When talking about traffic, you need to consider the KPIs of some critical organic searches. Here’s the time to invite every marketer’s best friend: Google Analytics. However, as we discussed earlier, it’s important to know where to look here so that you don’t get lost in all the numbers and knowledge that good ol ‘GA can offer.
Here you can see indicators such as time spent on site, number of visits, pages visited and overall bounce rate. However, remember to take this last salt shaker – the collision rate can be misleadingand even Google understands that this number is likely to be high, depending on the type of site. Consider, for example, the average bounce rate for blogs is about 70-98 percent.
It’s a big man, but it can be a little difficult to keep track of, especially for service providers. Retailers typically set goals in Google Analytics to track conversion rates for account sign-ups, item carts, and purchase completions. Service providers, on the other hand, can measure landing page visits, call-to-action, and, of course, service purchases.
Brand Awareness KPIs
Brand awareness is quite critical – if your target audience is unaware of your brand, how do they interact with you? There are several ways to measure overall brand awareness, including KPIs such as:
Reaching social media:
Take a look at the number of shares your social content receives on Facebook, Pinterest and LinkedIn, and pay special attention to sharing statistics related to industry influencers. As Sujan Patel, a contributor to the Content Marketing Institute, pointed out, if Twitter doesn’t take this into account for you right now, you can amplify it. tools like Shared Census and Get Social to better understand their reach on social media platforms.
The brand mentions:
The brand is mentioned in the same way as social reach – the more times your brand is influenced by customers, influencers and other brands in your brand. Each mention will help you grow and grow your brand awareness.
The media mentions:
We don’t go so far as to say that the whole press is a good press (I mean, come on.), But positive media mentions are as good as gold for your brand awareness.
KPIs are measurable values related to your marketing campaigns and efforts as part of your strategy.
Okay, here’s the thing. For many marketers, content is the cornerstone of these strategies – the Content Marketing Institute found 88 percent of marketers integrated content into their overall approaches. At the same time, more than half of them admit that they are in trouble when it comes to measuring whether content works for their target audiences and their brands.
We are here to change that. Here are some important KPIs to track for your content:
Time on page:
It can be used for almost any content, but is especially relevant for search engine optimized (SEO) blogs. Really engaging readers who find value in your content will spend longer on the page. But don’t be discouraged if this KPI is shorter than expected – readers usually only spend 37 seconds reading the article. However, such subheadings, GIFs, graphics, bulleted lists, and other elements can help break up content and keep your readers’ attention.
Together with the metric above, pageviews help determine if your content is compelling. B2B and B2C businesses may have different expectations for this metric. For example, store seats may receive more pageviews when shoppers look at different products. In the meantime, a service company may only have a handful of valuable landing pages.
Traffic acquisition channels:
Where do visitors to your site come from? Organic traffic is supported by search engine optimization (SEO) efforts, which help place your content high on search engine results pages (SERPS). Organic traffic can also come from referral channels, such as social media pages. In the meantime, pay-per-click (PPC) advertising can increase the number of qualified customers who reach your site for marketing. Web analytics lets you know where your visitors are coming from so you can optimize your user flow.
Number of subscribers:
Again, this may be applicable to all different types of content, but is particularly pronounced for newsletters and podcasts. New subscribers – especially evenly over time – signal that you are doing something right: people are engaged and appreciate what you put out there.
Every time content is shared – especially by influencers – it’s a good sign.
Email Marketing KPIs
Among digital marketing channels, email is one of the best ways to attract potential customers to your website. Calculating return on investment is quite simple. All you have to do is subtract your expenses from your profits and divide that number by the total amount spent. So if you spend $ 100 and earn $ 125, your ROI would be 25%.
Testing and deploying email templates will help you get consistent results from your campaigns. By expanding your email lists, you can attract returning website visitors and reduce your average purchase price in the long run.
Return on investment can only tell you so much. Consider tracking for more effective knowledge.
This is the number of people who will open your email. A low open rate usually indicates that the subject lines of your email are not engaging enough. Think of A / B to test some options to determine which topic line sounds to your audience.
Clickthrough rate (CTR):
This is one of the most important metrics for email marketing. Getting people out of your inboxes and reaching your website is the main goal of any email marketing campaign. Use compelling body copy and call-to-action to attract more clicks.
Order cancellation rate:
Marketers are required by law to include an easy way to unsubscribe from marketing messages. If your unsubscribe rate becomes too high, you may need to reconsider the speed with which you send messages to your audience.
Integrating a customer relationship management (CRM) solution with your email marketing platform allows you to identify which leads are coming from that channel. The number of leads generated from an email marketing campaign depends on your industry and audience. If you’re focused on growing sales, this is an indicator you can’t afford.
Customer Satisfaction KPIs
While all of the above KPIs are important, we have recorded one of the most important – and surprisingly most overlooked – customer satisfaction.
We understand – it is not easy to accurately assess the overall satisfaction of your customer base. Aside from the challenges, you definitely need to measure it. Satisfied customers are loyal customers, and loyal customers can expand your awareness and audience through social sharing, word of mouth, and more.
Here are some KPIs you can consider for customer satisfaction:
Promoter net score:
This KPI shows how likely your customers are to recommend your brand to others. And while getting these advertisers will definitely cost your brand (see lead price), reaching unwanted referrals from your most satisfied customers is a true testament to your overall marketing efforts. What’s more, the measurement doesn’t have to be complicated – a simple study can get the job done.
Repeat purchases are a great indicator of customer satisfaction. After all, in the current landscape, dissatisfied buyers will certainly not find it difficult to find your competitors. Your marketing and maintenance efforts pay off, as evidenced by your customer retention rates and increased customer lifetime value.
Numbers and analytics are everywhere today and it can be easy to grasp all the different benchmarks and metrics that marketers can now track. Researching organic search, brand awareness, content, and customer satisfaction will help you keep track of the KPIs that provide the most knowledge for your strategy, while keeping you from drowning in rising data.
Are there any other KPIs that you especially need help with? Let us know below!
Editor’s note: updated November 2020.