How do you ensure your marketing efforts are successful?
Track marketing metrics!
I help companies all over the world develop better key performance metrics (KPIs), and it’s never a “one size fits all” process.
The right metrics will depend on your business goals, so I recommend starting with a goal and then deciding what KPIs you will track to help you measure your marketing performance.
In this post, we’ll look at the three most important marketing goals, and then I’ll suggest some KPIs you can measure for each goal. You can take these suggestions and customize your own set of marketing KPIs for your company.
Goal #1: Build brand awareness.
To grow your sales, you need to build brand awareness or consumer recognition.
To find out whether people are aware of your brand or product, I recommend brand awareness surveys or social media analysis. You can also use website analytics to track how much traffic you’re currently getting, and how that traffic is changing over time. What are your most and least popular web pages, and how can you fine-tune the brand message on those pages to help you raise your revenue?
Goal #2: Generate new leads and acquire new customers.
Obviously, every business must generate leads and acquire new customers.
To make sure you stay on track for this goal, you can track metrics from your funnel like:
● Impressions – The number of times a campaign or ad has been displayed to a prospect
● Click-through rate – The clicks you generate from an email campaign, ad, or web page
● Opt-in rate – The number of people who sign up for a discount or lead magnet, or fill out a form to book a call
● Conversion rate – The number of prospects who actually make a purchase
Goal #3: Customer engagement.
As a business, you must engage with your customers, add value, and nurture the relationships you’ve built.
The KPIs you can use to monitor customer engagement are social media stats (likes, shares, comments), as well as number and percentage of returning visitors, time on site, number of pages viewed, and minutes of videos watched.
Customizing Your Own Relevant KPIs
If you’d like to learn more about tracking vital marketing performance metrics, you can explore my key performance indicator library or get detailed descriptions and examples in my books on KPIs.
This content is a great starting place for you, but the key is to start with your company’s information needs, then create a customized KPI plan that gets you where you want to go.
Where to go from here
If you would like to know more about measuring HR effectiveness, check out my articles on:
Or browse the KPI Library to find the metrics that matter most to you.
Bernard Marr is a world-renowned futurist, influencer and thought leader in the field of business and technology. He is the author of 18 best-selling books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations. He has 2 million social media followers and was ranked by LinkedIn as one of the top 5 business influencers in the world and the No 1 influencer in the UK.