Essential KPIs You Should Consider for your Marketing Strategies

Are you a marketing professional currently revising your marketing strategies to make your company more successful ? Are you thinking about goals for your business, but you are not sure how to track your marketing efforts ? Then, it is time to consider having KPIs to understand better the desired results of your campaigns. Every successful marketer use these metrics as it helps them to assess effectively what they are willing to achieve. This might look like an ambiguous term to you, but it is actually nothing complicated. In contrary, you will be suprised how knowing about KPIs will make your life simpler when rethinking your marketing strategies.

KPI in Marketing Defined

A KPI stands for Key Performance Indicator and is a value that you can measure that track a goal progress. A KPI is always connected to a marketing objective and helps measure how effective a particular campaign is. Indeed, they help you analyze the performance of a specific marketing project.

Importance of KPIs in Marketing

Why having KPIs tied to your marketing goals is important ? There are several reasons why you should have a clear understanding of these performance indicators. According to the marketing and data analytics organization Klipfolio (Links to an external site.), it helps you determine which direction your company is taking. You can also identify the ways to attain your goals. You can finally see if your marketing efforts were worth it and what could be changed in order to have better results.

There are many KPIS in marketing that you must understand. Here is a list of the most popular ones and their definition :

  • Leads : It is characterized by the people who have expressed interest for your brand.
  • Cost per lead : It is the price you pay in order to obtain a new lead.
  • Search Ranking : It is tracking the ranking of your site in a search results page.
  • Organic Traffic : It can be referred to the people who visited your site through organic search.
  • Referral Traffic : This is the traffic generated to your website thanks to the presence of your link on other company’s websites.
  • Mentions : It is the number of times other medias refer you on their platforms.
  • Social Traffic : It is the amount of traffic generated to your website thanks to social media channels.
  • Social Shares : It is the number of times a specific social media content of yours was shared in the same platform.
  • Cost of Customer Acquisition : It is the cost associated when acquiring a new customer.
  • Sales Growth : It is tracking the change in sales in a specific period of time.
  • Conversions : A conversion takes place when a potential customers takes action. It usually refers to the people who make a desired purchase.
  • Conversion rate : It is the number of people who converted over the number of people who viewed your website.
  • Cost per conversion : It is the price you pay per people who converted.

Based on the marketing strategies that you are coming up with, you will be able to choose the appropriate related KPIs. It is time for you now to design the most innovative Marketing Plans by including KPIs in the development of your strategies. You will see how your managers will be be more convinced by your marketing campaigns value when presenting them KPIs interrelated to their objectives. Now that you master essential KPIs in Marketing, you will be able to better monitor your results and performance and effectively guide your team in achieving your goals. Prepare yourself for marketing success as you have a clear understanding of Key Performance Indicators in Marketing !