Successful marketing is all about measuring success. Marketing KPIs, aka key performance indicators, are metrics which can help track success. Organizations of all types and advertising approaches utilize KPIs to measure their progress towards a goal. It is especially imperative to set realistic KPIs when it comes to advertising.
Tracking new KPIs with the right tech can make all the difference for your marketing efforts. Analyzing the right KPIs can help ensure that you’re properly allocating resources and strategizing for success. Don’t put yourself and your marketing at risk by tracking the wrong KPIs.
Sales Revenue: How effective is your inbound marketing campaign? By understanding your sales revenue KPI, you can better understand the success of your inbound marketing efforts. By better tracking inbound marketing effort success, you can allow the right resources for this facet of your operations.
Finding your sales revenue is easy. Simply take the total revenue from customers gained via inbound marketing and subtract that number from the total sales for the year.
Repeat Customer Value: Some customers bring a lifetime value to the business, bringing in high average sales, frequent visits, and long duration of patronage. All of these factors multiplied create your customer value KPI. Call Tracking is one way to monitor repeat customers, organic customers, or paid customers.
New Contacts: Do you understand your web traffic? Do you know where this traffic is coming from? Is it social, paid, direct, or referral? Understanding your web traffic and web user dynamics can help when it comes to developing successful KPIs.
There are many factors that can influence your page rankings and web traffic. An older site or poorly written copy can all damage your new contacts KPI. If there are drastic changes in your web traffic, it is time to look into what’s going on.
Landing Page Conversions: This tech-focused KPI helps analyze the success of your web landing page. Is the landing page converting customers into a sale? Is it helping them along the next step of their customer journey? If not, it may be time to refocus efforts.
Cost Per Lead: It’s important to analyze the financial success of your outbound marketing efforts. What is the cost for you to get a new customer through outbound marketing? How does this stack up against your inbound marketing costs?
If you are calculating the CAC (customer acquisition cost) for inbound marketing, it’s important to consider the technology at use, your general overhead, and the manpower at use. For outbound CAC calculation, the costs include your general overhead, manpower, marketing distribution, and advertising as well.
After calculating the CAC metrics for both inbound and outbound marketing, you can assess the success of these ventures. It also becomes much easier to budget for future campaigns.
Does your company mainly use inbound marketing? With the right tech and skill, you can break down this component into specific campaign types. Then, you can analyze and determine which campaign is bringing your most profitable results.
Social Media Traffic & Conversions: It’s important to run metrics to analyze the success of your social ventures. Check the number of lead conversions from each individual social channel. Also, look into the number of conversions which are generated through social media.
Inbound Marketing ROI: The return on investment (ROI) is a major concern for investors and business marketers alike. Your inbound marketing ROI is crucial to help determine the performance of your efforts. It’s also helpful when it comes to planning future strategies for your options.
Understanding your inbound marketing ROI can help when it comes to setting and honoring a reasonable budget for your business. ROI is a KPI which can make or break advertising campaigns, both inbound and outbound.
To calculate your inbound marketing ROI, you subtract your marketing investment from your sales growth. Then, you divide the result by your marketing investment again. The answer is your ROI.
Lead to Customer Ratio: How many leads have your sales team closed? Consider sales qualified leads, which are ones that were completed after a customer has filled out a specific form. Sales accepted leads, on the other hand, are leads which your sales team has contacted directly. See which option brings your best results.
Organic Traffic: The main goal is to surpass all other businesses by having the best traffic from organic search. If this KPI is struggling, it’s time to contact professionals for an improved SEO approach.
Mobile Traffic Jams: If your site isn’t properly optimized for mobile, you may be disappointed in your mobile KPIs. You can improve your conversion rates, traffic, and leads by optimizing your site for mobile.
Allison is a wonder-mom of 2, ninja writer and marketing campaigns analyst. Allison frequently writes about internet marketing, PPC, SEO, and advancements in the digital marketing arena.
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