Key Performance Indicators That Every Marketer Tracks
Marketing KPIs That Every Marketer Tracks
Do you know what dictates the success of your company’s marketing efforts? How much do you know about your business’ marketing performance? Do you know the reason behind your company doing well or not well? The metrics by which you can measure this are known as your marketing’s Key Performance Indicators (KPI).
In order to help you understand your company’s marketing KPIs, invest some time in this A-Z list. Let's get started.
This metric, also called "churn rate," shows the percentage of customers no longer buying your products or services. An increase in churn rate may indicate poor user experience or slow server performance. With the help of the attrition rate, you can monitor how many clients have stopped paying for your services or how many have ordered your products in the past year.
Blog Post Visits
Analyzing the type of customers that visit your blog is a good method to measure what they actually want to read. Additionally, this will help you provide insights into what works for them, and permit you to create content around what your clients want and need.
Client Acquisition Cost (CAC)
Your KPI Marketing analysis must incorporate this CAC metric. Figure out the amount you spend to acquire a client—and contrast this number with your benefit per client. With client acquisition cost/benefit figures, you can see how your marketing costs adjust with your different tasks.
It's true that some content pieces should be long (blog entries and client assets), but nobody likes to trudge through a page to discover what they need. Match the reason for your page with content length to accomplish ideal dwell time.
Email is still the best method of targeted marketing, and personalized emails with a backlink Call To Action (CTA) can effectively increase customer engagement. The email marketing KPIs below ought to be dissected separately.
Click Through Rate
Form Conversion Rates
The Form Conversion Rate metric is the number of users who visit your website or landing page and fill up a form with their details. When measuring content performance, content messaging and key site action, the form conversion rate KPI is a very good metric.
Google Analytics is available to anyone who has a Google account and provides statistics and basic analytical tools for marketing and search engine optimization (SEO). Its features include:
Data visualization tools
Segmentation for subset analysis
Human Capital Value Added (HCVA)
Employees can influence a company’s bottom line. The HCVA is a metric that helps define the financial value an average employee brings to a company.
Inbound Marketing ROI
Inbound marketing strategies greatly outperform by inbound marketing strategies. There are 3 KPIs that matter most in inbound marketing:
- Funnel Metrics
- Web Traffic
- Journey of Buyer
This metric helps you keep tabs on the number of people that find your site by themselves. It also entails paying close attention to all significant changes and trends, in order to trace these back to changes you’ve made to the site.
For a lot of businesses that have ventured into internet marketing, Lead Generation is the prime motive. Every business needs a consistent supply of new leads in order to generate revenue and to successfully measure this. Your business needs to look at the right KPIs for lead generation:
With mobile app usage increasing, a large opportunity for businesses has presented itself. Businesses can engage with their customers and drive more revenue via in-app purchases. To understand how users interact with your mobile app and study your app engagement, here are some important KPIs to track:
Time spent on the app
Frequency of use
Over a given period of time, the number of new followers you've gained on a specific social platform is measured by the New Followers metric. When you combine this metric with information on social interactions and web visits, you can then correlate between new followers and important posts.
Every business using inbound marketing has the goal of getting the most traffic via organic searches. High organic traffic implies that people are finding your website by themselves, which reduces not only your effort but also the cost of attracting them to your site.
This metric helps you analyze customer acquisition to understand how potential customers discover your brand and become loyal customers. There are five stages of the purchase funnel: awareness, interest, consideration, preference, and purchase.
Not all leads that are generated are created equally as they go through different lifecycle stages. Based on lead intelligence, a marketing qualified lead (MQL) is more likely to become a customer.
Returning Visitor Metric
The Returning Visitor Metric measures how effective marketers are with their online audience and demonstrates the value of their content marketing efforts.
When measuring the subjective elements of service quality, SERVQUAL is the most common metric used. Through a survey, you can ask your customers to rate the delivered service in comparison to their expectations.
It’s extremely important to understand whether your website traffic is organic, direct, from social media or through referrals. If your traffic is steady but your traffic-to-lead ratio is decreasing, that's a reliable sign that something is missing on your website.
This metric helps you and your teams acquire insight into how compelling and popular your site is. Each unique visitor indicates the overall awareness of your actual website.
Tracking your visitor ratio, helps you compare the performance of your new content between months. Your new content is driving traffic if you have a high ratio of new visitors to return visitors but the rest of your website isn’t meeting the needs of these new visitors.
Website Traffic to Website Lead Ratio
The percentage of visitors that come to your site and convert into actual leads in any given time period can be seen as website traffic to lead ratio. When your customers find their way to your website, it is imperative that they convert into real, usable, and valuable leads with the help of your landing page.
This metric helps you produce output at the minimum possible cost. As the quantity of output produced may not be ideal, it is not enough to ensure economic efficiency to maximize society's total consumer plus producer surplus.
Year-over-year (YOY) is a way to evaluate measured events in order to compare the results of one time period with those of a comparable time period on an annual basis. This comparison is often used to estimate the financial performance of a company.
Many marketing channels like AdWords are “zero-sum,” which means that if one company wins a piece of that channel then other companies cannot use that same piece. Winning zero-sum games doesn't just give you more value; it also shows that you can close a sale where all your competitors can’t.
KPIs help marketers make quick decisions with timely and accurate information about every aspect of their company—departments and individuals alike—which allows for an effective plan.
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.
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© 2018 Prathamesh Yeotekar