10 KPI Metrics You Should Track Every day in Marketing

Promoting your business online has become one of the biggest deals in today’s marketing world. Digital Marketing takes up the burden of taking your business worldwide while setting up the required parameters and close observance can clear the path to success.

As a 21st-century entrepreneur, you should fit yourself with ideas for what marketing efforts make your business/ company successful. Understanding the required key performance indicator will elevate the company’s growth strategy.

Before you continue further reading, it is necessary to know the basic concept of KPI and how it is helpful in marketing?

What is KPI?

Key Performance Indicator (KPI) is an important term in determining the progressive performance of a business. In other words, KPI is a measurable value defining the efficiency by which your company attains the objective of business.

Organizations consider KPI in their marketing campaign to declare whether the investment is spending on right areas or not.

Difference between Marketing Metrics and KPI

While the terms KPI and marketing metrics resemble the same meaning to the readers, there is a slight variation between the two, it is clear to summon “All KPIs are marketing metrics but all metrics are not KPIs”.

A goal-focused campaign should keep track of KPIs in order to steer the business towards future marketing decisions.

Most Key Performance Indicators are based on the genuine recorded data gathered during the campaign. The measured data are insightful, relevant to the campaign, linked to specific timeframe focused on address and these KPIs have a certain phase of connection to marketing.

Most of the KPIs are directional, practical, actionable and quantitative.

Why is KPIs Important to Marketing?

Though all that you read till now defines the term “what is KPIs?” the research does not stop at this point of understanding. It is very specific for all the marketers to know, “what is the importance of KPIs in marketing?” and “How is it related to marketing strategy?”

KPIs in marketing campaign help to define your:

• Marketing strategy and objectives
• Need and plan to reach goals
• Required efforts for valuable result
• Better ways to achieve goal

What if KPI not considered? Without KPI, one can never analyze the campaign performance and ROI.

Digital Marketing KPIs to Track

1.Leads and Conversion Rates

If your website is effectively optimized and loading speed is good, with so many customers browsing through the search results can be a lead. Conversion happens only when the customers make a desired action.

Conversion can be observed based on:

• Form filling
• Email
• Link click
• Phone Call
• Purchase

Conversion rate is the number of conversions divided by the number of customers who visited your website.

2.Cost Per Conversion(CPC)

Every click and conversion in a marketing campaign cost an amount to the organization and this CPC metric gives the cost spend on one conversion.

CPC= BUDGET/ NUMBER OF CONVERSION

3.Number of Leads

Lead is considered when the contact information of the customer is acquired. Leads are categorized into two:

Marketing Qualified Lead who show interest in brand

Sales Qualified Lead who purchase the brand/ product

4.New Customers

Keeping a count on a new customer visit to a website can later be a lead. It is useful for KPI in marketing.

5.Cost of Customer Acquisition

It is the amount spent on a campaign to acquire a new customer.

COST OF CUSTOMER ACQUISITION= BUDGET/ NO. OF NEW CUSTOMER

6.Search Rankings

An eye on search ranking once in a week can be a great help in valuing the keyword-based on the position in search engine results (SERP). Search Rankings can address the bidding on keyword.

7.Traffic

• Organic: People visiting the website through organic search
• Social: Traffic generated through social media shares
• Referral: Traffic generated from the link on other websites

8.Social Shares

This metric denotes the number of times a piece of content is shared through the social network sites.

9.Inbound Links

Inbound links are the backlink given in between the content as an outsource to another webpage or another website that drive traffic to your website.

10.Sales Growth

Considering sales growth two KPI metrics can provide relevant result

• Track the changes in number of sales
• Change of dollar amount as sales stack up

Final Note

Now we are at the end of the blog, you could have understood what are KPIs and its importance in marketing.

Analyze the need of the service and keen observation of the KPI analysis/ digital marketing metrics can enhance your business in all possible ways and clean the path for destination.

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