The ABCs of KPIs: The Marketing Key Performance Indicators That Matter

The ABCs of KPIs - Digital Marketing Key Performance Indicators That Matter - Blog Banner by Seeyu Studios Inc - Vancouver Digital Marketing Agency

Are you a small business owner selling products or offering a service? Did you know that half of all business owners don’t have a marketing plan? And those that do, aren’t tracking towards their goals?

It can be hard to stay on top of your marketing goals. You need to set the right key performance indicators (KPIs) to ensure your marketing efforts are on track. 

Don’t worry if you don’t know what KPIs are or how you can use them for your content marketing strategy. We’ve got everything you need right here, so keep reading to learn more about what KPI’s you should track to meet your goals.

What Are Key Performance Indicators? 

Many companies set business goals. But they don’t take the next step to ensure their employees are working towards those goals. Unfortunately, too many times this vital step is missed, and it quickly becomes the main reason why your goals are being met.

However, there are tools available to help you and your team reach your organization’s goals. And KPIs are one of those tools.

Key performance indicators, or KPIs, are the quantifiable measurements a company uses to ensure they’re on track to reach their goals. 

Some characteristics your KPIs should have include: 

  • They’re objective
  • They’re measurable
  • They’re actionable
  • They balance both leading and lagging indicators

As you create your own KPIs, keep these important characteristics in mind so you can ensure you’re tracking the right metrics.

What Are KPIs in Digital Marketing?

Whether you’re a business owner or a digital marketer, you might wonder what metrics you should be tracking. Determining the right marketing KPIs will ensure that you’re tracking the right numbers. And they also ensure that you’re on the right path to reach your final objectives. 

In the marketing world, you should track the following metrics: 

  1. Organic search traffic
  2. Social media reach
  3. Form conversion rates
  4. Email open rates
  5. Conversions per source
  6. Marketing qualified leads (MQL)
  7. Sales qualified leads (SQL)
  8. Customer lifetime value (CLV)
  9. Cost per lead (CPL)

As you can see, there are key metrics you must track at every point in the buyer’s journey.

As your visitors progress from prospect to customer, you need to know how they’re finding your website, and what content ultimately led them to choose to work with you. This can help ensure longevity in the relationships you build with every visitor that engages with your website.

You need to track your customer acquisition costs, such as the cost per lead (CPL), so you know how much each new prospect is for your business. Then you can use this information to determine the best marketing ROI or return on investment, for your team to focus on. 

This is why it’s so important to know the right metrics to track. While followers and comments are fun, they don’t necessarily convert to sales. And you can’t stay in business without sales, so track the right KPIs for your marketing success. 

Benefits of Digital Marketing KPIs

Your marketing KPIs will give you a clear picture of how the work you do every day helps your business reach its overall goals. When you can show your C-suite executives true ROI for your efforts, you’ll never have to worry about anyone questioning the effectiveness of your efforts again. 

Further, by tracking metrics you can see which of your efforts aren’t giving you the return on investment you’d like to see.

This way you can stop doing those tasks and focus your time on the tasks that are helping you reach your KPI goals. As you focus your efforts you’ll save time and money which will, in turn, benefit your company as well. 

When you know what works you can bring clarity to your work. And you know that you’re working on the right tasks that will bring the best return for your time and effort. 

How to Measure the Effectiveness of a Digital Marketing Campaign

It can be difficult to know what marketing metrics to track. And once you do know, where do you find that information? Let’s jump into that now. 

Thanks to free tools such as Google Analytics and Google Search Console, you can find most of what you need online. However, there are also many paid tools that will give you this information as well. These tools can show you what phrases or keywords your web pages are ranking for, and how much traffic each post is bringing you every month. 

Additionally, you’ll want to track your email marketing ROI every month. Track your open rates and your conversion rates so you can see which email campaigns bring you the most sales conversion.

As you track this information, you’ll start to see trends. And these trends can help you determine which campaigns have the highest conversions. Then, you can put more of a priority on those campaigns to increase your overall sales. 

If you’re still unsure about how to effectively measure your efforts so that you can optimize your marketing efforts, consider working with an expert. As a business owner, you don’t have time to hunt for all these metrics and then calculate the return on investment. 

So, if that describes you, then you need to outsource this to an expert content marketing agency, such as Seeyu Studios.

We work with business owners like yourself every day to ensure that their businesses are being found online by their target audience. And we can help you to not only create the right strategy for your goals but also track the vital KPIs that will show you when your hard efforts pay off.  

Track the Right Indicators to Reach Your Goals

Too many business owners never reach their end goals. Fewer still take the time to set goals and objectives. However, setting goals is only half the battle.

You must know what key performance indicators will help you reach the finish line. Once you know what metrics you’re tracking you can ensure that you’re staying on course to accomplish the goals you set. 

You can’t afford to miss your goals any longer. It’s time to work with experts who can help you set the right marketing goals for your business.

Here at Seeyu Studios, we help business owners just like you to set, track, and reach their goals every day. And we can help you too. 

So reach out to us today and we can help you grow your business to the level you’ve always wanted.

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