A marketing strategy without key performance indicators (KPIs) is useless. A key element in marketing success is measuring and revising campaigns as audiences or market change.
With social media marketing, KPIs have changed a bit.
There is a lot of information available and it’s easy to focus on the wrong area. So which KPIs should your marketing team focus on?
Keep reading to learn about the top marketing KPIs you should measure for success.
What Are Marketing KPIs?
Marketing KPIs are the metrics surrounding the performance of your marketing efforts. These analytics tell you about how well your campaigns are doing, how far your reach is, and what kind of results it’s generating.
There are quite a few KPIs available to measure. We’ll focus on the most important below to help guide your decision-making.
This measurement is from your website. The bounce rate determines how many people view one page and then leave your site immediately after.
A high bounce rate means your website needs some help. It’s not attention-grabbing or isn’t designed well. You can easily decrease your bounce rate with a responsive web design.
You’ll see an increase in leads, too!
Conversion rate is the most important metric in paid marketing. A conversion means your campaign has successfully gotten someone to do what your ad asked them to.
This could be clicking a link, filling out a form, or purchasing a product.
There are many ways to increase conversion rates. Learn more here.
These marketing metrics tell you if your audience clicks your ad. You can learn analytics around how often your ad is clicked or how many impressions you’ve made.
This is an important measurement because campaigns with low click-through rates mean you aren’t catching the audience’s attention.
Updating your copy, imaging, or some other factor can improve click-through.
Cost Per Lead
To calculate the cost per lead, you divide the cost of the campaign by how many leads were generated.
This is an important metric because you don’t want to pay too much for leads if they aren’t working out.
Measuring social media engagement allows you to know what types of posts your audience likes to see.
Each platform has its own set of analytics and insights. These allow you to understand the reach and engagement for every post you make.
Including paid or boosted ads.
To best understand your social insights, it’s best to learn about each platform’s reporting methods.
Which Marketing KPIs Will You Measure?
This article outlined five KPIs that you need to be measuring to assess the success of your marketing efforts. With the information gained, you are ready to choose your marketing KPIs and streamline your campaigns.
Are you uncertain about how to achieve success with your marketing campaigns? Or maybe you are ready to outsource to an agency that specializes in marketing and growth.
If you want to partner with an industry-leading and award-winning marketing agency to help you manage your marketing KPIs, please reach out about our services.