Marketing helps sales and business growth. Keep an eye on your Marketing KPIs!
Most marketing professionals are presentation addicts. PowerPoint Presentations are usually the appropriate format to introduce a strategy, define the sales objectives for the year and share conclusions and findings. But presenting Marketing results should be performed in a much more dynamic kind of format such as in a marketing KPI dashboard. What is marketing KPI? Marketing is meant to help sales grow by providing the sales teams with the right leads and with the tools they need to promote a product/service efficiently.
To track marketing efficiency, campaign data needs to be collected and crossed with sales data. Because online marketing can be costly, online campaigns performance needs to be tracked at all time, in real time almost to allow fellow marketers to adjust the messaging or the key words to reach maximum outreach. So in short, for marketing, KPI metrics should be implemented to measure the performance of each marketing activity and the overall contribution of marketing to the company sales.
Marketing KPI software can help create and communicate the marketing results. Digital marketing generates a lot of data that needs to be consolidated in such software. Ideally marketing KPI dashboards need to include performance indicators of the current campaigns as well as campaign performance comparison over time. To set marketing KPIs one needs to run an inventory of all ongoing campaigns regardless of the channel and display indicators such as conversion rates of prospects into leads, open rates, click rates etc. To set marketing KPIs one also needs to mix marketing data with sales data in order to determine the revenue generated by marketing activities.
Content Marketing KPI
Organic traffic quality and growth is a good indicator of whether a content marketing approach is working or not. Content production is usually organized around buying personas and it there to make them feel comfortable with an expertise or a solution solving their particular business problems or answer their questions. The performance of content marketing should definitely be included in the marketing KPI dashboard. Good content should bring good leads, which is precisely what needs to be measured with KPIs such as download rates and conversion from landing to signup page.
How does one know that his SEO strategy is working? Again the organic traffic is a pretty efficient revelator of the SEO performance. Google Analytics metrics can help with that. If inbound marketing is part of your company acquisition strategy then SEO KPI are a must! Well working SEO will drive more traffic and better traffic to your website or e-commerce site. If converted properly, this traffic will generate more leads. Each step of the funnels needs to be tracked over time: conversion from visitors into prospects, prospects into leads and leads into customers.
If you sell a B2C product, there is a good chance to some of your marketing is implemented with great social media presence. In this context SMO KPI needs to be part of your marketing KPI dashboard. The objective is to know exactly what kind of traffic comes from each social media dedicated page or campaigns and whether this traffic converts well. SMO efficiency can be measured with similar indicators to SEO performance as the goal is similar.
Marketing ROI is more critical in certain business than others. E-Commerce is one of the sectors where it matters greatly! When a given campaign is launched to increase the brand visibility, ROI is quite difficult to measure. But if marketing is mostly for inbound sales then each campaign’s performance should be evaluated upon the number of leads brought in.
Discover more about KPI metrics with our other guides :
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