Social media mentions.
A storehouse of blogs.
A finished funnel.
Some of the activities you’re investing in may be puffing you and your team up, but are they getting a return?
The best marketing strategies should be backed by numbers.
Proof that they bring in leads, and better, SALES.
Imagine creating a complex marketing strategy but not having a way to truly know that it’s working?
It’d be like the blind leading the blind.
Instead, you need numbers to guide you.
If this sounds like you, your team or your marketing strategy, help is here!
According to Impact, marketing KPIs (or key performance indicators) are “specific, numerical marketing metrics that organizations track in order to measure their progress towards a defined goal within your marketing channels.”
Neil Patel describes KPIs as “metrics that are designed to tell you how effectively you are achieving your business objectives.”
With this knowledge, you can adjust your tactics and strategies, and the money you’re putting into them, to really drive growth.
After all, that’s what marketing is all about!
Now that you know WHAT key performance metrics are, let’s dive into tracking the ones will that bring you the most value.
I know you’re excited about what KPI data will tell you, you need to know a few things.
The BEST KPIs:
The WORST KPIs:
The best KPIs for you to track are tied to your business goals. Choose some of these quality KPIs for your company:
I’m going to give you an easy guide to KPIs you should avoid at all costs, so you don’t end up with an unwieldy list, or metrics that don’t offer any value at all.
Social media likes and fans. Meaningless. Pointless. While it may feel good to have 20,000 followers, if you’re not bringing in leads or revenue from it, it doesn’t matter. We call this a vanity metric.
Neil Patel advises companies to “Keep using Facebook to sell your products and services, though, because we know that converts! Just stay away from running page promotions to build up your fans and likes. You’re better off spending that money in other places.”
Yes, backlinks are still important, but they can be a huge time-suck if you aren’t strategic about them. If you’re going to go after backlinks, remember that Google is wise: They know the difference between a junk backlink and a valuable one.
I know. We listed traffic above. But unless you’re driving quality traffic to your site, this number can also be meaningless. Lots of traffic that doesn’t convert will not help your bottom line.
There you have it! A solid list of valuable KPIs your business should be tracking.
Start with your goals, and build out your customized list of best marketing KPIs that will drive growth.