Here Are The Marketing KPIs, Your Small Business Needs to Track
What are Key Performance Indicators?
The term “Key Performance Indicator” (KPI) is used primarily in business management to define any measurable metric (i.e., figure or statistic) that provides the key to the future performance of an organization. They can track through performance, audience, and conversion data. KPIs are necessary to measure because they are the data points that will meet business goals, and you need to understand these so that you can be successful in your marketing campaigns.
Why You Need to Start Tracking Key Performance Indicators
“As a small business owner, it’s important to monitor your marketing KPIs so you can see how your marketing efforts are going. The best way to monitor your marketing KPIs is by using a marketing dashboard. A marketing dashboard provides you with a quick snapshot of how well your business is doing.”
A well-crafted KPI helps key stakeholders (often senior management) make better decisions (more informed decisions) about what they should do to improve the organization’s performance. It enables the organization to better measure its progress; that’s why it’s essential to understand the definitions of marketing key performance indicators (KPIs) to track the progress of the marketing activities. Essentially, KPIs are the fundamental metrics that measure the success of marketing campaigns.
The 7 Marketing KPIs that are important to track are:
1. Monthly Traffic
The Monthly traffic is the number of visitors that a web page receives every month. A website’s success is based on how many visitors it attracts to its pages. More traffic equals more exposure to the world, which in turn leads to more conversions.
A website can gain more visitors by creating specific content for various types of visitors. If the website has a targeted audience, then the content should be for that group. When creating content, it’s essential to write with that type of person in mind.
One of the best ways to get more views from your blog is to write engaging and informational content.
2. Conversion Rate
While Conversion Rate can be a complex metric to improve, there are a few different tactics that you can use to get a better conversion rate.
The first thing you want to do is make your website as easy to navigate as possible. It means that you should have a responsive website that works on all devices, and it should be easy to read and understand.
Next, you want to make sure that your website is designed to appeal to your target audience. You can use social media plug-ins or offer rewards for sign-ups to make the process even more appealing.
3. Engagement Rate
Having a solid Engagement Rate on your website is vital to the success of your content. The engagement rate of your website is how many visitors interact with your website. Content that is engaging continues to engage the visitors on your site. You must review with your site visitors what their engagement is with your site. You can find out with the use of Google Analytics.
Ultimately, the best content to use with an increased engagement rate is content with various media types. Including images, videos, and articles in your content will encourage your users to stay on your site longer. Knowing your website’s engagement rate will let you know what kind of content you should be used to increase it.
4. Leads Generated
One of the most important metrics for tracking website visitors is Lead Generated. A lead generated is a visitor who has requested more information about the company. This metric is important because it shows how many visitors are interested in the company.
If you see a large number of leads generated, then your website is doing well. If you’re not, this could be due to the website not being correctly set up or not showing up in search engine results. It would help to investigate why people are not generating leads on your website to correct the issue.
5. Customer Satisfaction
Customer satisfaction is a measure of an organization’s relationship with a customer. It is a crucial indicator of the quality of a company’s service. Customer satisfaction surveys can measure it, so it is vital to measure.
How to measure customer satisfaction, why is it important to measure?
There are many ways to measure customer satisfaction, so no one method can be considered the best. Customer satisfaction surveys are the most common way to measure customer satisfaction because they are the easiest and least costly to conduct. However, they also have shortcomings such as a low response rate which can lead to inaccurate data.
6. Net Promoter Score
One of the best measures for customer satisfaction is the Net Promoter Score (NPS). NPS is a simple question with an even more straightforward answer.
NPS is a way that provides information about how satisfied customers are with the services of your company. NPS stands for Net Promoter Score. You can calculate this by asking customers how to recommend your company to others on a scale of 1-10. Where “1” is less likely to recommend the organization., and “10” is customers have the potential to promote the organization to a friend. After that, subtract the percentage of detractors from the percentage of promoters. (Detractors are those who gave you a score of 0-6 while the Promoters gave you a 9-10). This score can indicate customer satisfaction.
7. Organic Traffic
Organic testing is simply the number of visits to your website that are not from paid advertisements. This can also be referred to as “natural” traffic. When you are not paying for advertising, the visitors are coming because they are interested in your content. Organic testing gives you willing potential customers.
Organic traffic is the number of people who go to your website through search engines such as Google and Bing and find your site in the search engine results. It is the number of people who see your site in a search engine and click on it, and not the number of clicks on ads you’ve placed in the search engine.
These are only a few metrics that will show an impact on your marketing efforts. Also, having a team of marketing professionals can be beneficial to help you manage your marketing efforts. Ensure that you always give importance to your business KPI, as it could make a difference in achieving your marketing goal.
