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Choosing Your Campaign KPI

KPI stands for Key Performance Indicator which measures the performance of how your company is performing at achieving a specific goal. Regardless of the department, there are all goals that the company hopes to meet.  From marketing goals of seeing a return on their advertising spend, to the operations reducing the company’s expenses. KPIs are needed for any department to know the specific level they need to meet and to understand how well or how much more improvement there is to go!

Common Marketing KPIs

  • Dollar and Cents 
    • Click Thru Rate
      • The percentage of people who click thru to the desired location from paid or non paid content. Paid content includes any paid advertising or media that your team has completed. Non Paid content includes the content you posted on your social media accounts.
    • Foot Traffic
      • These people have seen your paid advertising and then walked into physical locations. 
    • View Thru Rate, % Viewed, & Skipped Rate
      • View thru rate, % viewed, and skipped rates are metrics to assess the quality of your video advertising. View thru rate is the number of people who view your entire video. Percent viewed is the percentage of people who watch to a certain point. Skipped rate is the percentage of people who skip the ad once they are able to.
    • Conversion
      • A conversion is an anticipated activity that a targeted person completes.  Examples of a conversion could be people who complete a form, book a meeting, subscribe to your blog, or purchase your services for example  
    • Conversion Rate
      • Conversion rate is a calculation of people who complete the desired action.  
    • Cost Per Conversion
      • Your cost per conversion helps your marketing team know if they are getting enough conversions for the investment to be profitable 
    • Return on Ad Spend (ROAS)
      • ROAS  measures the revenue that was created from your advertising efforts.
  • Website  
    • Website Visitors
      • Your website is an extremely important asset to any company.  It helps explain the solutions you offer as consumers are doing research online. If you have analytics available on your website, you can track the effectiveness of traffic from multiple sources and evaluate the most effective avenue to create additional sales revenue.
    • Referral Traffic
      • Referral traffic identifies where your website traffic comes from.  This is used to help understand which referring sites like social media platforms, paid media, or SEO send quality traffic to people spending time and performing anticipated conversions.
    • Organic Traffic
      • Organic traffic is used to measure your SEO success of how people naturally find your website when performing searches online. 
  • Lead Generation 
    •    Marketing Qualified Leads (MQL)
      • An MQL is a prospect that is engaging with the marketing initiatives your team has created. With time, re-engagement, and the right messaging an MQL can become sales-qualified leads (SQL) and then a customer.
    • Sales Qualified Leads (SQL)
      • An SQL is someone whose current needs fit the solutions your company offers. They might have found your company organically or have been nurtured by your marketing team but they are familiar with your company and as a prospective customer ready to talk to someone on your sales team.
    • Customer Retention
      • Obtaining new customers is much more complicated and expensive than maintaining a high customer retention rate. These customers have purchased from you before, and therefore you are already past the awareness phase, and there is less competition to gain their attention. A customer re-engagement strategy and excellent customer service at the original purchase are important to obtain a high customer retention rate.
  • Social Media 
    • Follower Growth
      • If your company is on social media, follower growth is essential because it is a measurement of how your strategy is increasing brand awareness and provides you with more opportunities to interact with your audience. 
    • Social Media Engagement
      • Social media engagement tracks when someone interacts with you such as likes, shares, comments, messages, tags, or mentions. 

Managing your marketing strategy can be overwhelming.  But as you become familiar with the reporting and the KPIs, you will become more comfortable making informed decisions on how to proceed with additional marketing budgets. 

If you need any support or have questions about your current strategy, Diamond Media Solutions offers a free consultation to review and discuss optimizations to your current strategy.  Please feel free to reach out today to!

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