15 Marketing KPIs to Maximize Your Success [2023 Update]
In this article, we will explain what is a KPI in marketing and discuss how they can be useful tools for monitoring the performance or marketing campaigns.
What is a Marketing KPI?
A marketing KPI (Key Performance Indicator) is a way to measure how well your advertising and promotions are performing. It helps you see if you're reaching your goals and what you can do better.
Click-through rate (CTR) is a marketing KPI that calculates the percentage of people who click on an advertisement or link after seeing it.
Common Marketing Campaign KPIs
1. Website traffic: the total number of visitors to a website during a specific period.
2. Conversion rate: the percentage of website visitors who complete a desired action, such as filling out a form or making a purchase.
3. Cost per lead: the average cost of generating a new lead through marketing efforts.
4. Customer acquisition cost (CAC): the cost of acquiring a new customer through marketing and sales efforts.
5. Return on investment (ROI): the amount of revenue generated compared to the cost of marketing and advertising efforts.
6. Customer lifetime value (CLTV): the total revenue a customer is expected to generate over the course of their relationship with a company.
7. Social media engagement: the number of likes, comments, and shares on social media posts.
8. Email open rate: the percentage of email recipients who open a marketing email.
9. Click-through rate (CTR): the percentage of people who click on a link within a marketing message or advertisement.
10. Organic search traffic: the number of visitors to a website from search engine results without paid advertising.
11. Referral traffic: the number of visitors to a website from other websites or platforms.
12. Bounce rate: the percentage of visitors who leave a website after viewing only one page.
13. Time on site: the amount of time visitors spend on a website.
14. Net promoter score (NPS): a customer loyalty metric that measures the likelihood of customers to recommend a company to others.
15. Churn rate: the percentage of customers who discontinue their relationship with a company during a specific period.
KPI Marketing Strategies
1. Set Specific Targets
Set specific and measurable KPI targets that are aligned with your overall business goals and objectives. This will help you to focus your marketing efforts and track progress towards achieving your goals.
2. Optimize Marketing Performance Based on KPI Data
Use the data from your KPIs to optimize your marketing strategies. If a particular campaign is not generating the desired results, make adjustments to the strategy or tactics to improve performance.
3. Maintain a Holistic View of Your Performance
Rather than focusing on one or two KPIs, use a wider variety of marketing KPIs to evaluate success or failure in your marketing campaigns.
Lido can help you aggregate all of your data and build dashboards to easily display your marketing KPIs and visualize your company’s performance. Get started here.