Lately, a lot of business brands are focused on investing in their marketing strategies, supporting brand awareness, customer satisfaction, product or content supply, etc. it’s become more as critical as the mission of many brands, to see through successfully with the growth of their markets. Although, more often than not, most brands give little attention to the impact they have on their markets. Some are even uncertain of the impact and to an extent, the growth of their brand’s success. How then is the impact determined?
What are KPIs?
Key Performance Indicators (KPIs) are vital signals that show the impact of your marketing activities is contributing to your business/brand goals. When we talk of KPIs, we are looking at a wide range of aspects including content KPIs, inbound marketing KPIs, organic search KPIs, customer satisfaction KPIs, brand awareness KPIs, etc. They are measurable values related to the efforts made as part of your marketing campaigns. KPIs should be measurable (material) meaningful, enabling, and support decisions for strategic positioning and align with the brand’s strategic direction.
Here are a few important KPIs to let you know if your market is making an impact.
1. Sales revenue
This is the most important indicator of success. To find out if your inbound marketing is generating revenue for your brand, you subtract the total revenue from the total annual sales and determine how you are doing.
2. Traffic to lead ratio
You do this by comparing the ratio of your traffic to the number of leads generated. A low ratio means revisiting your goals and restructuring whereas a high ratio means maintenance or making it even better!
3. Website engagement
On this, you pay attention to things like the number of visits, time spent on site, amongst others.
4. Social media reach
To rate your performance on social media, you should pay attention to the number of shares your content gets as well as the kind of people sharing….you could watch out for influencers.
5. Brand mentions
A higher number of brand mentions across social networks and websites indicate that you have high brand awareness and that’s a good thing.
6. Number of subscribers
Recording a consistent number of increasing subscribers to your content is telling on the perception of your audience. No one would want to sign up for boring or poor content, meaning you’re doing something right.
Are there any other KPIs that you find particularly helpful? Let us know below!
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