Marketing KPIs that Need to Be Tracked
The following is based on an excellent blog post and infographic by the Hurree company.
In marketing, KPIs (key performance indicators) are measures used to evaluate the performance and progress of campaigns and activities. Creating a successful marketing strategy with effective campaigns is a key to driving more revenue and business growth. All marketing should be measurable and any business that wants to be successful should track and report on KPIs regularly.
Even the most experienced marketing teams waste time tracking and reporting metrics that don’t provide any valuable insights or actionable outcomes. So what actually matters? Following are a few important KPIs:
1. Customer acquisition cost
2. Customer retention rate
3. Customer lifetime value
4. MQL(marketing qualified lead) to SQL (sales qualified lead) conversion rate
5. Website traffic
6. Social media engagement
7. Online brand impressions
8. Channel partner funding
KPIs, which encourage focus and attention, are a roadmap for setting and achieving companywide and departmental goals. KPIs also:
Improve employee engagement and morale
Close learning gaps
Aid in making decisions
Detect trends and patterns
The list of KPIs above is by no means exhaustive. The trick is to articulate KPIs that lead to revenue either directly or indirectly (but not obscurely). The full article and infographic are here: https://blog.hurree.co/blog/6-kpis-that-marketers-should-be-tracking.
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