Top 5 Marketing KPIs You Should be Tracking
Being able to measure the effect from your marketing campaign or knowing when you should change its direction is critical. Nowadays, a lot of businesses don’t know what they should be tracking or how to estimate if certain approaches drive meaningful results and contribute to higher customer lifetime value. Here is why we are listing the 5 most important marketing key performance indicators that you must be tracking in 2021.
1. Website Performance
Your website is probably the most important digital asset for your business. If you are looking to improve it, it is important to understand the different factors that can have an impact on performance and bring conversions. When auditing your website, pay the most attention to:
- Website speed – your website load time has a direct impact on your search engine ranking, conversion rates and social media activity. If your page takes to load more than a few seconds, you are very likely to lose significant number of users before they get to know you and convert. Not sure if your speed is good enough? Check your website performance on the web.dev platform and find out recommendations for improvement. Examples could be reducing the size of images on your pages, code optimization or applying caching tools by your web hosting provider.
- User experience – it is not always about numbers. Make sure that the design and interface of your website attract and retain users who can easily get what they are looking for. Usually, the bounce rate of your pages or live video recordings of user sessions, such as those made by Hotjar, can help you identify potential UX issues that you can work on.
2. Google Search Console Statistics
The platform helps you monitor your website performance in SEO and provides a lot of information such as backlink analysis, mobile usability, page speed insights etc. What makes it valuable for marketers is the fact that it monitors data from multiple sources and allows to:
- Analyze traffic on your website – see which queries bring users and track impressions, clicks and ranking on Google search engine results
- Get your content indexed on the search engine – you can always make sure Google has indexed the newest content on your website
- Get alerts in case of issues with your website – Google will notify you in case certain issues with your website are being detected
- Understand how Google reads and ranks your content – you can always check how Google understands and serves information about your business within the Google network
3. Leads and Conversions per Period
Your clicks, website visits and great designs mean nothing if they do not attract leads and end with a conversion – a purchase, a signup, a subscription or something else of value for your business. Of course, you will be able to measure the conversion rate of your performance marketing campaigns on Google Ads, Google Analytics or Facebook ads but the results will be poor if you do not plan your sales & marketing funnel in advance. In other words, this means to prepare content for users from all of the following levels:
- Top of the funnel – these are the users you usually get from social media, paid advertising, organic searches, whitepapers and more. What you want to do is turn them into leads and nurture them and the next stage. It is essential to outline which channels work best for you and attract the highest number of leads.
- Middle of the funnel – here you need to bridge the gap between awareness for a product and a purchase decision by a user. The best content formats for this purpose might be blog posts, case studies, webinars, or product pages. Remember that quantity doesn’t matter much if users are not engaged, and this is why you need to track and measure performance. Make sure that you get positive return on investment from every event organized or piece of content that you prepare.
- Bottom of the funnel – here are the users you need to care most about. Now it is the time to display use cases, testimonials, videos, pricing and to demonstrate your superiority over competitors. At this stage you need to measure your conversion rate to understand whether you really satisfy users’ demand.
4. Social Media Performance
All your target buyers are active social media users. It is not enough just to have your own profiles on Facebook, Instagram, Twitter or LinkedIn. In addition, you must be interacting with people, publishing engaging content for them, and trying to turn them into brand followers. Insights from interactions by users on social media with your profiles can help you evaluate the quality of your marketing efforts. Pay attention to interactions with your posts, change in number of followers (especially if it is negative), stories and posts previews, and most of all, to comments on your publications or about your brand across networks. A good idea might be to use a social listening tool to help you learn what people talk about you on the Web.
5. YouTube Performance
It is not a secret that people would rather watch videos than read texts or engage with other visuals about your brand and offerings. Moreover, video formats are the best way to showcase your capabilities, expertise, and solutions. This makes YouTube performance one of the key marketing KPIs you should consider using to measure and improve your digital presence.
On YouTube you will have the option to see how your latest video performs in comparison with your channel’s average performance or which of your videos are most popular across viewers. YouTube Analytics comes with many more useful reports that will tell you whether you are doing enough to attract and engage users with your video content.
In case you are keeping an eye on all these marketing KPIs, you are probably getting the most out of your digital and offline marketing efforts and resources. Currently, these metrics can best represent the impact that your marketing campaign has on society and the attitude of the audience towards your brand.