Learn how to use data that meets marketing KPI’s to make smart decisions.
More than 80% of companies that try to improve customer experience report an increase in revenue.
It shows how important is to measure your ROI and consistently re-evaluate the customer journey. That’s why you should have smart, data-driven marketing key performance indicators (KPI).
KPI helps you recognize how your business is doing reaching a particular goal.
If you’re trying to figure out marketing KPIs that can help your business, here are some tips that can exceed your expectations
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What Are Marketing KPI’s (Metrics)?
While there are a lot of marketing KPI’s (aka metrics) to look at, there are a few that you need to know that are critical to your business.
Important marketing KPIs are looking at how many leads are generated and how many are converting. This specific metric is important because it reflects what your ROI is.
It also reflects how well your marketing campaign is working when it comes to focusing on your audience or if you need to focus on a different audience.
Another important KPI metric to consider is brand awareness. You can give surveys to your customers asking them how they feel about your business.
You can also look at website traffic and how people are organically coming to your website each month.
If you want to bring in more traffic to your business, you can visit our website and check out our blog on why SEO is important for your business.
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How Can You Improve Your Marketing KPIs?
If you find your conversion rate is low and you’re not generating as much revenue as you want based on your KPI, you can improve it in different areas.
One of the ways to improve your KPI is to make sure your team understands the marketing funnel and who they are targeting. Every team member must understand how the funnel works and how to move the customer along in the funnel.
It will improve your conversion rate and your overall ROI.
You should also consider having specific targets. That means targeting a specific audience, not everyone. When you are targeting a specific demographic, your KPI measurements are more accurate because you are basing them on a direct audience.
Lastly, you should also have a measurement chart that identifies the gap between what the performance is and what you’re overall good should be. An XmR chart can help you identify that gap and how to close it by how much you’ve close that gap over time.
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Your Marketing KPIs Will Help You Refocus Your Marketing Strategy
Marketing KPIs are specific metrics to help you figure out if your business is generating income profit and if your brand is ultimately thriving. It gives you an idea of what you can be doing better.
These tips can help you refocus your marketing strategy and better target your audience and generate a higher ROI.
For more information on how to increase your ROI, contact us.
