Key Performance Indicators (KPIs) That Will Improve Your Marketing

In virtually all aspects of life, we have some form of performance indicator that provides a progress level. For instance, a meat thermometer indicates how cooked a turkey is until it is ready to be eaten. The thermometer determines the turkey’s success stage and how much time it took to get to that point. If it’s taking too long to cook, you would solve the problem by simply adjusting your previous tactic: AKA, raising the oven’s temperature. Marketing works the same way, in that there are factors that provide context to a campaign’s level of success. Here are 7 quick Key Performance Indicators (KPI’s) to help with your marketing. 

It’s important to identify and maintain a conscious awareness of your key performance indicators, or KPIs, so you can take note of what worked in your marketing efforts—which social platforms were successful, which trends, etc. They are measurable metrics that indicate how your brand is performing. We’ve compiled a list of KPIs we feel as though you should keep track of.

1. Customer retention

Retaining customers will inevitably lead you to established brand loyalty from them—once you acquire a solid base of loyal consumers, retention becomes much more critical than new acquisition. This metric helps you understand precisely who your customers are, as well, to continue marketing to them.

2. Organic traffic 

Organic traffic is the traction your content receives through SEO strategy and usage of keywords. Monitoring this organic traffic can help you leverage what is working and what is not in these efforts.

3. Social media engagement

Measuring social media engagement is one of the simplest yet most useful and important metrics for indicating your marketing performance. Paying attention to likes, shares, comments, messages, mentions, etc allows you to understand how your audience is interacting with your brand and what you could do to improve it. Naturally, you’ll begin to notice trends for which kinds of posts perform the best, whether those are videos, carousels, gifs, memes, etc.

4. Website traffic

If you’re doing it right, your brand has a website. This website should be a home and a one-stop-shop for your consumers where they can identify everything about your brand. It’s a great Key Performance Indicator (KPI). Therefore, every other channel of your brand should link to this site to learn more about it. Measuring visits made to your website, how long consumers stay on it, and which pages they look at most can help you grasp their needs and what kinds of information they look for. This platform should be used to answer all of their questions. 

5. Conversion rate

Your brand likely has some sort of call-to-action, or CTA, and it can vary depending on your campaign. A simple CTA could be paying a visit to your brand’s website, or a situational one could be interacting with a poll on an Instagram story. The conversion rate provides you with a percentage of visitors who carried out this desired action for your brand, demonstrating your audience’s engagement. It lets you know how effective you are with attracting leads, and the more influence you have on your audience, the better.

6. Follower growth

Part of social media engagement is measuring your following over time. Monitor the growing (or diminishing) numbers of your followers along your marketing initiatives’ life cycle to ensure that you are constantly growing, even if it’s slow. If you are not growing, or your growth is painfully slow over a long period of time, you’ll want to reevaluate your initiatives. 

7. Return on investment (ROI) 

Whatever your brand may be, you’ll always want to make the most out of your money and wind up with a profit at the end of it all. That’s the goal for any company, at the end of the day. Return on investment, or ROI, measures the amount of money you gain once the marketing costs are all said and done. To do this, subtract the marketing expenses from the sales growth, and divide that by the marketing cost. 

These are just a few of the countless key performance indicators you can use to measure your brand’s marketing successes. Our team at Grova Creative can help you reach and maintain your goals—visit us at grova.com today to learn more!

Grova Creative is a women, minority and veteran-owned agency headquartered in Tallahassee, Florida, and works with clients all across the United States. If you are a business or organization seeking help with advertising, marketing, branding, messaging, marketing, strategy, website development, or other creative assets, visit grova.com.