What Exactly Is KPI in Digital Marketing?
Key performance indicators (KPIs) are metrics that help you measure the success of your digital marketing campaigns. By focusing on a small set of indicators, you can more easily track the progress of your digital marketing efforts.
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What to focus on?
There are a wide variety of marketing KPIs available, so it can be tricky to know which ones will best fit your goals and objectives. Fortunately, there are some important guidelines to follow when choosing the right indicators for your business and strategies.
What to avoid?
While many KPIs are useful, there are also many that simply do not have any real value. For example, if a metric is something that isn’t directly related to your goals or that you can’t change, it’s best to avoid tracking it.
What to look for?
One thing that marketers must always consider when selecting KPIs is whether they are helpful, relevant, and attainable. This means that the metric should be meaningful to your business and provide insights into how to improve it.
A helpful metric that can be useful for both inbound and outbound marketing is customer lifetime value. This can be a very valuable metric as it tells you how much revenue your customers will bring to your business over the long term. It can also help you determine if your current marketing strategy is working or if it’s time to make changes.
Another important metric to consider is cost per lead, which can be used to measure the success of a PPC campaign. This metric can be very helpful as it takes the impact of budget changes out of the equation and allows you to see how effectively your PPC strategy is working overall.
What to focus on?
While most digital marketing KPIs are pretty straightforward, some may be more complicated or require deeper analysis. This is why it’s important to be prepared to dig deep and learn about your business’s objectives, as well as what data you need to collect in order to determine how successful your campaign is.
What to look for?
While many digital marketing KPIs are useful, there are also a few that simply do not have any real value. The classic example is a Managing Director who wants to be at the top of Google for a keyword that doesn’t provide any traffic which converts.
What to look for?
While most digital marketing KPIs are useful, there have been cases where a company has wasted its money on an unprofitable PPC campaign because it was too focused on an expensive metric like cost per click. This is a very common problem and it can be frustrating for both the client and the company if a KPI is set too high or if it doesn’t reflect how effective the PPC strategy is.
What to focus on?
While there are a few essential digital marketing KPIs, there have been cases where a company wasted its money on an unprofitable PPC Campaign because it was too focused on an expensive pixel that was too easy to manipulate. This is a very common problem and can be frustrating for both the client and the Company if a KPI is set too low or if it doesn’t reflect how effectively the PPC strategy is working overall. \