Key performance indicators are quantifiable measurements that help you measure progress towards business goals.
If you don’t measure it, you can’t improve it.
Some things your business could measure include:
- Sales Revenue
- Cost Per Lead Acquisition (by medium)
- Email Marketing click-through & open rates
- Marketing Expense as percentage of total revenue
- Content Marketing pageviews, comments, shares, cost per piece
- Website Traffic Sources
- Advertising Conversion Rate
Some metrics are considered vanity metrics, though we believe that these metrics, when combined with other metrics, can tell a story, and help you improve and refine your website:
- Total website visits
- Social activitiy
- Organic rankings
KPIs should be quantifiable keys to business success that reflect business goals. They should be consistently measurable long-term metrics.
For example, a small business may have a goal of fast business growth: We need 25 new clients this year with an 85% retention rate. We know we can easily attain 15 clients and most will become repeat customers, but we want to aim a little higher for a growth challenge, and be clear about customer satisfaction goals.
The key to defining marketing goals is first understanding where you are; once you’ve analyzed your current position, you can choose a primary goal and a few supporting goals to impact your revenue.
If you don’t know where you’re going, how do you know when you get there?
So your small business goal is growth, and you know you’ve got a digital audience and a solid website. How do we target and measure digital marketing efforts?
Strategy: Generate sales leads with unique, valuable content (and lead generation forms).
Measurable KPIs: number of leads generated & Conversion Rates for each content piece/page.
In general, we advise monitoring website metrics regularly – keep your finger on the pulse of your website traffic and conversion rates overall. Master Web Creations implements Google Analytics with goals for all our clients and monitors monthly for significant changes that may indicate a problem. Problems can arise from website spam to new local business competition. Changes can also occur seasonally, so not all change is bad, we look forward to celebrating your success!
Find out more about our consulting and marketing services, or contact us directly with your concerns.
We welcome your comments and questions and look forward to hearing from you!