Marketing is a department that has more measurement than most.
This is due to the width of the complexity of the discipline.
Here is a list of 15 Marketing KPIs that correlate with business performance for you to try now.
Typically the Marketing funnel flows from Brand awareness to converting prospects to Leads which results in a Sales and a strive to maintain customer/client Loyalty in your company or organization. There are a number of indicators for each stage of the Marketing funnel listed below.
This can be measured using an industry survey or even social media tool – however this is a lagging metric.
This indicator needs to be customized according to the media(s) tracked by your business.
This indicators revolves around subscribers to your mail list, followers on your social media channels, client database and regular visitors to your website.
Total Leads & Cost per Lead (CPL)
Know what number of leads you had in the beginning and what it cost.
Marketing qualified leads (MQL)
Respectively Lead to MQL Ratio.
Sales qualified lead (SQL)
Respectively MQL to SQL Ratio.
Revenue per Marketing Qualified Lead (MQL)
Closed Deals & SQL to Closed Deals Ratio
For if Marketing and Sales are overlapping in the organization.
Cost of Customer Acquisition (COCA)
COCA will be much higher than CPL.
Revenue per closed deal
Customer lifetime value (CLV)
This will help to calculate adjusted ROI. It can be aligned with loyalty.
Customer Satisfaction Survey Indexes
Can also be measured as Net promoter score that was reported to correlate with revenue growth.
Referrals & Reviews
Also anything quantifiable that can be considered as a positive recommendation of the product.
Also count the Open rate andClick Through Rate for mail list too
This is an easy to measure metric if your organization uses a subscription model, if not then this indicator will be lagging.
To be a full-stack marketer you’ve got to be literate in Brand Building, Social Media, Paid Media, SEO,
Content Marketing, Inbound Marketing and Marketing Automation, and Conversion Rate Optimization.
What makes the challenge greater is the consumer is not using one of these channels to
engage with a brand, and they’re not doing their engagement is one session. They are likely to be
using lots of channels across days, weeks and months.
This is where analytics, measurement and KPIs come in. There are hundreds of things you can track
and focus on, but which ‘matter’? Which if you focus your efforts on them would result in
the business moving forward in the required direction and velocity?
This is a list of Marketing KPIs that for most companies short-cut the process of planning
what to track and report. This is because the list has a bias towards meaningful KPIs
that are more likely to correlate with business performance.
Your KPIs really are the metrics that matter most because they are often mostly connected to performance, either in a leading or lagging way.
Focusing your efforts on improving them and measuring them can only have one outcome – performance improvement.
Here are some KPIs for Marketing that are designed to measure what matters.
NPS is an index ranging from -10 to 10 that measures the willingness of customers to
recommend a company’s products or services to others. It’s often used as a Company and Marketing
KPI as it gets right to the heart of what a business is designed to do; create products that customers love.
Marketing a product or service with a low NPS score is hard work, and can often involve carrying a lot
of reputational management work whilst the company works on NPS improvements.
The Lifetime Value or LTV of a customer is the expected lifetime revenue from
a new customer signed in a time period.
This is an important Marketing KPI because it impacts that you can spend on acquiring a
customer, which in turn impacts which channels you can use and what proportion of market
demand you can market to. This means that if you’ve a relatively high LTV
you job is easier than a competitor with a lower LTV.
But like NPS, LTV is a Company and Team KPI and actually impacts other teams like Product and
Customer Service. This means that when it’s set as a Goal it’s often a Collaboration across
teams or if it’s an issue could even have a multi-functional squad assigned.
Your Costs Of Acquiring A Customer or CAC is simply that, i.e. the amount it
cost to acquire a customer during the period.
It’s a measure of how efficiently you can use your Marketing Spend to acquire a customer.
Note that where the customer journey is long using the costs in the same month might not be optimal.
There are various types of Lead. At its simplest a lead is a prospect that needs to be qualified as a
real sales opportunity. Once qualified, you convert the lead and the lead becomes an
Account and Contact and Opportunity.
This KPI should be paired with MQLs as it’s possible to create lots of Leads and have them not
convert to MQLs, SQLs, and Sales. So be careful with this KPI.
If a Lead is unqualified, a Marketing Qualified Lead or MQL is a website visitor whose engagement
levels indicate that he is likely to become a customer.
For example, a Lead may have downloaded content, read blog posts, read feature pages and
visited your pricing page. These events have given them a Nurture Score sufficient to call
them a MQL and Sales can and should now engage in a timely way.
The speed an MQL is followed up can be a KPI by itself, as can the conversion of MQLs to SQLs which
helps ensure quality if focused on. Groups of KPIs like these can make great OKRs.
Goals measure how well your site or app fulfills your target objectives. A goal count
represents a completed activity, called a conversion, that contributes
to the success of your business.
These Goals can be significant Macro-conversions like sign-ups, demo request,
and quote requests. They an also be Micro-conversions like Downloads and Webinar attendance.
The macro-conversions make great KPIs.
Analytics Software, like Google Analytics, will be able to attribute these goals to Channels,
Mediums and Sources. These allow you to be more granular and use more specific versions
of these KPIs to manage channel and campaign performance.
The Goal Conversion Rate % is the conversion rate to a specific goal. Increasing the conversion
increases the Goal Count. This is why Conversion Rate Optimization is a critical skill and measuring the
Count and Conversion Rates together are a critical KPIs.
These KPIs if reported in isolation could be considered Vanity Metrics. Vanity Metrics can look great but could show
successful progress and not correlate with business performance.
It’s not a bad thing to look for growth and improvements in metrics like these. But where you can put them alongside more
commercial ones that indicate or even prove they correlate with business growth. Balancing vanity with sanity.
A session is a group of user interactions with your website that take place within a given time frame.
By default, a session lasts until there’s 30 minutes of inactivity, but you can adjust this limit so a session lasts from
a few seconds to several hours. It’s not uncommon to Sessions to go up and not see Revenue rise.
You want people visiting your website to engage. A metric that helps you determine this is Time on Page,
which is the average amount of time a user spends on the page on your website.
What makes this a good metric is it also correlates well with Organic Rankings. So as a KPI that’s used in Goals it’s great.
However you also want engagement to turn into actions so lots of visitors loving you content and not engaging with your product
or at least sharing your content may be an issue. So you can pair it with KPIs like Clicks, Goals, and Position / Rank.
Pages / Session is the average number of pages viewed during a session on your website. On the face of it having
visitors look at lots of pages is great. But what if that meant a small conversion rate or goal count? In some instances,
the best thing to do to optimize conversion is to keep the visitor on your landing page.
It’s great that you’re grow New Subscribers that have opted-in to receive communications. But they also need to fit your
Ideal Customer Profile and be nurtured to a point where they become commercially valuable.
The same issues are there with New followers and Total Followers from a Social Network.
Backlinks are links from other websites to your own content, and improve the authority of your website and
Organic Search Traffic. Not all links are the same and some can be toxic. This means a straight count is not useful.
High search engine rankings for a keyword equal traffic and conversion sometimes is the truth. Which keywords really matters,
as does the intent of the searcher and the subsequent goals that can be attributed.
Diagrammatic blueprints of how the whole company can measure, share and work on what matters, improve performance, and ensure everyone knows and feels that they really matter as well.
If you want to improve KPIs, creating KPI Dashboards is the natural next step.
These KPIs can and should also be used inside Key Results as part of setting goals using OKRs.
Remember that when setting your targets to be ambitious. Goals are deliberately designed to be hard to achieve,
as this is what drives greater creativity, efficiency and effectiveness.
The data can be gathered from integrations with Salesforce and other Sales and
Marketing technologies you’re using, or update KPIs manually.
Inside ZOKRI you can create Dashboards and create OKRs from KPIs. You can also create and manage Initiatives
targeting these KPIs and OKRs in ZOKRI or by connecting task managers like Trello and Asana.
It’s FREE to create an account on ZOKRI – click here to find out more.
Measuring KPIs that matters, setting goals and aligning and optimizing your operations is
the key to performance growth and is what ZOKRI is designed to do.