What would happen if you asked your team what KPIs to measure to determine the success of your digital marketing campaign? Chances are, you would probably find an array of opinions that don’t really align.
If you don’t have a consensus on data, nothing is getting measured, which means nothing will improve. While this is true, more than 50% of modern marketers struggle to align KPIs and their business goals.
KPIs Defined
KPIs are a type of measurable value that reflects your business objective and your company’s progress to reach it. They help you determine how successful you are when trying to reach a certain goal.
To avoid any confusion, it’s important to note that KPIs are not the same thing as metrics. Metrics are just data measurements, while KPIs can be used to assess your overall strategy. If you want to ensure your team is on the same page when it comes to KPIs so you can determine the overall success of your campaigns, keep reading. Here is some helpful information.
Revenue Derived from Digital Marketing Leads
This is the amount of revenue that is derived from your digital marketing efforts. To determine this, you must total the revenue during a set period. After that, determine the number of closed leads generated by your digital marketing team and then multiply that by 100.
With this formula, you can assess the impact of your campaign, figure out how to use your budget, and prove the overall return on your investment of the various digital marketing efforts you have in place.
You can utilize marketing automation to save time on this otherwise tedious task. With automation in place, you can track every customer’s interactions across campaigns and initiatives until they make a purchase.
Overall Lead Quality
Lead quality refers to how you have optimized the lead generation efforts in place with what your customers are looking for. Up to 48% of marketers have said that only about 50% of leads are considered “good quality” and ready for additional nurturing or sales.
If you have plenty of quality leads, your digital marketing efforts will resonate with your audience. However, if the lead quality is low, you can re-evaluate how your messaging addresses your customers’ needs.
With lead scoring, you can determine the quality of your leads. This is going to help assign points to the visitor reactions and allow you to rank your leads. When you score leads, you can prioritize and engage the leads most qualified in your current marketing funnel. To figure out what a qualified lead looks like, you need to get your marketing and sales teams together to figure it out.
Improving Your Website Results with the Right KPIs
When you focus on the right KPIs, you can improve the results your site achieves. Be sure to keep this in mind and take the right steps to minimize issues while building your website and your brand. Achieving success requires you to focus on figuring out what’s working and what’s not.