30 Mar Find The KPIs That Matter Most To The Growth Of Your Business
Find The KPIs That Matter Most To The Growth Of Your Business
Understanding and determining your KPIs is the first step towards building a solid and successful online marketing strategy for your business.
Every action you take, every step towards your overall business goals is marked by a KPI. So take your time to really nail these guys down and you will literally see your success unfold right before your eyes.
Determine Your KPIs
If you don’t know already KPI stands for Key Performance Indicators – and these are basically the figures, metrics, and measurable data that can be used to track your progress towards your main marketing goals.
KPIs are essential to know where you stand. They help you measure your progress, and you can track them to understand what effect any changes have had. Basically, without them you are just winging it – and if you are just winging it and not measuring it, can you really improve it?
When it comes to setting your digital marketing KPIs there are a few usual suspects that almost always make an appearance (but note they need only be included if you think they are important to your business goals). They are:
- Sales revenue
- Online marketing ROI
- Costs Per Lead
- Customer lifetime value
- Organic website traffic
- Form conversions
- Social media reach and engagement
One of the top tips I can suggest to you is to make them S.M.A.R.T. Meaning they should be specific, measurable, attainable, relevant, and time-bound. Make them precise and make them the key factors towards your end goal.
Fire them into a spreadsheet and be sure to track and record them on a weekly, monthly or quarterly basis.
Okay, so this is so important. It’s so important that I’ve actually done a whole podcast on it. If you haven’t had a listen check it out here 👉🏻 MBM Let’s Grow Podcast #2 The Difference Between Results and No Results
Ultimately if you don’t take action, you won’t see results.
Something to always bear in mind is that the bigger move is made up of all the small moves you take to get there.
So listen, read, watch, write, prepare as much as you want – but don’t forget to actually put things into action. No matter how big or small a move it is, it’s still one step closer to where you were yesterday.
It sounds simple but so many of us stop ourselves from just taking the action. Maybe it’s a fear? Maybe it’s just procrastination? But it is something you have to push through.
If you follow any great Instagram accounts (Come say hey! Megan Burns | MBM Academy ) and you see some tips you think would work great on your website or social channel, take note, and then physically go and do it!
It helps to run insightful reports to see clearly how and what has changed and what you should do moving forward.
There are numerous platforms and programmes that you might find works really well for you. Some will be free and some you may have to pay for. But as long as you have your KPIs determined you will find one that works for you.
Here are a couple that I think are essential:
- Google Analytics – installed into your website, this will allow you to track activity, demographics, audience behaviour and much, much more.
- Social Reporting – an excellent online tool for this is Agency Analytics, which allows you to quickly and easily pull reports for all your social channels. See if you can relate business spend against social peaks.
With any online marketing strategy, it’s important to have goals and understand the direction you are going in. Determining your KPIs earlier makes this so much clearer – you can then see what differences any action you have taken has made, and what steps you need to take next.
If you keep taking action you will progress!
For more marketing takeaways and insightful tips, come join me every Wednesday on the MBM Let’s Grow Podcast. And if you liked this article and think others might like it too please give it a share 🙂
37 Minute Online Digital Marketing Training
Need more online sales? Learn the exact strategies I used to turn around one of my clients under-performing digital campaigns to generate over £2,000 of sales overnight. Complete the training in your own time.