Marketing KPIs (key performance indicators) are specific, numerical marketing metrics that are tracked in order to measure their progress towards a defined goal within your marketing channels. However, it can often be difficult to know which indicators are the best to track when looking for success.
This past week on BluHorn TV, we asked experts in the marketing field what they believe are the best KPIs to track. Christian Jennings from wmHarper says that the most important KPI for her is awareness.
“I think a lot of brands and a lot of companies look for us to tell them, ‘Great! You’re helping from the top of the funnel with awareness but how can we jump to the bottom of the funnel?’ They forget that awareness is the key to getting clients or customers to even pay attention to your brand.”
Awareness is important, especially for small businesses wanting to separate themselves from the pack. Overall awareness drives the consumers’ decisions when differentiating between competing companies. Good brand awareness encourages consumers to return, driving up sales and market share.
“I really think an important KPI is the idea, ‘Are we building our brand?’ I think that the marketing advertising space has changed in a lot of ways through digital media because we’re no longer just competing with brands and companies in our categories if you will,” Savage said. “We’re now competing for the same consumer in a lot of different marketing ecosystems.”
Building up the brand is a big part of gaining awareness. Without an effective brand, one that clearly and accurately expresses your company’s values, there is nothing for the consumer to latch onto. In order to build awareness, you have to stand out, you have to attract the consumer you are seeking.
Branding and awareness both play a part in driving sales. If you aren’t seeing the numbers reflected there, it can be an indication that your tactics aren’t working or you are missing a vital marketing component. For Carrie Messinger of True Agile Marketing, sales are the most important KPI.
“I think marketers get so caught up in KPI they get way over their heads,” Messinger said. “What it comes down to at the end of the day is, is the marketing working? If the campaigns that you’re running aren’t generating sales then it’s time to adapt, it’s time to change it.”
Success comes from attentiveness. Much like the many tiny cogs in a clock, every small detail of a marketing campaign plays an important part in its ultimate success. Take advantage of social media to get your message out there to a larger population and build awareness. Keep yourself up to date with technology and marketing trends and use them to your advantage.