How do you measure the effectiveness of your marketing actions?

We are all caught up with the rush of everyday life, and sometimes it is hard to step back and take the time to analyze what our actions have actually achieved, which is a real shame! Monitoring and reporting on your KPIs is mission-critical for measuring the effectiveness of your initiatives, fine-tuning your strategies and actioning other drivers according to your results.

If you are reading this article, then it means you know only too well that you cannot plan a marketing strategy and generate a return on investment (ROI) without measuring its effectiveness.

Sometimes we might also feel somewhat bewildered when staring at the sheer wealth of data available for analyzing, and we can quickly lose heart.

This article will give you the main KPIs for measuring the effectiveness of your marketing actions.

Define your objectives

Before you start checking whether your marketing actions are actually working, first define the objectives that you are looking to achieve through those actions.

There are three main types of objective:

• Brand awareness and visibility

This type of objective is aimed at putting your company’s name on the map and enhancing your brand image using visibility-boosting actions

• Traffic generation

This type of objective is focused on generating visits to your website or application

• Lead generation

This type of objective is aimed at creating new business opportunities for your sales force

Once you have set and quantified your objectives, the time has come to define which KPIs you need to analyze.

The different types of KPIs for analyzing

Traffic-related KPIs

These indicators are used to measure your brand awareness and visibility

• Number of unique visitors
• Number of visits per page
• Number of pages per visit
• Number of sessions
• Time spent on the website
• Number of visits per driver
• Bounce rate

KPIs associated with campaign engagement

These indicators are used to measure your community’s engagement with your brand and content

• Number of comments
• Number of likes
• Number of shares
• Number of fans
• Number of mentions

ROI-related KPIs

These indicators measure the return on investment from your actions and the achievement of your objectives

• Number of leads generated
• Number of mature leads (MQLs)
• Number of customers gained
• Revenue generated
• Acquisition cost
• Conversion rate

It goes without saying that you can analyze many other KPIs, but the aim here is to provide you with the main KPIs that you should track for each of your actions.

By setting your objectives before launching your campaign, implementing the right drivers according to your target market and analyzing their performance, you can measure the ROI of your actions and define opportunities for improvement or identify the best performing actions that you can reuse for subsequent campaigns.