Key Performance Indicators (KPIs) are specific, numerical marketing metrics that measure progress toward a defined goal within marketing channels. KPIs are measurable metrics that gauge overall performance over time and are used to evaluate how a company is performing at achieving a certain goal or objective. KPIs are valuable resources to help marketers make informed decisions and validate returns on marketing spend.
Examples of marketing KPIs include unique website visitors, cost per lead, form conversion rate, marketing qualified leads generated, marketing-generated sales qualified leads, cost per sales qualified lead, closing rate, customer retention, marketing return on investment, SEO ranking, event attendance, and more.
When selecting marketing KPIs, it is essential to choose efficient marketing KPIs in accordance with your business needs. Tracking the wrong or irrelevant KPIs won’t drive actionable results and will likely just waste time. In order to choose efficient marketing KPIs, it can be helpful to ask yourself questions such as what is the core business of my company, what are the most important results that support our growth objectives, and do I have the right data to track these KPIs.
Overall, KPIs are important in marketing as they provide targets for teams to shoot for and help ensure that teams are supporting the overall goals of the organization.
