• Brandminds 2020

20 essential KPIs
you should be tracking
to improve your marketing
(updated for 2021)
Part 2

Looking to learn about KPIs and how you can use them to improve your marketing? Then this article is for you!

Check the first part where I talk about the first ten KPIs:

  1. Email open rates
  2. Email click-through rates
  3. Email forward rates
  4. Newsletter signup conversion rate
  5. Social media engagement rate
  6. Social media conversions
  7. New leads generated
  8. Cost per lead
  9. Customer lifetime value
  10. Returning website visitors

Let’s continue!

11. Goal completion rate

Marketers set a goal for every marketing campaign they run. The goal completion rate is a KPI which measures the number of people that complete a specific marketing goal.

How many people subscribed to the brand’s newsletter?

How many people have signed up for your freemium offer?

It is an important indicator of your brand’s ability to influence to get from the awareness stage to the consideration stage in your marketing funnel.

12. Marketing revenue attribution

Every marketer wants to know how much profit their campaigns have generated. The marketing revenue attribution KPI does exactly that: it tracks and credits the company’s marketing efforts with the generated revenue. If you are running mobile campaigns, marketing revenue attribution can prove to be a challenge. This platform helps you.

13. Customer acquisition cost (CAC)

Do you know how much it costs your company to acquire a new customer?

As a business person and a leader, it’s one of the most important numbers you should be aware of.

This KPI can be calculated by dividing all costs spent on acquiring new customers (advertising spend, the marketing and sales department salary costs) by the number of customers.

Now that you know what your company’s CAC is, if it’s too high, you can start looking for ways to lower it.

14. Landing page conversion rates

Your team has designed a beautiful landing page for your company’s latest offering of products or services. And you are running a campaign to send leads to that landing page with the goal of converting them to customers.

The landing page conversion rate KPI shows the performance of the landing page.

If the page has a poor conversion rate, analyze it to see if the graphics and the copy can be improved.

Check this piece on landing page optimization: 34 landing page optimization tips to create a highly converting landing page.

15. Traffic-to-lead ratio

This KPI tells you how many of your website visitors convert to leads.

First, you need to establish what exactly means a lead for your brand.

What do you want your website visitor to do? Depending on what your company offers through its website, it could be anything from newsletter subscribing, downloading a PDF paper, answering a survey or registering for a 7-day free product subscription.

If this ratio is unsatisfactory, one of the main questions you should ask yourself is Are you attracting the right people to your website?

16. Lead-to-customer ratio

Now that you have established the traffic-to-lead ratio, the next step is to establish the lead-to-customer ratio.

From the total number of leads, how many convert into paying customers? How many push the Buy button?

What are you doing to convince them to become customers?

Are your leads qualified? A qualified lead is someone who could become a potential customer to you, based on criteria and identifying information that they have freely provided.

17. Customer retention rate

The customer retention rate indicates the brand’s ability to serve and satisfy its customers so well over a given period of time that they have become loyal. It’s every brand’s dream: customers that are happy to continue to do business.

If this KPI is high, then you are doing something right. You may also consider designing a brand ambassador program as your next step. We all know that acquiring new customers is more expensive than retaining existing customers.

18. Content downloads rate

Downloadable content is usually hosted on a landing page as a lead magnet. It helps marketers establish if the content is relevant to the page visitors and the copy is effective. The visitor who downloaded the content is now a lead and the brand can begin a conversation which would eventually result in a sale.

19. Referral traffic

Directing people to your website is hard work and it usually takes 6 to 12 months to see results. Referral traffic is one of those results and describes the people who come to your website from other sites, without searching for your brand on Google. It could be a link on your social media post, or in a blog published by one of your clients. If they are linking back to your website it means your content was helpful to them which in turn helps your brand increase awareness and domain authority.

20. Net promoter score

When we are satisfied with a product or service, we recommend it to our friends and family. It’s one of the most powerful ways a brand can attract customers – word-of-mouth marketing.

The Net Promoter Score assesses the customers’ overall satisfaction and calculates the likelihood of recommending a company or its products.

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