Marketing can transform businesses in relatively little time. The myriad of disciplines you can tap into to drive return on investment (ROI), organic search visibility, and the number of qualified leads is endless.
While all these are brilliant, if their performance can’t be measured on a regular basis, then what’s the point? That’s where marketing KPIs come into play. These indicators are an extremely helpful way of defining what success looks like in relation to your overarching business goals.
These indicators are manyfold and entirely different for each and every company.
To help you get an idea of what they are and the types that are out there, we’ve put together a list of KPIs. This exhaustive list of online marketing KPIs should help you more accurately track performance over time – be it 6 months, a year, or longer!
We’ll also look at what they are as a concept, as well as offer some tips about which ones you should keep an eye on in your marketing department over the coming 12 months.
What Is A Digital Marketing Key Performance Indicator?
Before we help you with your digital marketing efforts by listing out every possible KPI, let’s first look at what one actually is.
Standing for Key Performance Indicator, the clue to what a KPI is is in the name – it’s a way of measuring how a marketing campaign is performing. Selecting the right indicator is all dependent on your department or business’s overall goals though.
For instance, if you’re a small start-up business looking to breakthrough in the eCom world, your initial way of measuring if your digital marketing performance is successful is via the number of sales qualified leads or online sales you make across a 6 month period. After all, high sales are going to set you up for the long term, and allow you to establish yourself.
On the other hand, if your company is in leasing, is well established, and sales are consistent, you may start to consider a lower cost of customer acquisition as a more relevant indicator of success. These are just two off-the-cuff examples, as you’ll see when we go through the list, there are hundreds of different scenarios where different data points provide the necessary insight for you to determine whether the impact of your marketing strategy has been effective and real.
In broad terms, there are often two types of performance indicators – high-level, and low-level.
High-level indicators are ones that apply to the entire business and could be used to define success beyond the marketing team and to the wider company as a whole. Examples could include overall turnover, the response time for employees responding to customer enquiries, or their market share for their industry. High-level performance indicators are designed to ensure everyone has some overarching business goals that they all pull toward achieving via their own department.
The lower level KPIs are usually more departmental in nature and are to be achieved by each team, with the idea being if they achieve those, the high-level ones will look after themselves.
What’s the old saying? Look after the pennies and the pounds look after themselves.
For instance, a Marketing team could have a KPI to increase the follower count on their social media channels by 10% in 6 months. Or, the Sales team might have a goal to have packed sales funnels, full of qualified leads over a certain retainer value by the end of a quarter.
Here’s how other’s define what a key performance indicator is:
- “A way of measuring the effectiveness of an organization and its progress towards achieving its goals.” – The Macmillan Dictionary.
- “A set of quantifiable measurements used to gauge a company’s overall long-term performance.” – Investopedia.
- “A quantifiable measure used to evaluate the success of an organization, employee, etc. in meeting objectives for performance.” – The Oxford Dictionary.
- “A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages.” – Wikipedia.
- “KPIs are performance indicators that give you a way to measure your business’ progress against your most important strategic objectives.” – Monday.com.
48 Key Performance Indicators For Digital Marketing
Here are 48 digital marketing metrics and performance indicators for you to use and plan into your next digital marketing strategy:
- Customer Acquisition Cost
- Customer Lifetime Value
- Margin Per Customer
- Conversion Rate
- Bounce Rate
- Click-Through Rate
- Exit Rate
- Retention Rate
- Churn Rate
- Audience Growth Rate
- Shopping Cart Abandonment Rate
- Completion Rate
- Email Click-Through Rate
- Engagement Rate
- Organic Traffic
- Mobile Traffic
- Online sales
- Inbound Links
- Broken Links
- External Website Links
- Newsletter Subscribers
- Landing Page Visitors
- Social Followers
- Keyword Rankings
- Average Session Duration
- Customer Retention level
- Customer Satisfaction KPIs
- Contact Rate
- Hit Rate
- Conversion Time
- Marketing Qualified Leads
- Sales Qualified Leads
- Cost Per Lead
- Number Of New Customers
- Upsell and Cross-sell Rates
- Social Media Return On Investment
- Return On Ad Spend (ROAS)
- Average Order Value
- Follower Growth
- Referral Traffic
- Event Attendance
- Website Traffic to Website Lead Ratio
- Landing Page Conversions
- Blog Traffic
- Top 5 Entry Pages
- Opportunity-to-Win Ratio
- Backlinks And Referring Domains
- Domain Authority
To help, we’ve just outlined some of the broad types of metrics that you can categorise the individual metrics into at your own leisure.
- Email Marketing Metrics – self-explanatory but these indicators are anything to do with email marketing, it could include open rates, click-through rates, or the unsubscribe list.
- Social Media Metrics – covering about half a dozen main social media platforms, these can be things like follower count, customer response rate (I.e. how fast you reply to someone’s DM), or social share which covers how many people share your content.
- SEO and Organic Traffic Metrics – Broadly, these cover all the metrics that surround the natural, organic, way that people visit your company’s website. We’ll touch on more of these below.
- Conversion Metrics – Traffic and leads etc are all well and good but if they don’t convert into cold hard cash, then they are futile, essentially. These indicators could include cost per conversion and landing page conversion rates.
- Paid Advertisement Metrics – Covering marketing activity that involves paying to appear on people’s search engine results pages or in their feeds, paid ad metrics are a handy way of controlling spend and keeping within budgets.
Most Important Digital Marketing KPIs In 2022
We like to think of ourselves as SEO and digital marketing experts here at Embryo so we thought we’d pick out some of the most important digital marketing KPIs for 2022. In no particular order, they are:
- Social Shares: Someone sharing your content is increasingly becoming one of the best ways of measuring the effectiveness of your digital marketing campaigns – be it a social media post or blog post. Why? Well, sharing something to your feed or to your friends shows that you think it is of value and is worth being seen by others. Plus, sharing takes far longer than simply tapping twice or leaving a few emojis as a comment.
- Core Web Vitals: Google’s Core Web Vitals (CWV) are one of the most important ways that the search engine giant rates how valuable your site is going to be for the user. Good CWVs involve having a fast loading website which is mobile friendly that can react well to user inputs, among other things. Measured out of a score of 100, it’s vital that your business has CWV that are in the 70+ region.
- Overall Organic Visibility: From a high-level KPI and SEO perspective, overall organic visibility is one of the best ways of figuring out how visible your business is online. There are lots of intricate SEO metrics but this one is the best when you’re after a birds-eye view. This metric takes into account all the keywords you’re indexed for, the backlinks, the domain authority, all sorts, basically.
What Not To Track
There’s a good rule here, and it’s an important one to understand given there are so many types of indicators and data points that could be poured over and analysed.
The rule is this: “If the metric you’re looking at isn’t something you can affect, or act on, it’s not worth looking at in the first place.”
How To Choose The Right Ones To Track
The first thing you need to consider when choosing your digital marketing KPIs is what exactly you want to measure. If you have a clear idea of what you want to achieve from your digital marketing efforts, then selecting the right metrics will make sure you get there.
For example, if you want to know whether your audience likes your new product design, then you might look at the number of shares or comments you receive on an image of your new product. But if you want to know how well your website converts visitors into sales, then you should focus on the number of conversions rather than just the number of shares or views.
As we’ve seen, there are at least 48 different types of digital marketing metrics so it’s important to understand what you want to measure before you start gathering data.
Interested In Improving The Metrics That Matter To You? Get In Touch
No matter what your key performance indicators are, we’re confident our paid and organic strategies will bring you success.
Speak to our team on 01613272635 or email us at email@example.com.