Having a good marketing strategy is essential to guarantee the success of a business. That's why every company must systematically analyze all the parameters that have a close or distant relationship with their marketing approach. Today, many companies use KPIs to effectively measure the marketing performance of their business.
The KPI: an effective marketing performance indicator
The KPI or key performance indicator is an element that allows you to measure the marketing performance of an activity. In general, it is a quantified element that must be defined beforehand, the purpose of which is to correctly evaluate the results of a campaign or a marketing action. Thus, to ensure its effectiveness, a KPI must be put in place before the start of the marketing action. It can be for example a quantified quota, a precise objective which will be used to measure the success of this action and to confirm or not a good return on investment.
The different types of KPIs
Today there are several tools that allow you to evaluate the performance of a marketing strategy. For an e-mailing campaign, for example, the KPIs used to measure its success are the rate of opening of e-mails, the number of clicks, the percentage of unsubscribing. On the other hand, if a marketing action is carried out via e-commerce sites, the indicator of success will be the number of sales over a defined period or the number of requests for quotes. A marketing campaign can also be carried out on social networks with the number of likes and followers, the rate of sharing of the publication, the number of clicks and views as key indicators.
KPI: the best way to optimize a marketing strategy
If you want to optimize your marketing strategy to the maximum, you must use a key performance indicator, but not just any one. Knowing that there are several types of KPIs, the first thing to do is to define your needs, your objectives and the expected results. Is it about branding or buying? You have to know how to ask the right questions in order not to make a mistake, because for each type of marketing campaign there is an appropriate KPI. For example, there are applications such as Google Analytics, SEMrush, Hubspot but there are also targeted audits, churn rate, attrition rate for CRM. Regardless of the KPI used, the objective is always to effectively measure the impact of all the marketing actions implemented, you just have to choose those that are the most relevant for each marketing action.