Why Are Measurable KPI’s essential to the growth of your business?
Do you measure your KPIs within your business, to gather a clear understanding of what is working and what is not? You need to steadily track your progress to see whether your efforts are successful or not. Imagine you are a marathon runner wanting to run a 10k, in order to do this you will have to set measurable goals and track your progress each week before you decided to run the race, otherwise your efforts would fall flat.
“What you measure you grow”
So, what are KPIs?
A KPI stands for Key Performance Indicator and is a value that you are able to measure to show progress, it's as simple as that. The importance of using KPIs within your marketing strategy is undeniable. Measuring month by month what is going right or wrong with your marketing is going to be fundamental in determining the success going forward. It not only helps you identify the key the good but also what changes need to be made.
A lot of businesses will spend money on making their website and social media platforms look and perform well, but the question is whether that website is helping you meet the business objectives you have set in place. Ask yourself do you know where your leads are coming from? Are you achieving the goals you have in mind? And most importantly are these platforms leading to conversions and sales within your business?
If you’re struggling to determine whether the above applies then you need help setting the right goals and learning to measure your KPIs correctly so that not only can you deliver a marketing strategy that works well for you.
A good place to start is by looking at what quantifiable data you can measure in order to reach the goals you have set for yourself, this way you are able to directly look at whether you are on track and what needs improving so you can get there.
What Data?
You will need to know the following information in order to make adjustments to improve the customer journey and overall brand experience
Where do your visitors come from (what websites, links, etc)
Knowing where you are pulling your customer base from will help you to not only strengthen that base but also look at why you aren’t finding new clients in other areas you have positioned yourself.
Top tip: When looking at your google analytics keep an eye out for ‘acquisition’
How many leads do your marketing channels acquire per month?
Knowing this can help you to adjust your strategy and put more budget and hours spent into the places that ARE bringing you leads instead of doing a little bit of everything. It will also help your marketing performance as a whole.
What are your customers interacting with the most?
Knowing where your customers are interacting and finding value from you is important, you want to understand your customers’ journey fully. By tracking what site pages, social media content, blogs etc your customers enjoy you’re able to duplicate that. But you also are able to understand what messaging you are providing them and build upon that with edits and updates where needed.
Low traffic
Is your site not generating the traffic you would like it to? Let’s look at some of the key steps that can help you to get more eyes on your content.
Call To Action
Call to actions are important, you need to encourage your customers to make decisions based on the information you are offering, give people a ‘next step’ on everything you do. They might look a little like this ‘Enquire today for 10% off’.
Don’t underestimate the power that your social channels have in bringing in new customers and clients, use your social media to stay active and create authentic connections that can in time lead to sales for your business.
Search Visibility
How easy is it to access your business or services online? Use a range of content to help you create keywords that are relevant to your business, this way you can optimise your SEO and make sure that you are placed higher than your other competitors in search. Websites like Google ad, Bing, Ad centre can also do this in a paid-for option.
Top tip: We have a whole blog full of tips on how to do best with google without vast SEO knowledge.
Email Marketing
Create strong emotional email campaigns that speak to your customers, think personal and evoke strong responses by creating headings that are not going to be ignored. Focus on the content in the emails you are sending out and make sure you are solving your customers’ problems, tell them why they need your product or service and include an easy, and simple call to action.
Customer Feedback
Measure customers feedback and seek to obtain it from customers, this is key in improving the services you offer. Collecting customer feedback can be anything from a short survey to a phone call, offer your customers an incentive to take part and they will more than likely do so.
For more marketing tips and actionable advice for the marketing of your business take a look at all of our blogs here, or visit our Director Bethan’s Youtube channel if you prefer to hear your advice in video format.