If you were a fly on a wall in a marketing meeting, we’re confident the term ‘KPI’ would come up a few times. But, without context, KPIs can be confusing — to both seasoned executives and their fly colleagues. There are many reasons why you should wrap your head around KPIs, but the most important one is that they help businesses gauge their marketing performance relative to their strategic goals.
This guide will highlight the indicators all levels and types of marketers should pay attention to.
Marketing KPIs, or Key Performance Indicators, are quantifiable metrics used to evaluate the performance of a marketing strategy. In easier-to-understand terms, they measure the success of marketing efforts, validating progress and providing valuable feedback.
While there are dozens of KPIs for marketing, the three most widespread are:
Different KPIs are also used in content marketing, social media marketing, digital marketing and many more roles, which we’ll delve further into below.
Like OKRs (Objectives and Key Results), good KPIs are meaningful, align with a brand’s direction and are SMART (Specific, Measurable, Achievable, Relevant and Time-Bound). They’re a stable set of measures that allow you to observe short- and long-term marketing progress. OKRs, however, change quarterly and align to a specific objective rather than department.
It’s easy to confuse the two, but the most important thing to remember is that the purposes of OKRs and KPIs are different. While KPIs monitor the health of your business, OKRs strengthen specific areas of your business.
The marketing KPIs you track will vary depending on your department. Each team has a different role to play, which means they also have different KPIs to observe. A social media coordinator will look at impressions and clicks, whereas a content marketer will focus on page views. PR specialists will monitor brand mentions and SEO managers hone in on organic traffic.
Let’s break it down further.
Here are a few KPIs to evaluate your digital marketing campaign’s progress:
To monitor your email marketing campaigns, here are some baseline KPIs to track:
Here are a few essential KPIs to help track the progress of your content marketing campaigns:
These KPIs can help you measure your social media marketing success:
Here is a selection of core KPIs to track the progress of influencer marketing campaigns:
So, should you use OKRs or KPIs in marketing? Like any proud parent, we can’t choose. Both systems are successful and collaborative when implemented well. Knowing your organisation’s KPIs will make OKRs-setting easier, as there are many similarities between Key Results and KPIs. The OKRs framework can level up KPIs by enforcing regular check-ins to keep track of progress.
OKRs software like Tability will improve the visibility of your marketing efforts and allow you to track your objectives, key results and KPIs in one place. Take a test drive and try Tability for free today.