Marketing’s job is to keep the sales department busy and the advertising campaigns accountable.
This is why marketing literally touches every department in the house.
For good reason.
So, with so many moving parts, it’s very easy to think you have to measure every little advertising related number such as:
What are the most important KPIs for marketing?
Key Performance Indicators (KPIs) in marketing are the most important items that are driving the success of the company. Typical KPIs include: Number of new customers gained, Cost per sale (CPS), Cost per lead (CPL), Return on advertising investment (ROAI), Number of units sold, Total sales revenue gained.
Think of the numbers that a veteran accountant would be most interested in. Accountants don't give a rip about YouTube views, retargeting audience, Twitter follows or advertising impressions. While important, none of these directly affect sales.
The accountant most cares about what goes in and out of the checking account and how they can expect to make some reasonable predictions about future cash flow. This is why the marketing pro works with the accountant, because the marketing pro has a pulse on how well the sales department converts and how advertising campaigns produce.
When we audit marketing departments and uncover opportunities, here are the general KPI’s we start with. While every company is different, and no two accounting systems are the same, here are some very important KPI’s to get started with.
Each of these important Key Performance Indicators is designed to be measured at multiple levels. First, at the highest level to get a company-wide snapshot to make great marketing decisions and measure all marketing campaigns against.
This information will help you to develop your marketing plan, literally giving you some framework for how to compose your marketing mix and your online advertising programs.
For example, if you know that the company has been spending $50 to profitably acquire a new customer, then this is your benchmark to measure all campaigns against.
About Your Strategic Marketing Partner
Sam Hirschberg, MBA, is Your Strategic Marketing Partner in Arizona. Always professional and a delight to work with, Sam is not your typical “marketing consultant”. Unlike most consultants who tell you there is a problem and say, “See you later and good luck!” Your Strategic Marketing Partner knows how to find solutions, execute programs, test and measure campaigns, and how-and-when it’s time to roll-out big! You are invited to call (602) 892-0777 to learn more about Sam’s background on his FREE 9-minute recorded message. For more information about Sam, please visit https://strategicmarketingpartner.com.