Well developed and tailored marketing strategies can help your business reach more people, get more customers, and generate more revenue. But the process of creating the right marketing strategy for your business takes time and analysis. By looking at Key Performance Indicators, or KPIs, that result from your marketing efforts, you can determine what elements of your strategy are successfully attracting clientele — and which parts of your strategy need to change. Also to keep your website easy to navigate is essential an can be done with seattle web design.
Here are our top 7 Key Performance Indicators you should be tracking.
1. Sales Revenue
The first KPI to evaluate is a general overview of the success of your current inbound strategy. This can be done by analyzing your sales revenue. How much revenue are your campaigns generating? To accomplish this, you must be sure it define and isolate your inbound marketing strategy from your outbound strategy. Pulling reports and information about the performance of your inbound marketing will then help you to nail down what works well, what barely works, and what isn’t working at all.
2. Website Traffic
By itself, the amount of traffic your website is getting won’t tell you much. However, it is an excellent tool when tracking unique visits to your website, leads and conversions, as well as the sources through which these leads and conversions are being created. Interpreting these results will help you to know what is working and what is failing to attract customers to your site.
One way to to make your website more attractive to users is to optimize it for mobile devices. With more and more people searching and working from their smartphones, having a website and landing pages that are accessible to this audience is a great way to bring more traffic and potential leads to your website.
Analyzing leads can be a multi-dimensional KPI. The most foundational step is to do a basic lead count. Are you getting new leads? If the answer is no, then it is essential you figure out why. If you are, then be sure you know where they are coming from. Knowing what is and is not attracting leads will help you to alter and refine your marketing strategy.
While increasing your lead count is certainly something to be celebrated, real sales don’t happen unless leads transform into customers. Calculating the conversion rate of your leads becoming customers is a critical step in determining the strength of your inbound marketing strategy. Work to refine your sales funnel to carry every good lead to your desired end result: a sale.
This is the perfect time to learn what brought these customers to your website. What part of your marketing strategy brought them to you? Was it social media, a blog post, or an organic search? The answers given from this key performance indicator research will give you an even better idea as to the success of your marketing strategy.
5. Landing Pages
Content development is a great way to attract those seeking information and assistance. Videos, ebooks, blogs and webinars are all great ways to attract leads to your expertice. Interpreting how well these resources are helping your business requires an analysis of your landing page conversions. Invest time and effort in optimizing your landing pages by running split A/B tests for your CTAs, track the results, and use what works best.
6. Social Media
Social media is becoming a very common way businesses can share their content with users. Testing content material on different social media platforms can help you to find out which platforms are more capable of generating more leads. Keeping up on this information can help you know which platforms to spend your time on to get the most reward.
7. Inbound ROI
Just like we started out with a look at the big picture of our marketing strategy using our sales revenue, it is now time to take a look at the returns on investment overall. The technical phrase for this is Customer Acquisition Cost, or CAC. Essentially, ask, “Have the costs of my marketing efforts shown a valuable return in leads and customers?” The way to determine this is simply to calculate how much you have spent on marketing, and divide it by the number of leads you’ve gained. If the results are good, give yourself a pat on the back. If the results are less than good, you now know at least what doesn’t work, and you can go from there to figure out what does.
With so many parts of your inbound marketing strategy to keep track of, things can start getting complex. Our team is here to help. At Fannit, inbound marketing agency, we are skilled at developing powerful marketing strategies and tailoring them to match the business’ they were designed for.