Key Digital KPIs to Measure Channel Performance.
The beauty of Digital Marketing lies in the fact that nearly everything can be tracked and Key Performance Indicators (KPIs) are quite useful metrics to help businesses understand how they are doing against objectives. The right set of KPIs will allow Digital Experts to shine light on performance and highlight areas that need attention.
A good starting point to set realistic target KPIs is to identify your DUMB objectives and what you actually do – your core activities, the products that you make, or the services that you provide. Recently, I have been trying to think of a framework that could identify the important KPIs required to successfully assess your digital activities, and as much as this will vary from sector to sector and business to business, I think there are some key KPIs that we all commonly consider as Digital Marketers.I have listed below some of the key indicators which I consider to be highly valuable and could make a good starting point to measure the performance of your Digital Channels.
When identifying the key High level KPIs, it could be helpful to simplify your growth targets by visitors Volume, Quality & Value
With Volume, these are your targets to reach the mass audience and increase your brand’s digital presence, so your targets would focus would be on site visits, reach, mentions etc.…
Quality on the other hand, is to focus on achieving interaction and conversion with those volumes, so your targets would ideally focus on # of sales, subscriptions, qualified leads, downloads, enquiries etc.…
Value is basically to focus on the £ value, short- term and long-term profit with targets set to achieve the optimum ROI.
However, setting just those indicators is not enough, it is important to recognize both the High level indicators as well as the Granular KPIs that sit within each and every digital channel; they ultimately affect your high level indicators. In the framework, I have listed some of the key KPIs to consider across Social Media, SEO, PPC, Email and the Website. KPIs, however, are not only limited to those listed, there a many more worth considering when measuring success. It is important to pick the vital few meaningful indicators that are relevant for your business.
Hope you find this list useful… feel free to list below any other vital KPIs that you would likely add.
For more information on DUMB objectives, you can also read Avinash Kaushik’s blog for more details > http://bit.ly/1heRzqN