10 success KPIs your marketing team should be tracking

Key Performance Indicators (KPIs) are measurable metrics that provide a clear and quantifiable view of a business's performance and success. These indicators, ranging from conversion rates and customer satisfaction scores to website traffic and return on investment, can guide business decisions and help to improve various aspects of the business.

For example, if there are high impressions but the conversion rate is low, it could mean the marketing message doesn't resonate well with the target audience or the call to action is unclear. This insight will allow the marketer to resolve those issues to boost conversion, ultimately measuring achievements.
But with so many KPIs for businesses, which of them should your marketing team be focusing on?

1. Conversion Rate

The first KPI that should be on a marketer's radar is conversion rate. How many people who read/view your marketing content go on to buy? Two out of a thousand, or two out of ten? While it's almost impossible to have everyone who comes across your ad buy from you, you still want the number to be considerate. If your website is buzzing with visitors, but no one is buying, it means you are wasting your resources. A high conversion rate means your website is the place to be.

2. Customer Acquisition Cost (CAC)

How much does it cost you to make a new customer? This is your customer acquisition cost (CAC). It's the total cost of acquiring a new customer, from the first hello to the final sale. You'll want your CAC to decrease over time, meaning you spend less to acquire customers. It means your marketing is efficient and effective.

3. Customer Lifetime Value (CLV)

Building relationships is what marketing is all about. CLV measures the total value a customer brings to your business over their entire relationship with you. It's not just about the first date; it's about building a lasting connection that keeps them coming back for more. As a marketer, you must learn how to increase customer lifetime value, as this will eventually reduce your customer acquisition cost. Rather than putting in money to find new one-time customers, you'll want to build a solid relationship with your existing customers so they'll keep on buying from you continually, possibly even recommending you to their friends.

4. Return on Ad Spend (ROAS)

Paid ads can feel like a dazzling fireworks display – but is it money well-spent or just a flashy spectacle? ROAS is your backstage pass, revealing the revenue generated for every dollar spent on ads. A ROAS of 5 means you're turning $1 into $5 – that's the kind of marketing that turns heads.

5. Social Media Engagement

Social media engagement is a KPI you should monitor if you do social media marketing. Those likes, shares, and comments are how you know your post is performing well. It's the heartbeat of your online party, indicating how well your content resonates with your audience. Think of it as a standing ovation for your brand's performance in the vast social media theater.

6. Website Traffic

Your website is your brand's online home, and website traffic is the entrance where guests arrive. Monitoring overall visits, unique visitors, and page views gives you a peek into the popularity of your website. A bustling entrance means your brand has good awareness. Speaking of which…

7. Brand Awareness: When They Think Toothpaste, Do They Think Your Brand?

Building brand awareness is like getting your brand's name on everyone's lips. This KPI goes beyond recognition; it checks if your brand is the first thing people think of when they need the kind of product or service you provide.

8. Email Click-Through Rate (CTR)

Email still has that “it” factor. CTR measures how many users are clicking on links in your emails. High CTR? Your emails are basically what your target audience is looking for.

9. Lead Generation

Leads are the lifeblood of your business. This KPI tells you how successful you are at getting potential customers interested. Keep your lead generation top-notch, and your sales funnel will be popping.

10. Customer Satisfaction (CSAT)

Last but definitely not least is the CSAT KPI. How happy are your customers? How many positive reviews do you have compared to the negative ones? What's your average star rating? A high customer satisfaction score means your customers are happy with your product or service, and who doesn't want that?

Wrapping Up

So there you have it – your ultimate guide to marketing KPIs. KPIs offer actionable insights that empower businesses to optimize their strategies, allocate resources effectively, and foster continuous improvement in various aspects of their operations. So if you're looking to optimize your marketing efforts, you ideally should keep your eyes on the KPIs discussed above.