Anyone who works in digital marketing uses KPIs, also known as key performance indicators. Put simply, a KPI helps you indicate whether you are achieving a desired objective. KPIs are great at helping you track whether or not you are reaching your designated goals and are still on the right path.
Important KPIS For Running Campaigns
- Conversion Rate: This is basically how many people performed a certain task. Examples include how many made a purchase, how many downloaded a pdf or how many signed up for a newsletter. Conversion Rate = Conversions / Total Clicks
- E-commerce Conversion Rate: This measures how many visitors are marking a purchase on your website. E-commerce CR = (transactions / visits)
- Return On Ad Spend: How much you are spending in advertising to how much you are earning in sales. ROAS = (Total Revenue / Total Spend)
- Retention Rate: How long are customers staying with your site vs dropping off? Retention Rate = ((Ending Customers – New Customers)/Starting Customers)) X 100
- Pages Per Visit: Use an analytics tool to measure how many pages customers visited during their visits on average.
- Engagement Rate: Often used within social media channels, this is a metric showing how many people are actively engaged with your posts including sharing such as likes, clicks, and more.