By Suraj Jha on Sep 22, 2021
As marketers, we know marketing strategies require testing and constant tweaking to deliver the best results. Analytics tools, dashboards and marketing software can help you measure your clients’ digital marketing efforts on a wide range of key performance indicators (KPIs). These various metrics show successes, shortcomings and how a business’s marketing efforts impact its goals. Yet 87% of marketers consider data their business’s most underused asset. Are you one of them?
Reviewing data and monitoring KPIs can create a data-driven approach to your marketing services. This allows you to make strategic decisions and changes regarding your client’s campaigns. Gone are the days of just throwing spaghetti at the wall and seeing what sticks. According to Google, two out of three marketers agree that data-based decisions are more effective than gut instincts.
With so much data available, though, it can be easy to get lost in a sea of numbers. To build a marketing agency, you need to focus your time and resources on the data that shows growth, positively impacts your client goals and proves your value. Keep reading for insight into which KPIs you should be monitoring and how this data can help you and your clients grow.
Determining which KPIs to watch, of course, depends on your goals. You can set goals with your clients as well as set internal goals with your team.
For example, when it comes to marketing, some of the most important metrics are a business’s ROI and customer acquisition. Clients want to know that your agency is delivering value and growing their business.
However, while knowing how much revenue is being generated is important, it’s also important to know what marketing channels are performing well and which ones need attention. For example, organic search might be showing a high ROI for a particular client, proving that their investment in your SEO services was a good idea. Reviewing and understanding a range of key performance indicators and data can help you focus your efforts and provide better recommendations to your clients when it comes to their marketing budgets. To make it easier, we have broken down 15 must-monitor KPIs into three categories:
One thing to remember is that CTR will vary across marketing channels and industries.
Of course, your client’s industry benchmarks may be higher or lower than these averages but researching industry averages can help you establish baseline goals for your client’s marketing campaigns.
To build an online business, the conversion rate is a significant KPI to measure. Understanding what percentage of users are taking action enables you to gauge the success of a site or campaign and identify areas for improvement.
Since Google wants to deliver the best experience to users in search results, Core Web Vitals are also considered ranking factors and can positively impact your client’s SEO efforts.
These are just some of the many data points available to businesses that can help them grow. While these KPIs are essential to an overall marketing strategy, you need to work with each client to determine their goals and what metrics can help you get there.
With goals and KPIs in place, you have to monitor them with analytics tools on a regular basis so you can compare results with goals and make adjustments as needed. The most common tool for tracking KPIs is Google Analytics. When set up with goals and tracking data, Google Analytics can collect data on website performance, behavior flow, conversions and more. Plus, Google Analytics integrates seamlessly with other Google services, including Google Ads (paid advertising) and Google Search Console (search analytics).
Many of the KPIs mentioned above are specific to your client’s website and marketing, but each marketing channel can also provide specific data. For example, Facebook, Instagram and other social media platforms offer their own analytics and insights to show businesses traffic, clicks and engagement.
It takes knowledge and expertise to build a marketing agency, and you don’t have to do it alone. At Umbrella, our focus is on growing marketing agencies. You can leverage our expertise to increase the ROI for your clients. Contact us today to learn how we can help you help your clients.
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