With all the data out there, it can be confusing to know what to measure in marketing. Your marketing KPIs should always map to your overarching strategy, and that strategy will arise from your company’s goals. To understand how KPIs fit into broader strategy, check out our guide to building a 2024 marketing plan.
To simplify tracking, one effective way to decide what to measure is by breaking your marketing KPIs into the four phases of the customer journey. This structure helps assess funnel performance at each stage and reveals where prospects may be dropping off or disengaging. Additionally, you can bring in industry benchmarks to interpret your results and, over time, develop your own historical data for better comparisons.
Let’s break these KPIs down by customer journey stage:
Stage: Attract
- Website or app users
- Pageviews
- Social media followers
- Social media engagement (likes, etc.) — and on which types of posts
- Ad spend
- Impressions
- Click-through rate
- Cost-per-click
- Marketing Qualified Leads (MQLs)
Stage: Convert
- Bounce rate
- Conversion rate
- Sales Qualified Leads (SQLs)
Stage: Close
- Revenue
- Close-ratio
- Cart abandonment
- Checkout abandonment
- Sales cycle (average time-to-close)
- Average deal/order size
Stage: Delight
- Customer retention rate
- CSAT (Customer Satisfaction), such as Net Promoter Score
- Revenue growth, or attrition
- Customer lifetime value
If you’re using a more targeted strategy like Account-Based Marketing (ABM), your KPIs will look a bit different. In this case, you’ll want to measure account engagement by tracking:
- Target accounts
- Engaged target accounts (marketing qualified accounts)
- Opportunity target accounts
- Closed target accounts
We know — that’s a lot of stuff to track. That said, not every KPI is critical to your success. Instead, prioritize the measurements that are truly aligned with your organization’s objectives, and revisit them regularly.”
After all, a lean, strategic list of KPIs gives you a clearer view of how your funnel is working and where you have room for improvement. With the right data, you can cut through the clutter, disregard what’s unnecessary, and move forward with confidence.
Of course, managing this level of KPI tracking can feel overwhelming—especially when time is tight. If that’s the case, we’ve got your back. Consider outsourcing your marketing so you’ll get that information without having to worry about the nitty-gritty of tracking it yourself.
Intrigued? Give us a shout.
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