You probably know where you want your business to be in the medium and long-term, but have you formalised the marketing steps you need to take to get there? Setting clear (and realistic) objectives, e.g. increasing sales via organic traffic from X to Y, will help determine the best tactics to use to hit your goals.
In order to successfully track and measure your progress and results in all areas of digital marketing, you'll need to decide on the most important measurements in relation to your specific objectives.
Knowing what KPIs to measure
Once you have your overall objectives nailed down, you can decide on the types of marketing activity that will help you reach them. For example, if you're looking to increase sales via organic traffic, you'll need a rounded SEO strategy to increase your organic visibility, which will include technical SEO, content and earning links to your site. Once you know what your methods will be, you can start to set KPIs.
KPIs related to this type of activity could include:
- Increasing organic traffic to campaign pages from A to B
- Achieving X links from relevant and high-quality sources across 4 months
- Number of sales transactions from C to D
The specific KPIs you choose will vary, depending on the type of activity you're planning, but they should always feed into your main objectives in order to keep the campaign on track.
TOP TIP:Benchmark your KPIs before you start any activity
This might sound obvious, but it's actually very common to get so carried away with putting a new marketing strategy into action, that the fundamental ways to measure success are not put in place first. Make sure you know exactly where things stand before you start, have any relevant analytics goals set up, ecommerce tracking in place, demographics information is being collected and events are firing correctly. If using Google Analytics, creating annotations when a stage of the campaign is launched can help you pinpoint important stages of progress and any peaks or troughs that follow. Setting up attribution models so you know which channels are doing what, is also vital.
For more information about setting KPIS or indeed info on any of our digital marketing services, feel free to get in touch today on 0800 011 9715 or visit Fashion Digital Marketing.
If you have a business in the financial sector and would like to up your marketing game or receive some expert information about digital marketing for financial services, then get in touch with a member of our team!
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