Isn’t the goal of marketing to increase revenue? Ultimately, for commercial companies that might be the case, but there are many factors at play. For most businesses there are incremental steps that will help drive your organisation to achieve its goals. This might start with marketing campaigns that increase brand awareness alongside initiatives to increase conversions. The first step towards finding the most relevant KPIs is therefore to determine what key marketing goals you are planning to achieve.
The most common marketing objectives are to:
- Build brand awareness and thought leadership
- Generate leads and acquire customers
- Engage, add value and nurture customer relationships
Of course, some marketing activities can aim to achieve more than one of these goals. For example, a blog on your website might drive brand awareness and generate leads.
Once you are clear about your marketing goals you can then them to determine the right KPIs to help you measure your marketing performance.