Top 10 KPI’s Marketing Metrics for any board meeting to prove ROI
How to bring the best out of your marketing efforts? How to push more leads into your sales channels? How should marketers take better control over revenue process and achieve defined set of goals?
There are numbers of questions that marketers ponder over to bring out solid strategy that can improve upon marketing ROI. Indeed, they need to present the picture in terms of metrics that make sense of chief marketing officers, who like to see growth in terms of revenue and profit.
Let’s ponder over a few of the top ten metrics that attract executive attention:
- Database size by segment: It cannot be denied that customer databases are the backbone to business growth. In order to manage such a huge database, it is good to divide it by segments. It simplifies sophisticated customer data, manages data well and drives in more ROI by building and targeting relevant campaigns.
- Form Abandonment Rate: It is the percentage of people who do not completely submit the form, after opening it. It helps marketers focus on understanding and facilitating the prospects’ buying process.
Form Abandonment Rate (%) = [1 – (total number of forms successfully submitted on the website, divided by total number of clicks)]
- New Website Visitors: It is the measure of new visitors appearing on the site. This element should be integrated into marketing strategy, as it develops revenue growth and maximize ROI.
- Email Bounce Rate: It is a must to keep a check over email bounce rate, as higher the rate, higher the chance of getting the marketing campaign blacklisted. Analyzing it carefully, marketers can create lead generating email campaigns intelligently.
- Email Open Rate: It focuses on the number of engaging customers, thus providing insights to serve the customers better. Marketers can try out different experiments to know what attract customers.
- Email CTR: it helps you know new and unique visitors to the site. In order to have better CTR, email campaign should have compelling content, call to action, etc. marketers can use this metric to target email campaigns better.
Click-Through Rate (CTR) = # of click-throughs / # of messages delivered.
Adjusted Click-Through Rate = # of click-throughs / # of messages opened.
- Conversion Rate: It is the measure of number of visitors converting to customers. It helps marketers know about the percentage of revenue generated by marketing efforts. Conversion Rate = # of sales / # of visits
- ROI: It is the most common profitability ratio. It helps companies to know what works better. One can get a clear picture of how marketing initiatives are performing through such metrics.
- Customer Acquisition Cost: It includes expenses that are incurred to convince customers to buy products or services. Cost to acquire customers and lifetime value of a customer are two of the important variables that are taken into consideration.
- Program Performance: it is an important metrics that provides cost benefit analysis and process evaluations. It could be used intelligently to improve upon effectiveness and increase efficiency.
Are you worried about attracting their attention? If such is the case, include the above stated top ten metrics that could clearly present the picture of marketing initiatives and highlight the growth prospective.