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What is a KPI, and what stats should I track to measure the success of my digital marketing campaigns?

Key Performance Indicators (KPIs) are essential metrics used by small business owners to measure the success of their digital marketing campaigns. KPIs allow businesses to evaluate the effectiveness of their marketing efforts and make informed decisions on how to optimise future campaigns.

In this article, we will discuss what a KPI is, the types of KPIs small business owners should measure for their digital marketing, and how to use KPIs to inform and optimise future campaigns.

 

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What is a KPI?

A KPI is a measurable value that demonstrates how effectively a business is achieving its key objectives.

They are often used to track progress towards a specific goal, such as increasing website traffic, generating leads, or improving social media engagement. By tracking and measuring KPIs, small business owners can gain valuable insights into the effectiveness of their digital marketing efforts.

 

Types of KPIs for Digital Marketing

Small business owners should measure a variety of KPIs to evaluate the success of their digital marketing efforts. And here are some examples of KPIs that can be used for social media and paid ads:

  1. Impressions: Impressions refer to the number of times your social media content or ad is displayed to users. This KPI can help you understand how many people are seeing your content and how frequently.
  2. Reach: Reach refers to the number of unique users who have seen your social media content or ad. This KPI can help you understand how many people are being exposed to your content.
  3. Engagement: Engagement refers to the level of interaction users have with your social media content or ad. This can include likes, comments, shares, or clicks. This KPI can help you understand how your audience is responding to your content and how engaged they are with your brand.
  4. Conversion Rate: Conversion rate refers to the percentage of users who complete a desired action. Examples include making a purchase or filling out a form, after clicking on your ad. This KPI can help you understand how effective your paid ads are at driving conversions.
  5. Cost per Click (CPC): CPC refers to the amount of money you are paying for each click on your paid ad. As a result of tracking this, you understand how cost-effective your ad campaigns are.

 

Using KPIs to Inform and Optimise Future Campaigns

Once you have measured your KPIs, it is essential to use them to inform and optimise future campaigns. So you can get started, here are some ways to use KPIs to improve digital marketing efforts:

  1. Identify areas for improvement: By tracking KPIs, you can identify areas where your digital marketing efforts are falling short. For example, if your engagement rate is low, you may need to re-evaluate your content strategy.
  2. Set goals: Use KPIs to set specific goals for your digital marketing campaigns. For example, if your conversion rate is low, set a goal to improve it by a certain percentage in the next quarter.
  3. Test and refine: Use KPIs to test and refine your digital marketing campaigns. For example, if your CPC is high, test different ad varients or targeting options to improve the CPC.
  4. Make data-driven decisions: Use KPIs to make data-driven decisions about your digital marketing strategy. For example, if your reach is low, consider investing in paid social media advertising to expand your audience.

Conclusion

KPIs are essential metrics for small business owners to measure the success of their digital marketing campaigns. As a result of tracking and measuring KPIs, businesses can gain valuable insights into the effectiveness of their marketing efforts. This in turn helps us make informed decisions on how to optimise future campaigns. 

By understanding the types of KPIs that are most relevant to social media and paid ads, small businesses can save money, time and produce better results from their marketing efforts.

Want to find out more, or get some expert help with building your social media following, social media management, or hashtag strategy?

Send us a WhatsApp message on 07747740760 or email eve@fantheflames.co.uk and we’d be happy to help! And if you’d like to get some expert help or talk more about how I can help your business grow, feel free to book in for a quick virtual coffee with me HERE.

Contact:

Phone: +44 (0) 7747 740 760
Email: eve@fantheflames.co.uk
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