Marketing your business is an essential part of growing and becoming successful. However, you will also need to measure your success using KPIs, or key performance indicators, which can help you see what is working and what is not working. Some of the common performance indicators that are measured when launching marketing campaigns include:
· Multi-Channel Attributions
· Conversion Rate
Your return on investment is the sales revenue that is brought in with each dollar that is spend on a campaign. This performance indicator can be a highly effective tool when measuring the effectiveness of just about any marketing campaign. When your ROI is high, your efforts were successful.
It can sometimes be impossible to measure the effectiveness of campaigns and marketing separately, which means overlaps are likely to occur. With the right modeling, you could figure out precise numbers and determine your success.
When dealing with franchises and businesses with multiple locations, it can be advantageous to look into multi-location reporting tools and software that give more insight into how locations are performing.
Just as the conversion rates on websites are measured, which is the percentage of users that become customers, campaigns should be measured as well. You can do this by keeping track of how many visitors were attracted by the campaign and how many received your products or services. Your conversion rate can give you valuable insight into the success of marketing campaigns and projects.
Your business needs to market itself in order to maintain relevancy and ensure that the brand is recognizable. It’s easy to begin marketing a business, but it is essential to track the success of campaigns in order to make improvements and attract even more customers. Three key performance indicators to measure include return on investment, multi-channel attributions, and conversion rates.