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KPIs to Inform Your Marketing Campaign

Key Performance Indicators (KPI’s) are a critical stage when implementing a measurable and effective marketing campaign. You should use any analysis you have done to develop the metrics and objectives for the next campaign you run. This will help you to understand what is achievable when looking for areas for improvements.
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How often do you set yourself goals that despite your best intentions, somehow seem to drift away from you. Perhaps your ambitions were too vague, or without a deadline, you lacked motivation. If you’re serious about achieving your objectives, consider making them SMART.
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This is a simple process to ensure your goals are: Specific, Measurable, Achievable, Relevant, Timed. Setting SMART goals helps you clarify your ideas, focus your efforts and use your time and resources productively, increasing your chances of success. Let’s look at this one-by-one. Specific. The more precise your goals, the easier it will be to determine success. You should ask yourself, what do I really want to accomplish? Why is this important? What would I consider to be a successful outcome? Measurable. If you’re outcomes are too vague, how will you know, when you’ve achieved them? Setting your metrics for success will help you monitor your progress and stay focused and motivated.
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So make sure your objective state, the metrics you will be monitoring, and the goal you’re setting yourself.
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Achievable. Yes, it’s great to be ambitious, but your goals also need to be realistic and attainable. While high targets might be initially exciting, you’ll soon lose motivation, if they start slipping away from you. Ask yourself, is this realistic? Am I the best person to do this? Relevant. This test is about making sure you are focusing your energy where it’s needed. If you’re not sure, ask yourself, does this seem worthwhile? Is this outcome really within my control? Time bound. Every goal needs a deadline to help you to plan and prioritize effectively. Setting this will help you pick your priorities, and stop other tasks getting in the way. Work this out by asking, when do I need to achieve this by?
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How long will it take me to complete?

Key Performance Indicators (KPI’s) are a critical stage when implementing a measurable and effective marketing campaign.

You should use any analysis you have done to develop the metrics and objectives for the next campaign you run. This will help you to understand what is achievable when looking for areas for improvements.

First, a KPI should be linked to a SMART objective:

  • Specific: Be very specific about what is required
  • Measurable: How we are going to measure if we have achieved it?
  • Achievable: Everyone signs up to the delivery of the objective
  • Realistic: Focuses on an outcome, not individual steps
  • Timed: A date when it should be completed

KPIs Keep it Real

The KPI(s) can help with the ‘measurable’ and ‘realistic’ elements. It will also ensure that the activities support the delivery of the objective, weeding out any activities that are not relevant.

The role of the KPI is to ensure that you understand how well you are delivering your objective, and when you have achieved it. As such, you should resist the temptation to make it really ambiguous.

Use Multiple KPI(s)

An over-reliance on a single KPI can often be to the detriment of your overall performance. For example, let’s imagine that your objective is to get more customer engagement on your website. So, using page views as your KPI, you set yourself a target of increasing daily page views from 10 to 15.

When you achieve this, you think you’ve attracted loads of new customers. However, it later turns out that you’ve made your website harder to navigate and the additional views were from confused customers struggling to find relevant information.

What we’re trying to say is; always consider whether your KPIs are driving the right behaviour. It’s also good practice, where possible, to link your KPI with another financial objective that can be measured, such as an increase in revenue or profit.

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Introduction to Marketing: Omnichannel Marketing and Analysis

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