How is your marketing performing? Not many marketers are actually able to answer this truthfully, not because they don’t want to, but because they lack the right data, facts and Key Performance Indicators (KPIs) to measure against. KPIs are vital to any business in order to analyse what is and what isn’t working. But how do you find out what your KPIs should be? In a recent article on the HubSpot blog, Jesse Mawhinney discusses How to Choose the Right KPIs for Your Business.
Focus on a Few Key Metrics, Rather Than a Slew of Data Points
One of the great things about Inbound Marketing is that you can measure everything with very detailed metrics. Views, clicks, conversions, opens, sends, the list goes on. However, as you begin to identify KPIs for you business you should be aware that less is almost always more. Rather than choosing dozens of metrics to measure and report on you should focus on just a few key metrics.
Quite frankly, if you try and track too many KPIs, you might as well just not track anything at all.
As you can imagine, every company, industry and business model is very different so it is difficult to pinpoint an exact number for the amount of KPIs you should have. Although, based on our experience, in most cases you should aim to identify somewhere between four and ten KPIs.
Once you know what your KPIs are, you will be able to effectively track and analyse your marketing. The data you receive will help you boost your success and give you the information you need to answer the tough questions your boss asks about marketing performance.
For the full article, head to the HubSpot blog here, and if you want to find out more about how can transform your B2B marketing from good to great, download our free ebook below.