KPIs and metrics

Marketing Analytics for Business

Sarah DeAtley

Principal Data Scientist

KPIs versus supporting metrics

Key Performance Indicator (KPI): a metric to show marketing impact on the business

Should be 1-2 maximum
Linked to business growth
Directly ties to campaign goal

Supporting metric: a metric to monitor for channel health

Can be several metrics
Relates to marketing engagement
Reflect tactic optimizations

report titled "Financial reports"

report with clicks, impressions, and other media metrics

¹ RODNAE Productions via Pexels ² Stephen Phillips Hostreviews.co.uk via Unsplash

Marketing funnel

illustration of funnel

¹ mohamed Hassan from Pixabay

Marketing funnel: awareness

Awareness or "upper funnel"

Make customer aware of brand
Channels that reach a wide audience like TV or billboards

funnel diagram with top level "Awareness", middle level "Consideration", and bottom level "Decision"

Marketing funnel: consideration

Consideration or "mid funnel"

Channels seen during customer research like display or social media
Evaluate brand as a purchase option versus other brands

funnel diagram with top level "Awareness", middle level "Consideration", and bottom level "Decision"

Marketing funnel: decision

Decision or "lower funnel"

Ready to purchase from brand
Channels that get customer directly to purchase process like paid search

funnel diagram with top level "Awareness", middle level "Consideration", and bottom level "Decision"

Campaign funnel goals

Campaign goals:

Awareness: improve awareness or perception
Consideration: increase research activity on a brand or product
Decision: increase purchase activity

icon of a goal with soccer ball

Campaign measurement:

Awareness: relies heavily on surveys
Consideration: difficult to compare to competitors
Decision: easier to see revenue impact

icon of magnifying glass

Campaign goal KPIs

Awareness:

Awareness or perception (surveys)
Audience reach (impressions)

Consideration:

Traffic (visits to website)
Engagement (social media)

Decision:

Conversions (purchases)
Revenue (average order value)

clipboard and megaphone icons

laptop and social media icons

credit card and dollar sign icons

Campaign supporting metrics

Can this metric improve via small changes in spend?

Will business growth be directly affected by this metric?

Awareness: Cost per mille (1000) impressions, brand term searches

Consideration: Instagram likes, YouTube video views, Cost per mille (1000) impressions

Decision: Cost per Click, ad clickthrough rate

dashboard image

¹ Myriam Jessier on Unsplash

Let's practice!

Marketing Analytics for Business