Marketing objectives and KPIs

How to define your marketing objective and establish KPIs

Before you can start to build a campaign, you need to know what the end goal will be. Is it to get more traffic to your website? Increase brand awareness nationwide or increase conversion/leads?

Your objective will become your anchor as you move forward through each stage of your marketing campaign. Every plan and task will be to help you reach your objective, so it is important to have this nailed down right from the start.

How do you begin to decide on a single objective? You may want to focus on multiple objectives, but it’s important to not over complicate your strategy.

What are you looking to achieve with your marketing?

The first step is to decide what your business needs in order to grow in the present moment. A short term goal is best to help you retain full control and focus.

Would your business benefit from:

  • Brand Awareness
  • More website traffic
  • More conversions or leads
  • More social media followers
  • More content engagement

Once you have established a short term goal, you can start to work backwards and build your strategy.

The best marketing strategies focus on smaller goals in service of the bigger picture. This method allows for all of your time and energy to go towards quick wins, which all take you a step closer to your bigger goals.

Choosing your platforms based on your objective

If you’ve ever set up Facebook advertising, you may have come across the different types of objectives and how that effects the type of delivery your ads receive.

Your objective dictates what type of platforms and placements are best for your marketing efforts. You need to ensure your message in positioned so as many relevant people as possible pay attention.

The placement of your marketing can be a big deciding factor when it comes to whether you will meet your objective. Here are a few ideas of the different placements and which objectives they are best suited.

ObjectivePlatform
Brand AwarenessGoogle Display Ads
Image/Video Social Ads
Bus Backs
Billboards
Print Advertising
Content Marketing
Website TrafficGoogle Search Ads
Social Ads – In Mail, Sponsored Content
Link Building
Sponsored Blog Posts
Organic Social Posts
Email Marketing
Conversions & LeadsLead Gen Ads – Social Media
Google Search Ads
Email Marketing
Social Followers & Engagement Page Like Ads
Organic Social Posts

You should also keep in mind that these can all be used together in one sales funnel. You may start with a brand awareness objective, then move onto a website traffic objective, then a conversion objective.

Using a sales funnel like this will allow you to really hone in on the audience that is most likely to work with you or buy from your business. Re-targeting ads are great for this, as you can use quantitative data in order to create a quality audience.

Deciding on the KPIs that best indicate the performance of your campaign

The KPIs (key performance indicators) for your campaign will allow you to accurately track whether your marketing efforts have been a success or not. These should be set at the same time as your marketing objective.

Your KPIs should be broken down into weekly or daily goals, to allow you to see whether things are running smoothly, or if they need re-working. Small changes to your campaign as you go can make a huge difference, so keeping on top of your campaign data and reports is crucial.

Some examples of KPIs are:

  • Website sessions
  • Bounce rate/Time on site
  • Organic website visits
  • Phone calls
  • Email newsletter sign-ups
  • Emails
  • Search engine ranking
  • Sales/Orders
  • Enquiries

The starting point for your KPIs should be your current data. Make a note of it and then add 10-15% onto that number to get month 1’s KPI. Once you have month 1, add another 10-15% onto that number for month 2 and continue that process for as long as your campaign runs.

This will help give you a visual representation on what numbers you are aiming for. You can also add formulas to help you track how far off your goals you are, so you know when you need to give your campaign a boost.

We know that the planning and tracking of a campaign can be time consuming, especially for an internal marketing team. If you need some support with your next marketing campaign, get in touch at info@walshandbeck.nz