How to Set Campaign KPIs
Key Performance Indicators or better known as KPIs are metrics measured throughout a campaign to judge success. Many marketers blow through this stage of planning which is a huge mistake. It is essential before considering any creative or media elements to a campaign that KPIs are set. KPIs should be a measurement that helps accomplish solid business objectives. If its increasing e-commerce sales or increasing the number of users who engage socially with your content, having these objectives will be able to help you decide which vehicles and partners are the most effective.
As you may have noticed above every time I mentioned Key Performance Indicators there was an “S” added, meaning plural! No mater what type of site you have there will be multiple elements you can measure. You may prefer to establish one master KPI on your site that the campaign was initiated to accomplish, such as increased sales of a particular product. There could potentially be many other KPIs set that support that top-level goal. An example for a site that sells movie tickets: newsletter sign-up, social share, watch a movie trailer or search for map directions. All of those would help support the overall business goal of selling more movie tickets.
There is a lot of analysis that is involved with determining how different KPIs help achieve an overall business objective. My suggestion for you is track everything across multiple channels and through analysis determine how each plays a role in your conversion process. KPIs will help you improve future campaigns and will demonstrate to clients/managers that their marketing dollars are producing measurable results.