KPIs to evaluate the success of your business online

In today’s digital world, measuring the performance and success of online strategies is critical to the growth and profitability of any online business. Key Performance Indicators (KPIs) are key metrics that allow marketers and business professionals to evaluate the impact of their actions and make informed decisions. Here are the 7 essential KPIs (marketing, social media, e-commerce, web analytics, leads, email and SEO) that every marketer should consider when evaluating online strategies. But first, we should review the term in general.

What are KPIs and why are they important?

The term KPI stands for Key Performance Indicator. With the translation of the name, we can already get a more complete idea about the meaning of KPIs, since they are basically quality metrics or performance counters.

KPIs are the best tool to measure the success of a marketing campaign, your SEO strategy or even your sales, these metrics can help you decide what needs to be changed in your online business and to maintain what is working. These metrics should be specific, quantifiable objectives that are concise, relevant and measurable.

Specifically, your business needs to use KPIs to:

1- Obtain valuable and useful information

2- Measure certain variables and results, such as conversions, new customers, new followers, to name a few.

3- Analyze the information and effects of certain strategies.

4- Compare the information and determine effective strategies and tasks.

5- Make the appropriate decision

The type of KPIs will depend on the area you want to evaluate, but today we present the ones that experts suggest using in the areas of digital marketing, social media, e-commerce, web analytics, leads, email and seo.

1. Marketing KPIs

Marketing KPIs are the metrics that allow you to evaluate the performance of your online marketing activities. Thanks to the result of these numbers, you will be able to evaluate the performance and results of the campaigns that are active. In this area there are dozens of indicators that will help you measure specific points of your strategy. However, experts suggest the following as basic marketing KPIs:

• Conversions: this metric helps you measure how many visits to your website are transformed into a sale.

• Return on investment (ROI): helps you compare the benefits obtained with the investment.

• Cost per acquisition (CPA): how much money is spent to acquire a new customer in your business.

• Customer lifetime value: total revenue a company can expect from a customer’s account.

• Traffic and web traffic: sources will help you know traffic levels and where traffic to your website is coming from.

By measuring these KPIs, you can determine which marketing strategies are working best and optimize your efforts for better results.

2. Social media KPIs

Social media can be your best ally to improve your brand’s visibility and create a community around it. However, achieving a social media strategy with these results, especially in such a competitive digital world, requires a lot of work, creativity, dedication, but above all you need a strategy that helps you to monitor periodically your achievements, so we suggest you implement these KPIs.

Social media KPIs allow you to measure the performance of your social media activities and their impact on your brand. This includes metrics such as:

• Number of followers: how many followers you have on each social network.

• Engagement per post: measures the interactions generated by a post.

• Organic reach: measures the number of people who see your unpaid posts.

• Targeted traffic from social networks: will help you know how many visitors to your website arrived thanks to social networks.

By measuring these KPIs, you can evaluate the effectiveness of your social media strategy and make adjustments as needed to improve your online presence.

3. E-commerce KPIs

E-commerce KPIs are metrics that allow you to evaluate the performance of your online store and customer behavior. This includes metrics such as:

Total sales: will help you know how much you have sold, but it is best if you set different time periods to do the measurement.

Average order value: how much is the average price of your orders.

Shopping cart abandonment: helps you to know how many shopping carts are abandoned.

Customer lifetime: this metric gives you a more complete view of your customers.

By measuring these KPIs, you can identify areas of opportunity to improve your customers’ shopping experience and increase sales in your online store.

4. Web Analytics KPIs

Web analytics KPIs allow you to measure your website performance and user behavior. This includes metrics such as website traffic, page views, bounce rate and average time on site. By measuring these KPIs, you can identify which areas of your website need improvement and take steps to optimize the user experience.

5. Lead KPIs

Lead KPIs allow you to measure the performance of your lead generation activities and the flow of leads through the sales funnel. This includes metrics such as the number of leads generated, the lead-to-customer conversion rate and the average time to convert a lead to a customer. By measuring these KPIs, you can evaluate the effectiveness of your lead generation efforts and make adjustments as needed to improve the quality and quantity of leads.

6. Performance KPIs

Performance KPIs allow you to measure the overall performance of your website and online marketing campaigns. This includes metrics such as site load speed, site availability and site error rate. By measuring these KPIs, you can identify any technical or performance issues that may affect the user experience and take steps to correct them.

7. Email KPIs

Email KPIs allow you to measure the performance of your email marketing campaigns and the effectiveness of your email messages. This includes metrics such as open rate, click-through rate, conversion rate and unsubscribe rate. By measuring these KPIs, you can evaluate which emails are most effective and optimize your campaigns to improve engagement and conversions.

In short, by measuring and evaluating these 7 essential KPIs, you can gain a complete picture of the performance and success of your online strategies and make informed decisions to optimize your marketing efforts and achieve your business goals.