Highly effective marketing efforts move buyers through the buying process on their terms while less effective efforts attempt to move the buyer on the sellers terms – this is no secret.
So, what performance indicators illustrate marketing effectiveness? Should you focus on page views? cick-throughs? deals won vs. lost? hard and soft bounce rates?
You must first ask “Who’s behavior do we need to influence?” – buyers, staff/partners, leadership or shareholders? Secondly, “How do we align these to the needs of buyers?”
Each group of stakeholders requires different marketing KPI’s depending on their role:
• Shareholders: Top level pre-sale, sale, post-sale marketing performance and marketing return on investment (planned, actual & forecasted)
• Leadership: Mid level pre-sale, sale and post-sale metrics used to align top level strategy, buyers needs and staff activities (planned, actual & forecasted)
• Staff/Partners: Tactical performance indicators associated with specific activities and tactics. (ex. views, clicks, opens, abandons, traffic flow, etc.)
Simply put, effective marketing performance indicators vary by stakeholder and work together as a system to modify short, mid and long term behavior of the entire marketing organization.