Be sure you’re familiar with the difference between Marketing Qualified Leads (MQLs) and Sales Qualified Leads (SQLs). The importance of leads to a marketing and sales department is comparable to the importance of something like gasoline to an automobile-it’s what drives them. The more leads you get the more sales opportunities you have and the more sales opportunities you have the better are your chances of sales growth.
This often instills a level of ownership with your workforce and reinforces that everyone is in the same boat navigating toward the same end goals. Not only does it serve as a good indicator when it comes to strategic planning, but it also allows for identification of growth trends.ĭon’t be shy in sharing your sales revenue with your employees as well. Measuring your sales growth is, however, vital to the long-term health of your company. Once you start measuring your marketing’s effect on sales growth, it will initially take some adjusting to weed out the marketing that does drive sales. Fair warning-to do this you must have a strong stomach.
Sales GrowthĪt the end of the day the best way to judge your marketing’s success is by measuring its growth in sales revenue. The following is a list of 16 helpful marketing KPIs you need to be measuring…but probably aren’t. For instance you won’t find any KPIs around old-school metrics like circulation, impressions or brand awareness on this list. Chances are if you conduct a simple search of ‘marketing KPIs’ you will find a mishmash of something or other that should help you improve your marketing strategy. There are so many marketing KPI examples out there today-all of which likely have some applicability to your company’ marketing initiatives. It’s time to start investing some time into understanding your company’s marketing KPIs. I repeat…there is NO EXCUSE for not knowing why your company’s marketing efforts are killing it or getting destroyed by the competition. There is no excuse for not knowing why your company’s marketing efforts are killing it or getting killed by the competition. And on the contrary, there should also be no mystery to what’s making your company’s marketing endeavors tank. If it’s not, well then you should probably keep reading.Īs a business existing in the 21st century there should be no lack of understanding over what is making your company’s marketing efforts triumphant. Understanding what’s working and what’s not working in marketing-otherwise known as your marketing’s Key Performance Indicators (KPI)-should be an imperative part of your business’ growth strategy. Do you have any idea what makes your company’s marketing efforts successful? Any clue as to your business’ marketing performance? Any hint of why your company is doing well-or not so well?
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