Whether you are a brand or a media, interactive formats are the key to engage with your audience, and leverage data to be relevant to each of your followers, prospects, customers. But how do you measure the results of your interactive marketing efforts? Which specific KPIs are relevant to your objectives and your job role?
We had previously explained how to measure the Return On Investment (ROI) of your marketing campaign. Today we propose an ultimate list of interactive marketing KPIs to make it easier for you to report on your results. Discover our brand new ebook!
What does KPI mean?
KPI stands for Key Performance Indicator. It is a measurable value, evaluating how you perform regarding key business objectives. When applied to marketing, it measures your marketing efforts against the goals you have set up. You need to understand what you are trying to achieve in order to know what to report on.
How to define your KPIs?
When setting up a new campaign, choosing KPIs can be daunting. Is the goal to acquire new leads, newsletter subscribers or social media followers? To define your KPIs, start first by answering these two questions:
- What is the campaign’s desired outcome?
- How will you know you have successfully achieved this outcome?
The setting up of a KPI is the translation of your answers into a measurable indicator. We are suggesting the use of the S.M.A.R.T. method in order to correctly set up your KPIs. S.M.A.R.T stands for Specific, Measurable, Achievable, Relevant and Time-Based.
Let’s give you an example…
You are a travel company which needs to attract and engage new customers. To help you achieve that, you are creating a Qualifio campaign (a quiz, a personality test) to win plane tickets to the European destination of the winner’s choice. In the participation form, you are adding an opt-in to your newsletter. One of your KPIs is the number of new subscribers which results from that campaign.
Is it specific? Yes, the number of subscribers is a particular metric to report on.
Is it measurable? Within the Qualifio platform, you are able to see how many opt-ins have been checked in your campaign. You can also double check with your email marketing provider if that number is correct.
Is it achievable? Depending on your goal, you might want to get 100 new newsletter subscribers. The achievability of this goal will depend on the channels you are planning on sharing your campaign: a mini-site, social networks, a dedicated page on your website, etc.
Is it relevant? If your objective is to get new customers, acquiring new subscribers to your newsletter is certainly relevant. Be careful though: someone who will read your newsletter might not convert right away. You also have to send relevant content in order to engage your prospect.
Is it time-based? Your campaign will be on for a month. You will have to measure that specific KPI and assess the success of the campaign at the end of that particular month.
In this particular case, how you will retain and engage with those new subscribers depends on your email marketing strategy, and it can sometimes be a struggle. But that’s another story.
In order to help you measure your interactive marketing efforts, we have put together a list of important metrics you should monitor. From the average cost per lead to visit duration, from opt-in rate to social media followers, find out more about the metrics that are relevant to you in our ebook.