Well a KPI is a key performance indicator of your business. If you are having a digital marketing budget, you are spending it, you must also evaluate the performance. Like how much did you invest, what returns did you get on the advertising, whether you are attracting leads or are able to convert those leads into paying customers as well?
These statements will help you analyze whether your marketing tactics are working or not. For instance, you have a huge digital marketing budget and you get some sales in return too but when you evaluate against a metric you realize that you invested more than you earned then you are in loss.
Business is all about numbers and if you haven’t got your numbers right then it will be very hard to scale your business or even sustain it. Intuition is a great thing but you can’t run a business based on intuition and instincts. You need hard facts, results and performance metrics to evaluate your advertising strategies, your methods, your budget, your returns, and your growth.
In this video, we will be discussing 4 important KPI for digital marketing. If you are running a business and promoting it online then you must understand these digital marketing performance indicators and evaluate your performance accordingly.
I have tried my best to explain this fairly difficult concept in an easy way. If you still have any questions or suggestions, you are more than welcome to ask me.