KPIs For A Performance Marketing Agency

Posted By Socinova | April 8, 2022 | Business

What are KPIs?

Marketing KPIs can be defined as a metric to check the progress of your company, project, or team to ensure that work is paying off. KPIs provide data that can be studied and analyzed & based on the results achieved, the outcome of the current strategy can be defined, or a further course of action can be decided.

KPIs can be quantitative or qualitative in nature. Quantitative KPIs are numbers-oriented such as the number of followers, revenue generated by referrals, etc. On the other hand, qualitative KPIs deal with ratings received for service and customer satisfaction.

 

What is a performance marketing agency?

Performance marketing agencies specialize in bringing the brand in front of a larger quality audience and focus on pay-per-click action that brings in leads which further results in a conversion. Rather than offering a wide variety of services like digital marketing does, performance marketing agencies provide specific services which are specific to lead generation or meeting a specific goal set by the business.

Such performance marketing agencies use various marketing channels to meet the desired goal.

 

How is a performance marketing agency different from a digital marketing agency?

A digital marketing agency provides a large variety of services like branding, content development, and graphic design & then provides performance marketing as an add-on service. Whereas performance marketing agencies solely focus on getting your brand more recognition, more leads, and giving a more qualified audience & conversions.

 

Marketing channels used by performance marketing agency

Since performance marketing agencies focus on pay-per-click actions, they use analytics to track & report the results achieved. Mostly used performance marketing channels include:

 

How do performance marketing agencies select the best KPIs?

Many performance marketing agencies use the SMART goal framework to select KPIs.

S – Specific

M – Measurable

A – Achievable

R – Relevant

T – Timebound

 

Specific: Setting up a specific task or objective is the first thing to do while selecting KPIs.

Measurable: Always have a measurable quantity associated with your current goal while selecting KPIs.

Achievable: The goal set should be realistic & achievable.

Relevant: It should be relevant to you, your goals, or where you want to be.

Time-bound: Have fixed time associated with your goal, i.e, how much time do you want to achieve your set goal.

 

Some Important KPIs For Performance Marketing Agency

As performance marketing agencies are driven by result & pay per click action, getting more leads & conversion is the primary goal. To achieve this, the KPIs that are mostly preferred are:

  • Followers (social media)
  • Engagement
  • Site Visits
  • CTR – Click Through Rate
  • CPA – Cost Per Acquisition
  • Conversion

 

Why are tracking KPIs important?

KPIs is the acronym for Key Performance Indicators. As the name states, these indicators help performance marketing agencies to understand the growth or progress of the goal set by a business, team, or campaign. Selecting the best KPIs is an important task to get desired or exact results associated with your goal. Performance marketing agency selects KPIs keeping in focus the company, project & team. The KPIs selected should be in sync with your set goal.

Different KPIs have different goals or information presentations. For example, for a social media campaign, we can divide the indicators into three stages; primary,  secondary & tertiary.

For ease of understanding, we will go from tertiary to primary level:

 

Tertiary: At this stage, the emphasis is on measuring the engagement with your post. After the post has reached its target audience, out of the total reach, what percentage of the viewers have reacted or engaged with your post.

 

Secondary: After getting engagement with the post, we have to calculate how many of the users actually used the call to action or whatever your desired goal of the post or campaign was. For example, if your goal was to increase site visits, so out of the total engagement, what percent of the users actually landed on the site is calculated.

 

Primary: The main goal always is to convert users or viewers into leads & then into customers. This is the primary goal of any campaign i.e., to bring more leads, increase the number of customers and eventually have an increase in revenue and bring in more money.

 

Final thoughts

So, based on the discussion, we can see that performance marketing agencies can be an aid to your business to give you a larger quality audience rather than only building an online presence. The focus of performance marketing agencies on pay-per-click action makes it a reliable choice for businesses to bring in conversion.


Socinova

Author: Socinova

Socinova is an affordable social media marketing company. We create high-quality content, including graphics, videos, etc., and manage your community and ads.

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