Most Important KPIs By Funnel Stage: Awareness

By Ben Jessup

diagram of the buyers journey, showing the Awareness, Consideration, and Decision stages

You’ve probably heard that your key performance indicators, or KPIs, should play a big role in the creation of your marketing budget. They tell you where to put your dollars to make the most impact— the biggest bang for your buck, so to speak. But. There’s SO MUCH DATA, it’s tough to tell what’s actually useful, and what you can ignore. How do you know which KPIs have the greatest value, and should be used to create that all-important budget?

Ok. You’re sifting to find the KPIs that matter most. Where do you start?

If you haven’t embraced the concept of “smarketing,” or the alignment of your sales and marketing teams, it’s time to get on board. It’s the best combo since chocolate and peanut butter, and it will help you generate the most revenue possible. Once you’ve brought the team together, break down the customer buying process into three stages:

  • Awareness
  • Consideration
  • Decision

Why? Well, it’s a lot easier to break down the KPIs by stage; looking at all of them en masse can be overwhelming, and you might end up falling down a KPI rabbit hole, never to be heard from again. Nobody wants that.

Instead, examine the KPIs as they pertain to each stage in the process. Buyers at every stage have very different needs, and the KPIs should reflect that.

Today, we’ll look at the KPIs you need in the first stage of the buyer’s journey: Awareness. Over the next two articles, we’ll discuss the KPIs for the Consideration and Decision stages— we don’t want you to feel like you’re drinking from an information firehose.

The Top of Your Funnel: Awareness

We’re going to break down the data into three questions:

  • What data should you be examining?
  • Where can you find it?
  • What can you do about it?

Ready to dive in? Good!

What to Look At and Where to Find It

Here’s the good news. You have a lot of excellent sources for data. And here’s the bad news. There are A LOT of excellent sources for data. How do you know what actually pertains to your specific needs? Here’s a quick primer.

Website Traffic

How many visitors do you get every month? Which pages are visited most frequently? These questions can help you get a good feel for the “hot spots” on your website. You can gather this information through tools such as Google Analytics or HubSpot; tools such as these are definitely worth exploring, as they make analytics a breeze.

Another factor to consider is the performance of your calls to action. Are they bringing folks to the pages they’re touting? And how long do people spend on those pages? What do they do while they’re there? Tools like Hotjar offer an in-depth analysis of how people use your website, and what their engagement behaviors look like. This tool is a essentially a “heatmap” of your website, giving you a visual representation of the most popular places on your website.

Social Media

Social media isn’t just for cat videos and pictures of your high school sweetheart’s baby anymore. It’s a Go to the full article.

Source:: Business2Community