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by Admin on April 05, 2023
Online network marketing has become a boon for businesses in the digital age. It allows them to easily reach their target audience with a plethora of touch points, and when used correctly, it can drastically increase your bottom line. However, you won’t see that benefit without monitoring key performance indicators (KPIs).
Understanding which network marketing KPIs you should monitor, however, can seem overwhelming. There are numerous ways to measure a campaign’s success, which is why we’ve created this list of 10 essential network marketing KPIs you should track to maximize your success.
7 network marketing KPIs your business must know.
Lead generation.
Perhaps the most significant network marketing KPI, your lead generation metrics should serve as the key benchmark of every other KPI. Essentially, this is the broadest way to ascertain how successful a campaign was by measurement of the number of new customers you received as a direct result of it. This is the high-level view of your digital marketing, and every other metric serves to improve this one.
Cost per lead.
If lead generation is the most essential KPI, the cost for those leads comes in a close second. Generating leads won’t help grow your business if those leads cost more than the return on the investment. If you can understand which marketing strategy generates the most qualified leads for the best value, you can better distribute your marketing budget to optimize results.
Website traffic.
Most people start their buying process by researching a product or service online, which means your website needs to perform as your digital storefront. So how many monthly visitors you receive matters as a network marketing KPI. The higher the number of unique visitors, the better your chances are at converting those visits into tangible sales.
Bounce rate.
While getting visitors to your site matters, it’s not the only website metric that matters. On top of how many visitors, you’ll want to understand how long each visitor spends on your site. This is the bounce rate, or the length of time users spend on your site and the number of pages they visit before leaving. The longer they remain on your site, the better you’re marketing efforts are performing.
Click-through rate.
If you do any type of marketing that offers an actionable CTA, such as a social media or email campaign, then you can track the click-through rate. This is how many people actually click on a link that directs them to your business compared to the total number of impressions. If you have a low click-through rate, it could mean your campaign’s imaging or copy needs some tweaking.
Conversion rate.
Whenever you have a high click-through rate but the number of conversions seems low, it means you’re doing a great job of getting customers to your site, but you aren’t closing deals as easily. When you look at these two together, it can help you understand where you’re losing customers and if your website needs refining.
Visits per channel.
This network marketing KPI essentially works in conjunction with the cost per lead. It demonstrates which channels drive the most traffic to your website. Is it certain search engines, social media, marketing campaigns, or organic SEO results? You need to know this information to maximize your marketing spend.
Do you need help tracking your essential marketing KPIs?
KPI Network can help you maximize your digital advertising and grow your business. We connect IT and executive decision-makers with the industry’s highest-rated business solutions, and we can find you the perfect provider to help you track every KPI that matters to you.
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