What is a Marketing Manager?
Marketing manager is the person who manages the promotion and advertisement of a business product or service. It may be a single piece of entry or whole line of products or services for a single project. A marketing manager must possess an outgoing, spontaneous and sociable characteristic. These are only the basics as they also need to maintain their focus and professionalism in terms of meeting the budget constraints and due dates.
They are also responsible in accomplishing variety of tasks, like proper estimation and allocation of budget for marketing campaigns, submission of proposals to be approved, engagement with advertising companies, closing a lot of negotiations, preparing sales and advertising contracts, reassuring the quality and content of online advertisement and tv commercials.
What is Key Performance Indicator?
KPIs or Key Performance Indicators are the metrics that can prove everything that you do as a professional. It can be used to estimate the results for the whole organization or for a specific team.
The key information is that, if you plan to engage with a long-term business goal, you should assure that marketing and sales departments have a planned and detailed KPIs to keep them on the right track.
Here is the list of Marketing KPI that you need to keep on track.
Sales Revenue
Does your company gain an increase in revenue through your marketing campaign? Monitoring your sales revenue is significant to know how your marketing campaign impacts the sales. Certainly a company will not spend money if it will not generate a monetary value.
Cost Per Lead
Be wise when weighing your customer acquisition costs both for inbound and outbound marketing. This requires integration of marketing automation and CRM platforms when calculating your customer acquisition costs.
Calculating CAC (Customer Acquisition Cost) for inbound marketing, relevant costs include:
- Manpower (creative and technical)
- Technology and software
- General overhead
Calculating CAC (Customer Acquisition Cost) for outbound marketing, relevant costs include:
- Advertising
- Marketing distribution
- Manpower (sales and marketing)
- General overhead
Customer Lifetime Value
Here is the formula to compute your customer lifetime value.
(Average sale per customer) x (Average number of times a customer buys per year) x (Average retention time in months or years for a typical customer)
Lifetime value of your customers can be increased by developing and continuously nurturing your leading campaigns for your existing customers.
Social Media Traffic
Clients are cautious regarding the importance of social media in their inbound marketing, but as the years passed by it has proven priceless to every campaign’s success. Metrics you can apply to show the importance and impact of social media on your marketing efforts include:
- Number of lead conversions generated via each social media channel
- Number of customer conversions generated through social media channel
- Percentage of traffic associated with social media channels
When using social media sites like Instagram, Twitter, Facebook, LinkedIn, Pinterest, YouTube and Instagram you might not have all the time in the world to effectively maximize the benefits of every platform, but breaking them down by the number of leads, customers, and percentage of traffic coming from each will help you conclude on which areas to put extra effort.
Mobile Traffic
The structure and design of your website should be compatible to any king of techy gadgets especially for mobile phones. Many people are browsing the web exclusively from their smartphones and device. Google’s algorithm will automatically generate those sites that are optimized for mobile, you must know the needs of your visitors.
Focus on the following:
- Mobile traffic
- Number of lead conversions from mobile devices
- Bounce rates from mobile devices
- Conversion rates from mobile optimized landing pages
- Popular mobile devices
Pay attention on how does your website appears to the mobile phones of netizens to improve better engagement and connection. Read more about tools to Help You Define and Monitor Your Digital Marketing KPIs.
