10 KPIs You Should Be Tracking

September 15, 2021

Email Subscription

Subscribe to our emails for the latest podcasts, company news, offers and more.

group of people subscribing to sms
When establishing your marketing KPIs, it may be tempting to focus on revenue and leads. But these metrics don’t really give you insight into how you can grow your business.

To properly scale your business, you must look at tangible metrics. In this quick guide, we highlight important KPIs that you should analyze.

What Are KPIs?

Before we get into essential KPIs for your business, let’s first define what they are and why they’re important.

A KPI, or key performance indicator, is a business tool. It is a measurable value that helps determine success. They also help you identify areas of your business that need improvement.

Ways KPIs Can Help You

  • Check whether you’re on track to reach your financial goals.
  • Analyze the success of your business strategies.
  • Identify areas of your business that need improvement.
  • Determine whether your customers are satisfied or not.

Now that we’ve gone over the importance of establishing key metrics for your business, below are 10 KPIs you should be tracking.

1. Customer Acquisition Cost

This metric determines how much money it costs to convert a lead into a customer. It helps you evaluate the cost-effectiveness of your marketing campaigns.

2. Customer Lifetime Value

Customer lifetime value allows you to gauge the value your business is getting from long-term customer relationships.

This KPI also helps you to hone in on which medium is helping you gain the best customers for the best price.

3. Social Media Engagement

Social media engagement helps you to identify the effectiveness of your organic and paid social media marketing efforts.

4. Marketing ROI

ROI is a crucial element when reviewing performance. It helps you plan future budgets and set targets.

Here’s how to calculate marketing ROI:
(sales growth – marketing investment) / marketing investment

5. Email Open Rate

Email open rate measures how many people open your messages. The ideal open rate varies by industry, but a sweet spot for most businesses is between 15 and 25 percent.

6. Website Visitors

Measuring organic website traffic is important for measuring the effectiveness of your content marketing and SEO strategy.

7. Conversion Rate

Conversion rate is the percentage of website visitors who completed a desired action — for example, making a purchase or subscribing to your email list.

8. Number of Customers

Determining the number of customers you’ve gained helps you understand whether you’re meeting your customers’ needs.

9. Employee Turnover Rate

Your employee turnover rate helps you to improve training measures, company culture, and benefits packages.

Here’s how to calculate your employee turnover rate:
number of employees departed / average number of employees

10. Employee Satisfaction

Employee satisfaction is paramount for success. Research suggests that employees work 12 percent more effectively when they’re happy at work.

To measure employee happiness, you can conduct team surveys to collect feedback.

Set and Track KPIs with Spin Modern

Don’t know where to start with establishing your KPIs? We’ve got you covered. Spin Modern helps you set objectives and track marketing KPIs.

We’ll also give you everything you need to reach your goals and successfully scale your business.

Looking for more than 10 KPIs you should be tracking? Or ready to take your business to new heights, call us today!

Email Subscription

Subscribe to our emails for the latest podcasts, company news, offers and more.

If you knew these 143 people, then they’d tell you to call us, one of the top Virginia Beach SEO Company!

Through The Roofing Company, we've partnered with Spin Modern for the last two years. The team is very knowledgeable, open to ideas and offer suggestions for improving the website, GoogleAds and SEO search to provide consistent results. They are wonderful to work with and responsive when we have questions.
Cara Riddick
Cara Riddick
13:10 16 Sep 21
My Company Top Precision used Spin Modern to design, build and host our website. They also provide ongoing SEO, advice and consultation. I would highly recommend Spin Modern for these services.
Danny Grasseschi
Danny Grasseschi
17:49 10 Sep 21
Spin Modern advertises our company to find new customers and help us make money! Period. That is why we have a website and social media pages, to be found, help people get fit and make money! Spin Modern operates with integrity and professionalism and they have experienced marketing leaders! Their team helps market us on all levels of web advertising for both of our locations in Kempsville and Bayside! It takes money to make money and their system WORKS! We have had success with Spin Modern and we are confident you will as well when you hire them!
Natural Bodyz
Natural Bodyz
13:26 15 Jul 21
Dave and his team at Spin Modern are the best. They will definitely help you transform your business and make more profits.
drlou71
drlou71
14:06 22 Dec 20
Dave and his team are top notch! Always professional and timely in their response. They have your best interest in mind and are geared toward results and return for your business!!
Parke Atkinson
Parke Atkinson
14:04 22 Dec 20
A local noble company, that really does help businesses grow!
Macro McKenzie
Macro McKenzie
23:30 23 Sep 20
Spin Modern is the best company we have used to create and develop our website. They consistently deliver on everything we ask for. Since going to Spin Modern we are now attracting more maritime students both nationally and internationally. Very knowledgeable on the constantly changing electronic world and making us more visible through Search Engine Optimization, marketing techniques and improved strategies to keep us at the fore front of the digital world. Everyone from Dave on down is passionate about what they do and they do it extremely well!!
Raymond Blanchet
Raymond Blanchet
20:54 13 Dec 19
The team at Spin Modern has been an amazing asset to our start up. From the beginning scope of assisting us with our web site and brand message, to educating us on how best to spend our marketing budget, to implementing a plan to do that, to success---they have walked us through it all. Dave's team are so well versed and knowledgeable about the services they offer and provide, that they has taught us such a wonderful understanding, that we feel 100% confident in our growth and success. Thank you for the professionalism and all that you have done for us.
Erin Hurry
Erin Hurry
00:38 13 Dec 19
I've known the president of Spin Modern Dave Flanagan for over 25 years and there was no question in my mind that when I decided to open my own small business a year ago that I wanted Dave and Spin Modern at my side. I have absolutely no regrets. The website that they designed for us is absolutely top notch. They have made adjustments to our site on multiple occasions over the last year to enable technological innovations that enable better client communications and make doing business easier. Spin Modern made all of these transitions seamless. Their SEO management is second to none. You won't find anyone out there who will work harder for you than all of the folks over at Spin Modern. If you want a true partner in your business, these are the people to which you need to talk!
James Kimmel
James Kimmel
00:30 13 Dec 19