Growing a business in this digital era is tough and easy at the same time. It’s easy as the available platforms are plenty and give you access to potential consumers worldwide. On the other hand, it’s hard because everyone else has access to these platforms so your competitors are just as many as well.
One of the ways you can measure your business’ success is by using the KPI or the key performance index. By definition, a KPI is a value that reveals how effective your company or business is at achieving key business objectives. When using KPI, it’s best to measure through various levels so that you can monitor the performance of your business entirely.
This measurable data can be used to check out the performance not only of sales, but key departments in a company such as marketing, HR, customer support, and many others. Of course, not all KPIs are suitable for certain businesses. If you want to maximize the development of your business, you should consider these smart promotion strategies you can compare against your KPIs.
User-generated is defined by the name itself. It is the type of content that you get from your users. Be it through photo or video submissions, user-generated content is always a good means to generate traffic and for your business. There are many ways to encourage users to create content for your website or page.
Perhaps the most effective so far is through contests. You can offer coupons or freebies as a reward in exchange for users submitting various types of content for your page. For instance, if you are running a pet shop, you can encourage your followers to submit photos of them and their pets in exchange for a coupon or a discount on some of the items in your shop.
User-generated content is a good means to measure the amount of engagement that happens through your platforms. What’s great is that this is direct engagement, meaning users are willingly sending their content through your platform and this means more than just simple clicks or likes.
Facebook has a few integrations that accommodate businesses. These tools are intuitive and effective when it comes to running marketing campaigns and seeing how well they perform. There are many ways you can use Facebook ads to help your business. This is where marketing campaigns jump in.
Facebook Ads is an online platform that can easily keep track of the performance of your ads on the social networking site. Using it, you can let your ads target specific people and demographics. You can also promote the ads to become more visible as well. These features alone make it an excellent promotion strategy you can use to compare to your KPIs.
The platform will let you measure exactly what type of demographics your business really engages with. Moreover, it will also let you view if your ads are effective or not. In general, the platform can guide you to what types of ads are most effective for your audience.
This type of content refers to the ones made specifically for certain events. For instance, you can make Halloween-themed posts during Halloween. Another example would be posting Christmas-themed posts during this month of December. It is one of the most underrated types of promotions out there.
This type of content is good at measuring what seasons your business is strong at. For instance, if you’re running a retail shop, you’ll need to check what season your products are most popular at. Toy stores are generally great around Christmas because it’s what kids want. During Valentine’s Day, flowers and chocolates are a hit.
Once you figure out what season your products are most popular at, you need to take advantage of this. Whenever the season arrives, you’ll need to be more aggressive with your promotions. You can even open your store to freebies and special discounts so that you can generate more sales.
Email marketing has improved drastically over the years. Now, you can create personalized emails that are far from being considered as spam. Because of the latest enhancements, email marketing is making a return as a means to promote a business. This is a great way to measure your KPI as well.
As we all know, less and less people are using email as a means to communicate. Creating a personalized email marketing campaign increases your chances of getting a reply back. This method of promotion lets you gauge your engagement levels on other platforms other than social media. It’s always good to take to multi-platforms for your marketing campaigns.
If you have a website, then you can use the platform not just for sales. A lot of companies are using their website for content marketing which often come in the form of blogs or videos which are readily available for viewing. The content itself could be anything related to your nature of business. What’s important is that it needs to be informational.
Content marketing is a direct way to measure the number of visits and clicks you get on your website. If you are running an ad platform on your website, then you can potentially have another way to make revenue offline.
It goes without saying that as more people are directed to your content, you’ll be getting more possible consumers as well. That being said, you can measure your conversion rates from visitor to consumer through content marketing as well. Just make sure your content has great SEO so that it’s visibility on SERPs is high.
KPIs are very business friends. It’s given that this measuring factor takes time to practice and master. If you want to fully reach the potential of your business, then it is a must that you make KPIs core to your marketing strategy. Not only will it help you gauge the overall performance of your business, but it also directs you to the type of marketing campaigns that work.