Alright marketers, this one’s for you.
Your team may be creating the coolest ad campaigns, the most creative content and the best design – but we all know that none of this matters unless you can prove they are actually working.
Managers look at the bottom line. And that means numbers. It may seem that the effectiveness of your marketing strategy is hard to evaluate, but one of the great things about the digital world is that it’s now easier than ever to measure results.
KPIs – or key performance indicators – measure whether a business or organization is achieving its objectives. Here we’re going to outline how you can track the right marketing KPIs in a really simple way. Using the tools you already know: spreadsheets. Oh, and it won’t cost you a thing. We’ve got a free marketing KPI template in Google Sheets to help you do it.
What are marketing KPIs?
You hear KPI, or key performance indicators, mentioned all the time. But it’s surprising how often people forget about the word key in this acronym. KPIs should be limited – they should be the most important metrics for measuring the success of your business. Rather than trying to measure 50 different things, we recommend that you focus on 10 or fewer.
First, let’s break it down by marketing channel.
When it comes to digital marketing, you will probably be working with these 6 channels:
- SEM (search engine marketing)
- Social and Display Ads
- SEO (search engine optimization)
- Content Marketing (blog posts)
- Email Marketing
- Community Building
Let’s take number 5 – Email Marketing – as an example. What key performance indicators might you look at? KPIs need to be SMART. This means they are:
Following these criteria, 10 KPIs for Email Marketing might include:
- The number of emails opened (#)
- The email open rate (%)
- The number of clicks (#)
- The click rate (%)
- The number of conversions ( #)
- The conversion rate (#)
- The number of forwards/shares (#)
- The unsubscribe rate (%)
OK, so you get the idea. Your KPIs for other areas of your marketing strategy need to be similarly precise and measurable.
Once you’ve decided on what metrics you want to analyze, you can start tracking your KPIs. But what do you do with all this information and where do you store it?
Marketing analysis tools like Google Analytics are extremely powerful but you can risk drowning in data. A busy marketing team with a multi-channel strategy can generate a lot of data. It makes sense to bring all of your marketing KPIs together in one place to get a clear overview – and you might be surprised to learn that you can do that in a spreadsheet.
Using a spreadsheet to track marketing KPIs
When it comes to collating data, nothing beats a spreadsheet.
They’re relatively simple, everyone can use them, and – if you use Google Sheets – they are free and easy to share in the Cloud. In fact, a spreadsheet is all you need to monitor your marketing KPIs.
We’ve created a free marketing KPI template in Google Sheets to help you do this. No special software required. By using the template you can:
- Get an overview of all marketing channels’ KPIs
- Track KPIs to meet your business objectives
- View key metrics over time
- Compare different metrics
- Look at the status of projects (e.g. metric goal vs. metric result)
In one single spreadsheet
Using our ready-made, standalone template you just enter the data and our spreadsheet does the work. Easy. We’ve already written the formulas for you.
- Free standalone marketing KPI template
- No need for special software
- Easy to use – in Google Sheets
How do I get the template?
- Click on the button below to get a copy of the template
- The template is saved to your Google Drive and it opens automatically
How do I use the template?
We’ve created the template for you in Google Sheets so all you need is a Google Account.
Get your copy from the link above. The template is saved to your Google Drive and it opens automatically.
Take a look at the instructions tab in the spreadsheet.
Register all of the KPIs for your individual marketing channels in the “Channel KPIs” tab.
In the “Experiments” tab, register all of your marketing experiments and their status. Only enter data into the white cells – the grey cells fill automatically.
Your Marketing KPI template is up and running. You’ve got a simple and clear overview of the progress your team is making towards their KPIs.
Check out your dashboard for an illustration of your most important marketing metrics.
Managing a large marketing team?
Try connecting spreadsheets in a Sheetgo workflow
Do you need a more collaborative solution than one single spreadsheet? Is it too difficult or time-consuming to pull together all of the KPI data from different teams or colleagues? We’ve got you covered.
Try Sheetgo’s automated Marketing KPIs dashboard. Sheetgo connects the KPI spreadsheets from each individual marketing channel to your own master sheet. Each team updates their own spreadsheet(s) and you can view all the results – in one place. And the best part? The data flows automatically.
Spreadsheets are a brilliant, universal solution for tracking KPIs – everyone has access to spreadsheets and they’re easy to use. But they rely on time-consuming manual work and copy/pasting can lead to errors. Imagine if your spreadsheets could “talk to each other”…
With Sheetgo, they can.
If you can use spreadsheets, you can use Sheetgo to automate your spreadsheet workflows. This means you can:
- Create workflows by connecting different spreadsheets
- Import data from multiple spreadsheets into one master sheet
- Collaborate in teams
- Get automated updates
- Save time
- Reduce manual errors
You have connected spreadsheets with Sheetgo to create your own Marketing KPI workflow. Check out your dashboard. You now have a visual overview of the status of all your marketing channel KPIs. Feel free to customize the dashboard to your needs.
Want to save time by automating other business processes? Check out our OKR template for managing your teams’ key objectives and results.