KPIs of digital marketing managers
Sales Revenue
This first one is easy. Sales revenue is ultimately the reason for all of your marketing efforts. CEO will be more concerned about the results of your marketing campaigns, which are measured through the revenue that comes in
Customer count
An increasing trend in the customer count is good; however, a declining number in the number of customers is not necessarily negative. For example, if having fewer customers means that you’re swapping out low-spenders for more profitable customers, that’s good for the business.
Customer lifetime value
Customer lifetime value is “the projected revenue that your customer will generate for your business during that customer's relationship with you.”
Simply put, how much revenue are you generating over the course of your relationship with your customers? That’s their lifetime value.
Customer Acquisition Cost (CAC)
CAC measures how much you have to spend to get one new customer. If you’re spending more money to get a lesser-paying customer, that might be a problem in the long term. If your business has a long sales funnel, you might want to track this in more detail. You must know what it costs to get a lead, and then move that lead through each sales stage.
Churn Rate (Customer Attrition Rate)
This measures how good are you at keeping your customer. Every time a customer leaves you for a competitor, you have to spend marketing effort to replace them. Unless you are selling once-in-a-lifetime products or services, you should track this.
Net Promoter Score
Net promoter score is a widely used market research metric that typically takes the form of a single survey question asking respondents to rate the likelihood that they would recommend a company, product, or service to a friend or colleague.
Reach
To get customers, you need to go where they are and drive them to your landing pages or website. Reach can take many forms - visits to your website, footfall in your store, clicks in your email newsletter, etc. The critical thing is to understand what your specific strategy is for reaching new customers. Then track the right KPIs to check if your plan is working. Reach measures brand awareness. At times, tracking your brand’s reach in real-time can be helpful especially when you're running a brand awareness campaign.
Engagement Rate
When you initiate a conversation with potential customers, how many of them do actually respond? For most businesses today, marketing is about more than eyeballs. Blogs and social media allow businesses to have conversations with their customers and understand more about their needs. Again, the form that engagement KPIs take will be specific to your business and the channel.
Conversion rates
How do you turn reach and engagement into customers? Some businesses focus only on website traffic or the number of followers on social media. But the point of those reach and engagement numbers is to generate leads that your sales team can turn into customers. Understanding the ratio of hits/clicks/opens to leads and customers helps you to weed out the least useful tactics.
Marketing Return on Investment (MROI)
The most important metric. Marketing return on investment (MROI) is also called return on marketing investment (ROMI). Both refers to the amount that a company gets for spending their marketing dollars.
No-risk talents
We supply professionals proficient in software development, management consulting, data analytics, UI/UX, digital marketing, channel partnerships, financial management, project and product management, from our largely Singapore-based talent pool. Each talent is selected for their subject matter expertise and their experience working in managed teams. All talents come with a risk-free trial period so that you can ascertain their capability prior to starting officially.6 traits of a successful digital marketing manager
1. They are true leaders
Let’s just take the “content” part out for a minute and consider what traits it takes to lead any team or department in a business context, or even as a freelance consultant who needs to be able to work with a variety of clients. Managers need to know how to communicate clearly and assertively in order to ensure that things get done. But they also need to understand how not to be overbearing to the point that it stints their employees’ productivity. They must be adept at sound relationship building in both a B2B and B2C context. Managers must also understand the fundamentals of strategy, including setting goals, creating processes and procedures, and forecasting ways to achieve set ROIs is key. Not putting all of your eggs in one basket is key, here, as is taking into account both the people side of the business and the technical elements.
2. They have a Clear Understanding of the Content Marketing (Sales) Funnel
Digital marketing Managers need to have a firm grasp on what it takes to close a sale and will be working in the “funnel” the whole way through. They must be able to understand the buyer’s journey in order to manage and direct the things that need to be done to improve a company’s ROI. They’ll essentially be directing a team to actually do this work, but they must be able to communicate exactly what’s happening with clients. This will likely heavily involve building brand awareness, which is more at the top of the funnel, but can also involve other marketing activities that are about closing the sale, such as email campaigns and ad copy.
3. They understand social media
A good digital marketing manager will be able to try different techniques and strategies without losing too much in the way of time or energy. They should be able to visualize outcomes via data-based predictors. And this is true not only with basic content (for example, the website) but also with regards to how well various tools like social media works.
4. They understand SEO
A manager of a digital marketing agency will have a team of experts working under them who specialize in various departments, and as such, they may not need to know SEO and other key performance indicators (KPIs) in a detailed way. However, they need to be able to understand this type of data well enough to communicate details to clients and other team members. Not only that, they need to be able to explain how it will inform the entire digital strategy.
5. They pursue ongoing training
There’s so much going on in this field, that it’s important to keep up with as many digital marketing trends as possible, but only the ones in your field or area of interest. A good idea is to choose just one facet that you know is going to be trending (for instance, how to integrate automated chatbots into your client’s website), and go from there. This is also true for your staff. A digital marketing manager has to have their eye on the trends that are relevant to their business and approach and is immersed in ongoing learning not only for themselves but also for their staff.
6. They must be persistent
A digital marketing manager must always keep pushing through challenges for their own agency as well as when they’re servicing clients. There must always be an approach that a problem can be solved, and that a strategy can be improved. At times, this will feel extremely daunting, so having a resilient, “never give up” approach, combined with an ability to find unique solutions to problems, is essential. A great manager will understand how to achieve an effective work-life balance so that they don’t end up losing their mind with all the little details. To this end, a great digital marketing manager must know what parts of the work to manage themselves, and what parts to give away.
