Digital Marketing Metrics & KPIs For Fund Marketing Teams
Digital marketing KPIs are qualitative and quantitative values that a fund marketing team uses to track whether or not they are achieving their key marketing objectives – in alignment with any marketing strategy they are implementing. KPIs are focused on a fund marketing target or objective, like increasing website traffic or higher content engagement.
Digital marketing metrics every fund should track
Digital Marketing KPIs and metrics are values that fund marketing teams use to measure, optimise and track the overall performance of a digital marketing campaign that they are running. Fund digital marketing teams use a number of platforms and tools to promote their fund, and tracking the the data from multiple platforms in different formats is both time-consuming and challenging. Infact, each digital marketing channel adds 15% inefficiency to the marketing team, so soon enough you will stop being a fund marketing team and be an Excel report team!!
When fund marketing teams create fund-specific KPIs and track them on a dashboard, it becomes apparent what is working and what is not. It also aids the fund marketing tean to set and refine goals and KPIs, and measure performance against those benchmarks.
Top Digital Fund Marketing Metrics and KPIs
Here is a list of the KPIs and digital metrics for data-driven digital fund marketers:
- Web Traffic Sources
- Page Views
- Cost per Lead
- Returning Visitors
- Click-Through Rate
- Customer Acquisition Cost
- Customer Lifetime Value
The ratio of Customer Acquisition Cost to Customer Lifetime Value is an incredibly powerful metric. The ratio of Customer Acquisition Cost (CAC) to Customer Lifetime Value (LTV) is important because it helps businesses to determine whether they are spending too much to acquire new customers.
CAC is the average cost of acquiring a new customer, and LTV is the total revenue that a business can expect to generate from a customer over the course of their relationship. A healthy CAC:LTV ratio is typically considered to be 3:1, meaning that the value of a customer is three times more than the cost of acquiring them. If a business’s CAC:LTV ratio is too high, they are spending too much to acquire new customers. This can be a problem because it can make it difficult for the business to be profitable.
What is the most important digital marketing metric?
Fund inflows is the most important KPI for fund marketing teams. For every marketer worth their sale, all KPIs should lead to inflows — even if your primary focus is on website traffic or similar vanity metrics.
If your marketing isn’t generating inflows and worst case money is leaving the firm in redemptions, it may be time to re-evaluate your whole marketing analytics as well the KPIs that are being measured.
How do you track digital fund marketing performance?
Tracking digital fund marketing metrics and KPIs gives your marketing team a real-time view of your overall campaign performance. Using a dashboard – like PowerBI or Tableau or Grow, to visualize your digital marketing analytics will enable data-driven decisions that help your fund grow.