005 Chapter 3: Set your KPI’s to show Impact If yIf you can’t easily bou can’t easily blelend ynd your daour data ta ” soursourcesces, y, you can’t unify you can’t unify your KPIsour KPIs. . How do your various marketing groups (or individuals) measure their success? The answer should be threefold — and all are quantifiable: KPIs, trends, and correlations. A defining feature of the integrated marketing analytics strategy is the unification of KPIs, trends, and correlations across views, for a seamless understanding of your marketing efforts. But in orderto unify something, you have to start with its parts. Since you’ve determined your stakeholders, briefly outline for each what their group does and how they measure success. Keep in mind the following types of KPIs, trends, and correlations for each team member: Volume KPIs and trends across channels and the customer journey such as total awareness, total engagement, total conversions, total marketing spend, total marketing-impacted revenue Efficiency KPIs and trends such as cross-campaign conversion rates, cost per lead, cost per engaged buyer and marketing ROI Correlations such as the relationship between offline and online activity, web traffic and leads, social activity and form completions, and ratios of lifetime customer values and customer acquisition costs per segment It’s important to note that if you can’t blend your data sources easily, you can’t unify your KPIs and, therefore, will be stuck in the past decade of siloed marketing analytics. An intelligent analytics platform will help you transcend your siloed and disparate data to bring your KPI metrics together without you having to think about it. Whereas KPIs blend your data on the metric level, classifications blend and join your data at the dimensional level. Document how your team will need to look at the data, filter it, and drill into it. This is the second key factor in how your dashboards will be created. In the next section, we’ll look at some examples in context. Key questions to answer How do my marketing team members measure their success? Which KPIs, trends, and correlations do they need to see to support their decision-making? In order to make comparisons and gain insight, how should our team filter the data? Read 16 KPIs every CMO must track Kwanzoo