As a marketing expert, I’ve been asked countless times about tracking marketing key performance indicators (KPIs). It’s something that has become second nature to me over the years, but I realize it’s not always intuitive for everyone. In this blog, I’ll break down how to get started with a KPI tracker, how to choose the right KPIs, and how to maintain this essential tool for your small business. Let’s dive into how you can build and maintain a marketing KPI tracker that works for you.

Start Small

Avoid Overwhelm by Focusing on a Few KPIs

One of the biggest mistakes small business owners make is trying to track too many KPIs at once. We tend to go all out and pick up 42 different KPIs, which leads to overwhelm and, ultimately, failure to track any of them. My number one piece of advice is to start small. Choose three or four KPIs for each platform or campaign you’re running.

For example, if you’re running five different campaigns (three social media campaigns, your website, and a vendor doing some marketing for you), just pick three or four metrics from each dashboard. Put these metrics into a spreadsheet to track them.

Organize Your Tracking

I like to set up my spreadsheet with all the metrics I’m tracking on the left side and the months running across the top. This way, I can easily see if the numbers are trending up, down, or staying stagnant. Remember, you don’t need to have everything perfect from the start. Just begin with a few numbers and track them month over month.

Block Time for Tracking

Schedule Regular Check-ins

It’s crucial to block time on your calendar to review and update your KPI tracker every month. I often refer to this as your "inner CMO meeting" or "chief marketing officer meeting." This is the time when you sit down at the end of each month, gather all your metrics from various marketing efforts, and input them into your spreadsheet.

Consistency is Key

Without a dedicated time slot for this task, it’s easy for it to get pushed aside. Trust me, I’ve been there. Blocking time ensures you stay on top of your tracking and can make informed decisions based on the data you collect.

Track the Zeros

Don’t Avoid Low Numbers

One of the most frustrating parts of tracking KPIs is dealing with zeros or low numbers. It’s tempting to either stop tracking these numbers or avoid tracking altogether. Both of these reactions are problematic.

If you’re supposed to be tracking something like the number of networking events you attend each month but consistently hit zero, it’s essential to keep tracking it. This forces you to confront the fact that you’re not prioritizing this activity and need to make adjustments.

Use Low Numbers as Motivation

Low numbers aren’t fun to track, but they can serve as motivation to improve. Instead of avoiding them, use them as a push to do better. Remember, marketing and tracking are muscles that you need to build over time. Starting small and being consistent will help you improve gradually.

Flexibility and Adaptation

Adjust as Needed

Marketing is supposed to be flexible, especially for small business owners. As you track your KPIs, you’ll learn which numbers are truly important and which ones you can stop tracking. I have many hidden columns and rows in my KPI trackers because I’ve realized that some metrics are no longer relevant. Don’t be afraid to adjust your tracker as you learn and grow.

Treat It Like a Muscle

Building a marketing KPI tracker is like building a muscle. You wouldn’t try to lift a 300-pound weight on your first day at the gym. Similarly, don’t overwhelm yourself by trying to track too many metrics at once. Start small, build up over time, and remember that the only way to get better is to keep using and refining your tracker.

The Wrap

Building and maintaining a marketing KPI tracker is an essential practice for any small business. By starting small, scheduling regular check-ins, tracking even the low numbers, and being flexible, you can create a tracker that helps you make informed decisions and improve your marketing efforts over time.For more tips on how to effectively manage your marketing and grow your business, visit thestephaniescheller.com. Start building your marketing muscle today and see the difference it can make for your business!