You know that tracking KPIs is important, but defining what KPIs to track isn't always easy. The good news is this doesn't have to be hard. Using the simple acronym R.A.C.E., you can begin to track the data that matters and get more out of your digital marketing initiatives.
As I was searching for a simple way to define KPIs for our clients I came across this great method on Smart Insights. Smart Insights explains they created R.A.C.E. " to help digital marketers plan and manage their activities in a more structured way." The method is all about breaking down your digital activities into four segments.
Reach involves all the activities associated with growing the visibility of your brand.
Act is short for "interact" and covers the data associated with the interactions your users make with your brand.
Convert is focused on moving your leads through the buyer's journey into a customers
Engage is all about long-term relationships.
Using the R.A.C.E. method you can break down your digital marketing activities and your KPIs as well. The infographic below breaks down this method and some of the KPIs you can use to track each phase of your marketing efforts.
It's important to remember that you can't track everything! KPI stands for "Key Performance Indicators." If everything is important, nothing is. Using the R.A.C.E. method you can narrow down what metrics are impacting your business's bottom line. It's time to stop hoping your digital efforts are working. Define your KPIs and know what is (or isn't) working today.
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