7 Must-Track KPI Examples for your Drip Campaign
Use these 7 KPI examples for your drip campaigns to increase their effectiveness.
Track the value and cost of each workflow, the conversion rates, the time to conversion, the effectiveness of your lead generation campaigns and the engagement level of your contact database!
1. Value and Cost of Leads per Drip Campaigns
I could have started with other metrics but what is the purpose of your drip campaigns?
Your ultimate goal is to make money. No matter what type of business you are in that is your ultimate goal (hopefully).
So knowing every lead’s value is very important. Why?
Because after that, you can compare it with the cost of lead easily.
Therefore you will know how much money you have to spend to acquire new leads (or users). If you know the overall value and costs of your leads in a drip campaign, it can easily show you which are the drip campaigns that deserves more traffic!
Yes, it helps you in budget planning and go as cheap as it is possible with your lead generation and user acquisition process.
2. Conversion Rate Over Time
I really recommend you to have 1 goal for every drip campaign. As you would have for an email: you send out a drip campaign to achieve 1, well-defined goal.
For example:
- I want to teach something to my leads (email course)
- I want to give a new giveaway (nurturing your leads)
- I want to generate more users (offering trial)
- I want to sell my product (onboarding with sales message at success milestones)
- I want to upsell (sales message)
- I want to reactivate leads/users
…and more.
Every drip campaign has a goal: get the lead go “deeper” in the funnel, be more committed.
Therefore every drip campaign has a conversion rate too.
Just like in the example below:
You send 3 emails in a row that offer the trial.
In this case, you will have a conversion rate for each email (naturally, when a lead achieves the goal he won’t receive the next email).
It means you will know how many emails you should send: if the last email doesn’t get traffic, that is good – you managed to convert people previously.
If it gets too much traffic, your previous messages are not good enough or you didn’t send them at the right time (or to the right people).
The overall conversion rate of your drip campaigns will be comparable. But only if your drip campaigns have the same goal!
3. End-to-End Conversion Rate Over Time
That’s nice if you know what is the conversion rate of your dip campaign. But every drip campaign should have a level that represents the leads’ stage in their buyer journeys. The third piece of the KPI examples is a must-have!
Therefore – as you probably have more drip campaigns – you create workflows for leads who are at different stages of their decision-making process.
As a result, you will be able to create a “funnel view” which shows you the different conversion rates between stages. Every stage of the funnel consists of drip campaigns (filled with content types that are relevant to each decision stages).
In the end of the day you will be able to:
- discover the behaviour-flow of your leads between the different drip campaigns and find patterns in the behavior to refine buyer journeys
- have end-to-end conversion rate for the different buyer journeys
The end-to-end conversion rate is one of the most important KPI examples that can be tracked and a must-have if you want to calculate the real ROI of your campaigns.