Decoding Marketing Performance with KPIs

Every data-driven or AI/ML-driven marketing strategy starts with a set of optimization and enhancement goals that have key performance metrics tied to them. These key performance metrics or measures are often termed the key performance indicators (KPIs) that help you track the performance of your marketing campaigns and define the success criteria of your marketing efforts. Some of the frequently used KPIs in digital and data-driven marketing that we will define and explore in this chapter are conversion rate, cost per acquisition (CPA), customer lifetime value (CLV), and return on investment (ROI).

In this chapter, we will discuss a frequently used set of marketing KPIs, what they tell you about your marketing campaigns, and how they can be used to further improve and optimize your marketing strategies and business outcomes. We will use an insurance product marketing dataset as an example to highlight how Python and its data analysis and...