In Myanmar's fast-evolving FMCG market, simply launching a campaign is no longer enough; measuring its success is what ultimately drives growth. For brand managers and marketers in Yangon and Mandalay, KPIs (Key Performance Indicators) are essential for gaining insights, adjusting strategies, and delivering impactful results. In this blog, we’ll dive into four key KPI categories crucial for Myanmar’s FMCG brands: Customer KPIs, Website & Content Marketing KPIs, Paid Advertising KPIs, and Social Media KPIs.
With Myanmar’s digital landscape leaning heavily on Facebook and TikTok, every interaction counts. KPIs help answer critical questions: Are we acquiring customers efficiently? How effective is our content? Are ads reaching the right audience? Here’s a breakdown of essential KPIs that can guide your brand to success in Myanmar.
In Myanmar, brand loyalty is highly valued. Customer KPIs help measure not just how many people are buying your products, but how valuable each customer is over time.
Formula:
CAC = Total Marketing Expenses/Number of New Customers Acquired
Example: If you spend MMK 500,000 on a campaign and gain 50 new customers, the CAC is:
500,000/50 = MMK 10,000
Each new customer cost MMK 10,000 to acquire.
Formula:
CLTV = Average Purchase Value × Purchase Frequency × Customer Lifespan
Example: If the average purchase is MMK 5,000, and customers buy 4 times a year for an average of 3 years:
5,000×4×3=MMK 60,000
Each customer is worth MMK 60,000 over their lifetime.
Formula:
NPS= %Promoters− %Detractors
Example: Out of 100 customers, 60 are Promoters, and 20 are Detractors. Your NPS would be:
60%−20%=40
A high NPS reflects strong customer satisfaction and advocacy.
CAC and CLTV are foundational to understanding your customer acquisition cost versus their long-term value, while NPS provides insight into brand loyalty.
A well-performing website and content strategy are crucial for any brand. Here are the KPIs to measure whether your content is driving value:
Example: A traffic increase from 2,000 to 3,500 visitors during a campaign indicates a 75% growth, showing successful outreach.
Formula:
Bounce Rate= (Total Website Visits/Total Single Page Visits) ×100
Example: If 300 out of 1,000 visitors leave without interacting, the bounce rate is:
(300/1,000)× 100 = 30%
A 30% bounce rate suggests that 70% of visitors find value and stay engaged.
Example: If your blog is shared 100 times on social media and downloaded 50 times, this signals that your content is resonating and reaching your target audience.
In Myanmar, where social media drives a lot of web traffic, bounce rate and content shares are key to assessing whether your content is hitting the mark.
3. Paid Advertising KPIs: Maximizing Ad Impact
To ensure that every dollar spent on ads translates into results, it’s essential to monitor paid advertising KPIs:
Formula:
CTR= (Total Clicks on Ad/Total Impressions) ×100
Example: An ad with 500 clicks from 20,000 impressions has a CTR of:
(500/2,000) × 100 = 2.5%
A high CTR indicates that the ad copy and creative are compelling.
Formula:
Conversion Rate = (Total Conversions/ Total Clicks) × 100
Example: If 50 out of 500 ad clicks lead to a sale, the conversion rate is:
(50/500) × 100 = 10 %
High conversion rates show that your ad is reaching the right audience.
Formula:
ROAS = Revenue from Ads/Total Ad Spend
Example: If a campaign generates MMK 1,500,000 in sales on an ad spend of MMK 500,000, the ROAS is:
1,500,000/500,000 = 3
A ROAS of 3 indicates you’re earning MMK 3 for every MMK 1 spent.
For Myanmar’s Facebook and TikTok audience, focus on optimizing CTR and ROAS to ensure that every ad dollar drives engagement and revenue.
Social media in Myanmar centres around Facebook and TikTok, making these platforms ideal for brand engagement and growth.
Formula:
Engagement Rate = (Total Engagements/Total Followers or Impressions) × 100
Example: A post with 200 engagements and 5,000 followers has an engagement rate of:
(200/5,000) × 100 = 4%
Engagement rate helps you understand how well your content resonates.
Formula:
Follower Growth Rate = (New Followers/Starting Follower Count) × 100
Example: If your brand gains 100 new followers from a base of 1,000, growth rate is:
(100/1,000) × 100 = 10%
Consistent follower growth reflects expanding brand awareness.
Formula:
Video Completion Rate = (Number of Completed Views/Total Views) × 100
Example: If 600 of 1,000 viewers watch a TikTok video to completion, the rate is:
(600/1,000) × 100 = 60%
High completion rates indicate strong viewer interest in your content.
Takeaway: Track social KPIs like engagement and video completion on TikTok and Facebook, where Myanmar’s consumers spend significant time.
Tracking these KPIs isn’t just about metrics; it’s about understanding your customers, optimizing campaigns, and driving growth in Myanmar’s unique market. Here are some final insights to take away:
- Combine KPIs: Use a blend of customer, content, advertising, and social KPIs to gain a full perspective on your campaign’s impact.
- Adapt to Trends: Social media insights can signal shifts in customer sentiment. Monitor Facebook and TikTok engagement to stay connected with local preferences.
- Refine Campaigns with Data: Constantly review and adjust campaigns based on KPI insights. Data-driven decisions help maximize ROI and ensure campaigns stay relevant.
By focusing on these KPIs, you can confidently navigate the market, delivering campaigns that resonate and drive real results.