What are They?
KPI stands for Key Performance Indicator. You may have heard this term in business reporting. Businesses most commonly use KPIs to keep a pulse on their performance throughout marketing campaigns and to make key adjustments in order to achieve success. Before any marketing campaign is to take place, it’s important to select KPIs to track your progress.
When you keep a close watch on your KPIs, you’ll be able to make small adjustments within your campaigns to help reach your goals. Not only will this give you further insights into your marketing on a campaign to campaign basis, but it will help you remain informed on your business’s health as a whole. Defining KPIs in your campaign reporting as well as your routine reports allows you to better visualize your success, or Tell a Story with your Data. When you’re more in tune with your business’s KPIs, you will make more educated decisions in plotting out future campaigns.
How do you Choose KPIs?
Selecting the proper KPIs depends on your target audience as well as how you wish to approach your customer. The first step in determining which KPIs are right for your campaign is to define the goal your business would like to achieve through your campaign. Some common goals are increased awareness, improved reputation, or growing conversions. These goals target audiences at varying stages of the customer journey, seen to the right. If you have a goal in mind, try determining what stage of the customer journey it falls within.
Examples of KPIs
Click on the graphic to expand the chart and view examples of KPIs you might select if you’re targeting customers at each stage of DSG’s customer journey. Some of these examples of KPIs you may include in your reporting are the number of likes, comments, or followers your business’s social media page receives, your business’s overall rating, the number of page views on a landing page, or ROI. Your KPI possibilities are limitless!
When you incorporate KPIs into your business reporting, your data will become easier to visualize and you can begin to recognize patterns over time. Contact DSG today to learn about our reporting solutions.