What are the key performance indicators (KPIs)?
KPIs are used as indicators of success, often a quantifiable measurement that allows you to track the progress of the long and short term goals. Managers, stakeholders, departments Digital Marketing Company Southampton and agencies use different levels of KPIs to demonstrate and measure the value of success. For example, high level KPI can focus on the management and overall business performance, while its low level KPIs can be specific department or a tactical measure.
You must remember that KPIs are not as valuable as you do them. Do not measure something that does not need to be measured. At the same time, do not measure something then ignore the results.
How the key performance indicators used in digital marketing?
Whatever the size of your business, if you invest in digital marketing activities, you define KPIs. One of the many beauties of digital marketing is that you can measure hundreds of online action to truly evaluate the effectiveness of your efforts.
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There is a wide range of KPIs in the digital marketing industry, but you only need to use a few, so be sure to measure what matters. Wish KPIs must be directly related to your digital marketing goals. For example, if you invest in a new concept of E Commerce Web site with the overall objective of increasing online sales; key indicators of basic performance could be 1) The cost of the measure per acquisition (CPA) and 2) measure the conversion rate of online parameters.
- Cost Per Acquisition measure the amount of money it takes to drive a sale.
- Online conversion can measure the percentage of clicks on the site over the amount of sales.
Why are they so important?
Without establishing performance indicators, how do you know your campaign is successful?
The KPI establishment and share them with key means of stakeholders, it is a simplified view for your marketing efforts. This means that everyone works for the same purpose and includes parameters for measuring success.
Once your organization KPI’s in place, you can review the current performance. This allows you to manage, control and determine whether your marketing efforts support your business objectives and make the necessary changes on the way.
The evaluation of key performance results, you can make improvements for future marketing activities. If that does not work, why? If it did, how can you improve for next time? Anyone can measure the data, but the strategic part is the measure of what is significant to the organization.
What vanity KPI measures?
Vanity measurements refer to the digital data is collected that has no meaning to support your business objective. The numbers may seem impressive, but they offer no other guidelines for marketing decisions. For example, if your goal is to increase conversions on your site E Commerce, there is no point crying about thousands of followers you have on your social media page.
Establish good goals, objectives and key performance indicators
right settings KPI takes time and effort, but it is worth it. To ensure that your goals, objectives and key performance indicators are clearly understood by everyone, they must follow the SMART structure.
Specific – objective and accurate, so there is no room for confusion.
- the measurable quantifiable measures so that you can measure the unbiased results.
Achievable – Set realistic goals to your available resources. Take action, do not measure something you can not do so later on or improve.
Relevant – Do not measure something that is of no use to your organization. Remember to ask what it means in relation to our objectives and all activities.
Limited in time – Set a time limit for the review and reach the goal. You must continue to assess and reassess.
Read our case studies and see what Digital Marketing Agency in Southampton used to measure the success of SMART.