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KPI (Keyword Performance Indicator)
The acronym KPI (Keyword Performance Indicator). Here the KPI is an indicator of the performance of the work.
You are responsible for the objectives you have set, and it is the way to know if you are meeting them.
When you apply a KPI (Keyword Performance Indicator) to your actions, the indicators must meet a series of characteristics to be practical.
They consume to be SMART: Specific, Measurable, Attainable, Relevant, and Time-Bound.
- Here the indicator you work on must be specific to facilitate the monitoring and control.
- In different words, it is not the same to set your goal “I want to sell more wireless headphones” than “I want to increase sales by 30% of wireless headphones.”
- KPIs are data and, so, must be measurable for study.
- Instance, do you take action to sell wireless headphones? First, you must measure the units of the product in a concrete way to establish the objectives.
- When we set these indicators, they must be realistic. In other words, they have to be attainable if you are not doomed.
- Once you establish the KPI, you must remember that it influences your business or project.
- Not all data is critical. However, choosing the important ones will help fix negative actions in time.
Limited in Time:
- It is necessary to establish a deadline to achieve the objectives and thus adapt the actions taken to the established period.
- Here we increase sales of wireless headphones by 30%.
- You can see that KPIs meet several characteristics to measure your actions optimally.
- If you are not completely clear, calm down. Here are some examples of KPIs.
You must know that these indicators are adapting to any company or business.
For this cause, the example that we show you now is related to the field at hand: marketing.
Return on Investment (ROI):
- ROI is an excellent indicator of how your strategy has worked, as it takes into account the income.
- You have generated with your campaign the expenses incurred to carry it out.
- These let you know the origin of the traffic that reaches your website.
- However, it can be direct if it writes the web directly, organically, through Google or social networks.
- In Metricool, you can classify the traffic source where your visits come from.
- Here is helpful information to know which strategy to promote: share content on networks, improve SEO, etc.
Cost per Lead:
- Getting a Lead in marketing terms is a significant advance, as it allows you to acquire valuable user data.
- In turn, it is an excellent indicator of how the campaign you created to achieve it has worked.
- The reasonable cost per Lead will depend on the type of business.
- Here the cost incurred to get leads to sell luxury cars is not the same as to sell wireless headphones.
Increase in sales:
- A modest KPI indicator to know the evolution of your sales. At the sales level, it is functional.
- You should only compare the deals of one month with another, or during a year if you have established it.
- It is usually abstract at a general level because it does not consider other expenses such as production, promotion, etc.
Email Marketing Engagement:
- How have your email marketing campaigns worked? In this case, the KPI indicator will express the achievement of your strategy.
- Once launching your campaign, you can obtain interesting data such as opening and click data, depending on the platform you do.
- It will tell you if you need to change the subject or content to attract users.
Growth of your community:
- Measuring your followers’ growth in the different social networks you have attended will tell you if you conference your goals.
- In what way to keep track of it? In Metricool, you can see your community’s growth and see how it has evolved in different periods.
- Nowadays, you know what a KPI is and its value for your strategy and planning. Place it into practice to understand the results and improve them.
- It lets you keep track of the results at a general level of the actions you are taking in your business.
- Thus, you will know which strategy gives you positive results and which ones are not working.
It also offers exact data and results you are obtaining in your strategy or actions.
- However, you can make decisions on the fly, whether the results are positive or negative.
Get to keep your team always motivated to achieve the proposed objectives.