You think that you dominate Digital Marketing? It is well, I gave us then what is a KPI? How you define them? It seems that you do not know it so clearly, truth? You do not worry, next we are going to explain everything in detail to you what you need to know.
KPI is the abbreviations of Key Indicators Performance that could be translated as indicating key of yield.
They are metric measurable and quantifiable that determines a variable numerically, for example income, expenses, number of visits¦ directly related to the objectives marked within the strategy.
Why so are important the KPIs?
Since we have shelp KPI is indicating key of yield associated to quantifiable objectives that:
- They allow to measure the yield of a process.
- They represent a value related to the goal that has phelp attention previously.
- Normally, they are expressed as a percentage of attainment of this objective.
One of the great advantages of digital marketing is the great amount of data which we have, but this simultaneously can become in ours against by not knowing by where home to analyze. It is there where they appear KPI as a specific key element so that does not happen and we can obtain learnings of value of the realised campaigns.
That yes, you do not waste the time with metric that is outside your control, since you cannot influence in his result, nor in the calls vanity metrics. Perhaps by the name you do not know which they are, but certainly you know them. We are speaking as that they serve to make you feel better with your brand, but which they do not contribute any type of value or strategy to your business. As what likes in your last publication in Instagram serves to you to have 600 itself it has taken you to 2 conversions in your Landing page? It is the crux of the matter There!
How to fix a KPI?
Each business is different. What is an action of value for one e-commerce of electric home appliances will not be it for an agency. For that reason most important to establish a KPI it is to decide what to measure. It seems logical, but he is not so simple. You must choose what area you wish to monitor according to the global objectives of your brand and to the metric ones of the results obtained in the past (lagging indicators).
Once you have that, is easy. You concentrate in the long term objectives (we put for example to 5 years seen) and will thus obtain the sufficient perspective as understanding what objectives (in the short term) are those that you must fulfill for being able to arrive at them.
The terms you will be able to determine according to your priorities and the resources to them which you have.
Types of application of KPI
If the objective that you consider requires of a continuous improvement, simply you must give the same level of transcendence to each phase.
In that you fulfill the objectives of very fast form, but the effect is diluted over the years. It is the ideal answer to resolve existing problems.
In the long term
Having the Inbound Marketing as one of the main strategies, in which as it marks you do not begin to obtain results until the second year.
* to facilitate the task, we recommended to divide KPI to you by channels (organic, Social Average, etc.). Thus you will be able to make an analysis separately from how they are contributing to the global objectives of your brand.
An example in Social Average could be the following one:
Indicator Leading: number of followers.
KPI main: conversions.
KPI secondary: visits.
KPI tertiary: engagement.
How many does KPIs need your brand?
Less it is more. Not to have many KPI the analysis of your results or your strategy online is better going to be. Normally, the brands fix one main one, leading indicators (metric that condition the result of the main indicator) and one at the most secondary and another one, tertiary. It is as is always you must guard because KPI that you have fixed fulfills the SMART conditions.
Conditions of SMART KPI
It must be concrete. Instead of dwell time in the Web Web, it looks to center you in the dwell time of the organic visits in your site.
For example, instead of to analyze engagement that can be a quite general term according to what it considers, you can be focused in the average time in page by visit.
2 Ms of followers in 1 month are something unattainable for the immense majority of brands. You do not have to mark limits in your goals, but you must be realistic. To fix to you as objective to obtain 2 K followers, yes that would be a KPI attainable.
With an outstanding impact in the business, that is to say, instead of commentaries in a publication of Facebook, conversions to client in the Landing page.
Trick out of (limited in the time)
With a temporary horizon clearly. As for example, the sales in 4T of the 2018.
The success of any plan of digital marketing resides in analyzing the results obtained in the conducted battles guarding by the fulfillment of the propose goals. For it the KPIs are essential. So it invests the necessary resources in defining and fixing the KPIs for your brand. Only thus you will manage to polish the strategy and to optimize the processes to ensure the success of your actions.
And you what KPIs you use? Add to something more would envelope they? You have problems to analyze the results of your brand?
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