In any strategy and marketing plan, a good measurement is the key to addressing the most appropriate decisions. Understand that it is a KPI will help us know that we must use indicator at all times and the steps we must follow to reach our goal.
What is KPI?
KPI, English “Key Performance Indicators“, also known as key performance or key performance indicator indicator measures the level of performance of a process, focusing on quantifying the results of a particular action, indicating the performance of processes, so that it can achieve the objective.
That is, it is a formula that allows us to:
- Making control and monitoring of actions.
- Measure and quantify the success of our actions.
- Make a diagnosis of the situation.
- Measure the effectiveness, profitability and evolution of the shares.
- Communicate and report on the situation.
- Improve the efficiency and productivity of one or a set of actions.
- Progress constantly applying corrective actions of the detected deviations.
To create an indicator, or KPI, it is essential to be:
- Clear, simple and measurable: By definition, a KPI should be measurable in physical units, monetary
- Specific and relevant: we must ensure kpi choose the right at all times.
- Newspaper: You must be able to be analyzed periodically depending on the target.
- Adapted to each strategy objective or need.
When designing a good marketing plan should include the key indicated to help us measure the effectiveness, profitability and evolution at all times. The indicators of a good marketing plan passed by measuring aspects of business management and marketing indicators.
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Effectiveness. This indicator measures that the benefits outweigh the expenditure. This KPI takes into account the income from sales made through marketing activities both online and offline.
Also, the effectiveness indicator also evaluates customer satisfaction for the made purchase, how often make new purchases or contracts again service as well as image and brand loyalty.
Efficiency: The efficiency KPI evaluates the relative costs for potential customers as well as costs in human resources, intermediaries, for marketing actions, …
Effectiveness-Efficiency: Measure results against costs.
Indicators of Marketing
Here are some basic KPI yes they can be really useful to define a strategy, objectives and assess the ROI of our campaigns on the network. We can classify 4 types of KPIs for Social Networks:
1. Scope. Determine how many people receive your messages. Examples of indicators reach:
- Twitter: Followers and supporters of those who did get a retweet.
- Facebook: Fans and friends of your fans.
2. Engagement. Determine how people act once it has received your message. Examples of KPIs like this:
- Twitter: Number of click made to the links, retweets received, replies and direct messages.
- Facebook: Number of links clickados for your fans, number of comments and “Like” received, posts and direct messages received.
3. Influence. Study the activity caused by third parties: analyzing the comments, direct messages and interventions received and classify them to determine if what you think is going against or in favor.
4. Conversions. Assess what are the benefits for our brand presence in social networks. Ie whether the comments and our contribution of value in each of the social networks have led to the fulfillment of the objectives set.
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Because of its importance we must differentiate KPIs that help us measure our website. The Web analytics is not just a tool for measuring web site traffic, it can also be used as a tool for research and market research. You can help us measure the results of traditional print advertising campaigns. For example, it helps us estimate how evolves web traffic after the launch of a new advertising campaign.
Let’s look at the 5 basic KPI that help us to review our website:
1. Bounce rate. We must always engage and impact with the user getting longer be on our website. This KPI indicates user satisfaction we visit.
2. CTR. It is a good indicator of whether our work is presented attractively.
3. Time spent on the web. Analyzing this KPI we do an idea of whether the user reaches the web find the information you wanted and if we meet her expectations.
4. Relevant keywords. If we continue to grow in number of visits we know what the most relevant keywords of our website are.
And to finish the KPI to use for email marketing strategy:
1. Open rate. The percentage of people who open the mail will determine the quality.
2. CTR. Measures whether calls to action are working or not.
3. Subscriber growth. If we want to increase our subscriber list, we can create a KPI growth that measures the percentage growth over previous periods.
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In conclusion, for any marketer using KPI or key performance indicators it is vital. We should not design a marketing strategy or plan without establishing KPI newspapers that allow us to measure and quantify what is really relevant. thus controlling deviations, correcting them and ensuring that our plan is carried out.