What is a KPI? What are KPIs? KPI stands for Key Performance Indicator. KPIs are measured during your Marketing and Advertising efforts to monitor your performance. Key Performance Indicators refer to values that you can quantify and accurately measure. You can measure Key Performance Indicators for anything when it relates to yourself in your personal life or for business. KPI Definition: A value that you can accurately measure to show progress. How to Track Advertising and Marketing KPIs?:
– Track 1 major KPI beyond revenue and costs
– Use monthly or quarterly data
– Use the same data so your KPIs are accurate
– Understand factors that lead to growth or decline
– Use KPI data for future marketing strategies What is your main Marketing KPI?:
– Revenue & Profit
– Customer Lifetime Value
– Phone Calls
– Contacts
– Sales
– Social Media Following
– Total Website Traffic
– Appointment Bookings
– Downloads
– Cost Per Lead/Sale
– Organic Traffic
– Social Traffic Key Performance Indicators Example 1:
A Dentistry is running ads to drive more monthly leads including phone calls, appointment bookings, and contact form sends. What is the KPI?
The KPI is leads per month. Key Performance Indicators Example 2:
A marathon runner is training by running 10 miles every other day for 2 weeks. The runner wants to beat their running pace of 10 minutes/mile. What is the KPI?
The KPI is running pace.