New year, new goals: new KPIs for your business
- January 20, 2022
Knowing what KPI stands for and all the different types of performance indicators your company can use is one thing… But creating a good list of KPIs is another thing! Many companies make the mistake of only including performance indicators for employees or only looking at financial performance indicators. But doing so means you could be missing out on vital information that would give you a bigger picture… It is vital to select KPIs for managers, employees, processes, customers, and marketing! Having a few KPIs in each vital area will help give you a broader view of your business operations. And since we are talking about marketing, when planning a new year and talking about goals and KPIs, there is one thing that we always have to be, and that is…
S.M.A.R.T.
SPECIFIC – Focused! The more focused, the easier it will be to plan. MEASURABLE – Measuring success is key to knowing progress and what adjustments need to be made to stay on track. ACHIEVABLE – It’s important to be ambitious, but more than anything you need to be realistic both with the objective chosen and with the time it can take to get there. RELEVANT – Goals must be aligned with the overall business objectives and values. TIME-BASED – There should be an end date that drives your efforts.
KPIs
KPIs are the answer to how you measure progress against your goals and objectives. Some examples of marketing KPIs include:
- Revenue
- ROI
- CAC
- leads
- Sales
- cost per lead
- CPC
- etc…
The Power of Analytics Goals and Events
Google Analytics has the ability to set unique goals and events. These customizable goals and events are two ways to track your website and campaign activity on social media or other platforms. Goals and events are essential when evaluating the overall progress of what you set for your business. These metrics measure the effectiveness of landing pages, ads, and overall messages. So what exactly are objectives and events in Google Analytics?
Goals in Google Analytics
Objectives are user interactions that have a direct impact on growth, support campaigns, and overall business strategies. Goals are usually actions a user will take on your website and usually include providing contact information or making a purchase. If your website has e-commerce, Google allows values in euros to be assigned to objectives. These target values can be static or dynamic. For example, each sale costs €5, or each sale value is unique based on event data. This allows you to track purchase revenue, also letting you know which traffic source generated the most revenue and much more.
Google Analytics Events
Events are similar to goals, but they track site actions that don’t always impact your end goals. For example, events often include PDF downloads, browsing, content views, clicks on non-critical links, and video plays. While events do not affect your goals, they are incredibly valuable and provide insights into how improving your website performance and event engagement can have a significant impact on achieving goals. Think about this: not all events must be objective, but all objectives must be events. For example, users viewing more than 5 pages per session is an event that supports a conversion objective but does not impact growth per se. Your 7 Most Common Mistakes in Google Ads
Dashboard, continuous and real-time reports
Amplifier! After goals and events are defined in Google Analytics, it is important to track progress by establishing a reporting process and schedule. There is a lot of scattered data, many PPC campaign platforms, and it is difficult to pay attention to everything. Amplifier is a tool that helps to add everything in one place. Just connect your facebook/instagram/google account and Amplifier will do the rest. Monitor the most important KPIs, add all platforms where you are in one place, doing smart marketing. Stop jumping from tab to tab or platform to platform, Amplifier brings it all together and still offers a team of excellence to help you and help your business thrive, with flexible prices where you only pay for the platforms you use. At the moment, Amplifier is constantly updating and will grow even more – being the best offer on the market right now!
Keep on reading: Amplifier: what is it and how does it work
Marcelo Martins
Cinéfilo. Gamer. Pop Culture. Giggles. Rock. Cats.
"Faz aquilo de que gostas e não terás que trabalhar mais na vida." - Os meus pais ou Confúcio, não sei bem quem foi.
