With these KPIs you understand your customers better and become even more successful!
There’s probably not a day that goes by where you don’t first of all check your KPIs – in fact, KPI monitoring probably determines a large part of your daily business. Or would you like to kick off and better and more accurately evaluate your goals? How many clicks did the last Instagram Ad have, what were the opening rates of your email and many more. The list is almost endless. It’s not so easy not to lose the overview or, more importantly, not to lose sight of which KPIs are the right ones for your performance goals. This can be different for each product or department, but also for each channel or ad format.
Of course, every marketer should have heard of the basic KPIs. But if you are completely new to this, we have a short definition here.
1. KPIs – a brief explanation of the basic indicators
KPIs, or Key Performance Indicators, are key figures that help to evaluate marketing measures. They show whether and where your budget has been used correctly and whether your set goals, such as more leads or a higher shopping basket value, have been achieved. Correct, well thought-out KPI controlling and KPI management will therefore help you to optimise your marketing performance. The same applies to KPIs that are relevant for sales or project management.
But now to the details. There are basic KPIs that every employee, even in sales, project management or IT, should have heard of.
These key performance indicators include
- Number of conversions
- CR (Conversion Rate)
- CPA (Costs per Conversion)
- ROI (Return on Investment)
Find out more about how conversion-optimised sliders can help you optimise performance and how to get the most out of them.
Number of conversions
CR (Conversion Rate)
Optimising the CR is one of the most effective ways to maximise your conversion rate. However, website and questionnaire optimisation, which increase your conversion rate, require some patience and test, test, test 😉 We have summarised here at a glance what you need to consider when testing & optimising: https://slidevision.io/en/a-b-testing-the-most-important-questions-and-answers-at-a-glance/
CPA (Costs per Action)
Tipp: Depending on your marketing goals, you may have noticed that not all customers are equally valuable to your company. To find out which customers are more valuable to you, we have developed our Lead-Value Feature. Through the integrated tracking in our sliders, learnings are collected, which ensure that you can reach the customers who are better suited to you: https://slidevision.io/features/
ROI (Return on Investment)
In any case you should not forget to make the appropriate setups to be able to track the correct data. How to do this and what you have to pay attention to is explained here: https://slidevision.io/en/help-center/tracking-settings/
2. Which KPIs for what
Depending on the field of work you should look at different key performance indicators. Enclosed you will find part 1 of the most important KPIs. Part 2 is coming soon.
Let’s start with your website: these are the key performance indicators you should have in mind!
If you run an online shop, the products sold are of course the main focus. This leads us straight to the first KPIs. In order to optimise your performance in the long term, always keep an eye on how much it costs you to encourage your customers to buy in advance. Here, too, there are always a number of adjustments to be made.
How to analyse?
Do you use classic Excel for your KPI monitoring? Of course we use Excel for our daily work and have come to appreciate its consistency and tools. But sometimes this is simply not enough and the desire for a KPI dashboard tailored to individual requirements is understandable.
Especially when it comes to an automated, graphical representation of key performance indicators, the use of a suitable KPI dashboard is more than useful. Here you can find an overview of different dashboards: https://t3n.de/news/kpi-dashboards-startups-525365/amp/
In part 2 of our KPI series we present the most important Key Performance Indicators that are particularly relevant for SEA and SEO. So it is worth taking a look!