CPC, CPA, CPM, ROI, CLV – what do all those abbreviations mean!? Key Performance Indicators (KPI’s) are a measurable value that demonstrates how effectively your company and/ or staff are achieving your key business objectives. Organisations should be using KPIs to evaluate their successes (and failures) at reaching goals and targets.
Good data and information is essential to the success of any business, be it a huge corporation, charity, startup or a sole trader. If you don’t have a clear picture of your strengths and weaknesses you can’t create a strategy to improve results. Key Performance Indicators measure progress towards your Mission, Vision and business goals.
Here at 4DP we can’t stress it enough – analysing and reporting on how you are performing is the most effective way to assess how you are tracking as a business. It allows you to see where you can improve and what is working for you so you can adjust your marketing or business strategies accordingly.
Just some of the benefits of creating clear KPI’s include:
- Demonstrate Quantifiable Results
- Align Your Team Toward Your Common Goals
- Clear Basis for Future Business and Marketing Strategies
- Create Incentives for Personal Performance – for yourself and employees
- Improves Decision Making
- Provides a Complete Overview of Progress Towards Your Goals
It can be hard to keep track of your company’s KPIs. That’s why we have created this handy tool that allows you to create an overview of your company’s Key Performance Indicators. Sign up above, to receive it. Or alternatively contact one of our friendly team members to discuss how we can help you define, track and report on your KPI’s.