A key performance indicator (KPI) is a measure that will be used to determine how well you have met your company’s goals – whether that means in marketing, financial, or sales. Strong business leaders should set a number of KPIs for any project or campaign to better identify how well it is performing.
What Are KPIs?
If you would like to evaluate search engine results for your company, you may want to set KPIs that act as metrics for your marketing goals and targets.
These KPIs can look something like the following:
- Business must show an increase of 60% in SERP appearances
- Website traffic must get more than 1,500 clicks
- Employees must gain a minimum of three reviews a week
Utilizing a strong business or marketing strategy will help you better define and integrate your KPIs. There is no format or template as to how you should build your KPIs. With that being said, they should be quantitative and directional to better determine if your company is headed in the right direction.
Why Are KPIs Important?
From reviewing your team’s progress to tracking the company’s performance, there are a variety of reasons why KPIs are important for your company’s growth. Keep reading below to learn about just a few.
Measure Your Targets
Although it can be confusing, KPIs are not your targets or goals. They are a way to determine whether or not you have reached this particular target. They can be seen as a measurement of goals and targets. If your goal is to sell a certain amount of products in a given amount of time, your KPIs will show you how close you are.
Create an Atmosphere of Learning
Having the ability to measure targets and goals will help to create a strong integrated approach in your company. Using key performance indicators will also lead to important conversations within the workplace – for example, if you see an unfavorable reading on a KPI you can talk to the team and determine how to fix it. You can check whether the KPIs are an effective metric, and make any necessary adjustments to meet the goal.
Receive Important Information
Lastly, KPIs will provide you with a snapshot of your company’s performance. Once you are in a highly competitive market, utilizing information that you gain through KPIs can be crucial in beating your competitors. Some departments will also use performance indicators to see how well they are showing for certain search queries and keywords and use that information to improve marketing strategies and SEO.
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