KPI stands for Key Performance Indicator, which is a data point that provides insight on your Houston business or an activity your business attempts to execute. The KPI’s you decide to measure will be used to evaluate the success of your Houston business’s marketing strategy, so in this marketing blog, we will explain why KPI’s matter and which ones you should measure on a regular basis.
Why You Should Measure KPI’s
What makes Key Performance Indicators so valuable is the fact that the success of your Houston business’s marketing strategy lies within how these KPI’s affect your business.
By measuring certain KPI’s, you are able to tie them in with your business goals, which is an excellent way to ensure you reach them in a timely manner. Once your business starts achieving its goals, success and growth are near.
KPI’s Get Confused With Data Metrics
KPI’s and metrics are different, but they are cut from the same cloth. Both types of data tell you how your marketing strategy (and business) is performing, as well as whether or not you should change a certain facet of it. However, “Key” is the keyword here. A Key Performance Indicator is one that is critical to achieving a specific desired outcome, whereas metrics cover a wide range of data, some of which may not pertain to your company’s specific goals.
Which KPI’s Should You Measure
Deciding on your Key Performance Indicators is a crucial process and may require a brainstorming session with your team. Which data is considered a KPI depends on your goals, which suggests they may change over time. Some examples of objectives to set KPI’s for:
- Increase how many of your email newsletter recipients click a link. You will want to measure and regularly check on your Click-Through-Rate (CTR).
- Increase successful form fills that led to a point of contact. Your KPI in this case is your conversion rate.
- Generate more leads with GoogleAds. You may want to measure your ROI to see how much it costs for X amount of viewers to become leads
Review How Our Custom Marketing Strategy Helps Your Houston Business Achieve Its Goals
Remember that while KPI’s are numbers that should be highlighted, you cannot just set them and forget them. You must regularly review your KPI’s so you can learn the story the numbers are trying to tell you. Our Houston marketing agency knows that this requires time and putting together reports. If you’re ready to see how your Houston business expands when we implement your custom marketing strategy, then please contact us so we can develop a custom marketing strategy with clear KPI's you wish to track. By evaluating your KPI's while executing your Houston marketing strategy, we will hold ourselves accountable and ensure we make necessary adjustments to your marketing strategy so you are on the continuous path to growth.