SMART KPIs SMART stands for goals or KPIs that are:
Specific. Is the objective applied to measure real-world problems an opportunities and drive performance?
Measurable. Can a quantitative or qualitative attribute be used as a measure?
Actionable. Can the information be used to improve performance? If the objective doesn’t change behaviour in staff to help them improve performance, there is little point in it!
Relevant. Can the information be applied to the specific problem faced by organisations?
Time-related. Does the goal cover a period like month, quarter or year?
Online Marketing Key Performance Indicators
Measurement Key Performance Indicators Measures that help you understand how you are doing against your objectives. highlight success, or failures, for the objectives you have created for your organization Business Objectives: Increase Sales, Increase customer retention, Reduce Acquisition Costs, Increase # of leads, Increase share of voice, Increase quality of leads to sales, Reduce customer service costs
Typical TrackableKPIs Increase Rate & Value of Conversions Increase Average order size (ecommerce apps) Increase Customer Lifetime Value Increase Average Revenue Per User Reduce Cost per Lead & Cost Per Sale Reduce Core Bounce rates Increase Frequency and Return rates Reduce Abandonment rates
Metrics Traffic Related Statistics # Page Views, Visits, Unique Visitors Channel Statistics Decomposition of Organic, Paid, Email, Direct etc.. Social Stats # of Twitter, FB, Blog, LinkedIn followers/comments # of 3rd Party Links Partners, Referrals, Promotions, Affiliates # of Newsletter signups # of Site Specific Downloads Webinar Views, Articles, Whitepapers, podcasts
Consider higher level funnels – or use conversion goals for these
Simple funnel setup and what NOT to do Gotchas 1. The match type also applies to the funnel care with exact match Gotchas 2. Not actually the URL start with /<page> Gotchas 3. Including a trailing slash / Gotchas 4. Missing/wrongly assigning goal value Gotchas 5. Required step may exclude some behaviour e.g. entry deeper into funnel http://www.lunametrics.com/blog/2008/06/25/funnel-problems-google-analytics/ NB – Segmenting funnel: http://www.lunametrics.com/blog/2010/06/04/segment-goal-funnel-google-analytics/
Segment your funnels! Source: http://www.lunametrics.com/blog/2010/06/04/segment-goal-funnel-google-analytics
Use Feedback tools for…“Why” not “What” http://www.smartinsights.com/digital-marketing-software/website-feedback-tools-review/
http://www.4qsurvey.com/ “Bad web site. Difficult to find item as no search box provided for short cut” “I can't find any prices on your website” “Would like to see where I can buy products from” .