In geometry, a square is a rectangle but a rectangle is not a square. In digital marketing, all Key Performance Indicators (KPIs) are metrics but not all metrics are KPIs. Misunderstanding that logical distinction might be the most common reason for poor KPI selection.
Just because you
can measure something doesn’t mean you should if it doesn’t directly relate to a current business goal. Moreover, for any business goal, there might be more than one suitable KPI that speaks to it.
That’s why KPI selection is a critical part of digital marketing strategies that has a direct impact on effective reporting. In fact selecting and showcasing the right KPIs may be more important than any other factor except for data accuracy. You are what you measure.
the right KPIs enables and encourages campaigns and initiatives that lead to sustainable growth and digital success. However measuring the wrong KPIs, may incentivize the wrong types of outcomes for long term success.
If you are struggling with choosing the right KPIs for your business, don’t worry, it’s a process! In this blog post, we are going to cover a very basic set of five questions you can ask yourself about your website and organization that will help you identify which KPIs are right for you, and more importantly,