Goals & KPIs: How to set values that measure success?

You can ask any Marketing Manager, Digital Director, or even an external team like digital agency about the distinct advantage of digital marketing over 'traditional' marketing, and the answer is that everything is measurable and understandable in digital about results marketing benefits that bring to the business. Below you can find KPIs measurement specifications.

There are many tools for measuring performance and getting detailed information about our users and their actions, but like any tool, you need to understand how it works first and how to use it to reach conclusions based on your digital efforts. In the next article, we will review our methods and how we measure successes in the digital world.

First, what is KPI?

A KPI (key performance indicator) is a measure that can explain to us how great company goals are being reached.
Let’s provide you an example, if you’re a campaign manager who generates digital campaigns for providing leads to the sales departments, then you might set KPI’s about what ad offers the most accurate results per user’s session.

You need to make sure that your KPI’s are based on your company strategy: sales strategy, marketing strategy, operation strategy, etc. KPI’s must be practical and quantitative.

Business goals & KPIs should be set at the beginning

Digital product research should be based on the business goals; we believe that each business KPI should be presented in the digital asset, and it should answer the target of the site and its KPIs. Before you're starting any project of website/application design or development, you need to be sure that your company's business goals are set.

The importance of business goals

The way a business makes money tells a great deal about goals selection, especially with the way your digital presence and website contributes to your income. Business goals and KPIs indicate a performance measurement that gauges the success of a specific business purpose. The importance of KPI & business goals in any establishment includes: specific, measurable, assignable, realistic and time-related

Why are KPIs important?

1. Performance management

Once there is complete transparency between the team members and between the various teams, everyone looks at a common goal, and there is a cooperation between everyone to achieve high performance. The organization is the first to enjoy this but also what more fun is that teamwork brings success.

2. Boost morale

KPI’s answer is raising morale as well. Why? Because your employees, managers, and even yourself can enjoy the ability to evaluate your performance, yet if some of the performance has not met 100 percent of the goals, you can improve and learn the next time, it helps morale and brings the whole team to success.

3. Target measurement

KPI helps to measure goals. Once we have a clearly written target on the wall, we know how to measure it. We can break it down into sub-goals - by teams, by achievements, etc.

4. Specific

With KPIs, you get clearly defined and targets particular areas of improvement. A proper breakdown of ideas and purpose are integrated into a detailed process, including measurable short-term actions.

5. Assignable/Attainable 

Processes used in attaining KPI & business goals are achievable. The primary goal is giving realistic and achievable responsibility, that works to your full strength.

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    The transition from offline to online and how does it improve our measurement abilities?

    • In the past when we wanted to measure metrics, we defined goals, but it was challenging to measure results and understand what was wrong during the process and how we can be improved the next time.
    • As of today, when we know in the digital world where each user came from, what was his flow, on what ad he/she clicked on, and which ad converted best = brought us the best business results in front of other ads, we improve our ability to measure results and be able to draw conclusions that will lead to an immediate business increase.
    • In general, in the digital world, it is easy for every marketer to set annual, monthly, and even weekly goals per customer, per category, and other metrics that help us to make our business indices better.

    What is necessary to focus on when doing digital measurement

    Firstly, we should ask ourselves "what do we want to achieve," this will be our base, and then we can measure if we have achieved it.

    The different goals are divided as follows:

    • Performance targets - Leads or sales and their indices - Lead price and return on investment (ROI). In this situation, we have evident and significant success measures:
      • How much does it cost us to sign up for a mailing list?
      • How much it cost us to generate a lead.
      • How much does it cost us to produce a sale or to transit a lead to a customer?
    • Traffic targets - traffic to a website / landing page / other digital asset
      • The main target here is to maximize the site traffic, in this case, we have some difficulties in measuring our results because it’s not a numeric measurement like the number of leads.
      • We'll focus on bringing traffic, where we promote content - for example, a new article on our blog, or a PR article about the business.
      • In this case, the measure of success is to minimize as much as possible the price we pay for incoming traffic = the price per click.
      • As we increase site traffic and decrease CPC, we succeed in measuring.
      • Engagement targets - likes, comments, video views, new page fans

    There are two types: social media engagements and website engagements. Here are the measurement parameters for your website:

      • Time spent - how long visitors spend on the site. When we promote content (like an article), we would like to see the time spent parameter that reflects a reading of the article by its length.
      • Abandonment rate - we would like to see a significantly lower bounce rate, as this indicates the interest that users discover in the content of the site.
      • Other possible metrics - video watch, download a file, answer a questionnaire, we'd like to follow all these steps and see how many visitors are doing them. Performing a variety of activities on the site naturally indicates the level of interest and user engagement.
      • Exposure goals - the number of exposures and the number of people (Uniques) exposed to our content.

    Today, using digital tools we can know with high accuracy the user's exposure metric, such as which users were exposed, what they viewed and other parameters of engagement
    Exposure targets measure in two main metrics - impressions - how many times my ads have been exposed in total, and unique impressions - how many people have seen my ads (on Facebook this measure called reach).

    In the digital world, it is easy for every marketer to set annual, monthly and even weekly goals per customer, per category, and other metrics that help us to make our business indices better.

    The business world as data-driven

    The use of data as “evidence” to support calls already made are now things of the past. The future of the business world is data-driven. Businesses nowadays require intelligent analytics to match target demands.

    Focus on delivery

    You should be focused on delivering exceptional customer service, efficiency, growth, and profitability. Make KPI useful for your business through cost weighing of business as opposed to the generated revenue. Every business can also get a better understanding of business performance in line with identifying your best performers. Again, KPIs differ based mainly on your business type and identity you wish to emulate.

    How can we help you measure success?

    Omnis UX / UI & Web development agency will help you understand the indicators you use today, if these are not existing, we will create those for you, we will improve the various digital areas and show you through the indices the results we can achieve.
    Contact us today.


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