KPIs – What is it?
How can you effectively assess whether your activities in the company bring you closer to the chosen goal? This is where KPIs come in handy. What is this? In this guide, you’ll find examples and practical advice to help you choose KPIs for your team.
For some time, together with the seller of one of the companies for which MK Digital Journey provides marketing services , we have been trying to convince the management to a new investment. We have planned to put 10 high-quality promotional stands in the chain of specialist stores.
The main challenge of the entire operation was the high cost of producing a single rack and convincing the company’s management that the investment would pay off. In addition to the precise selection of the location, we had to provide “hard” data that would justify the expense.
Our plan was simple: without exposing the company to high costs, we put one rack in a store that had been generating sales at a similar level fotime to Database maker 3 years. We set a deadline of 3 months, during which the level of sales of products in a given store was analyzed “before” and “after” inserting the rack.
We didn’t have to wait long for the effects – on the day of mounting the stand, one of the customers bought seven pallets (7 pallets!) of the promoted product!
With specific data, it was much easier to convince the company’s management to invest in more racks. Increasing sales was therefore one of the key factors that allowed us to measure the effectiveness of our marketing activities.
Measure What Matters.
Regardless of whether you work in sales, marketing or logistics, you would like to be sure that your actions are important and bring the expected results. It’s obvious, because we all like to contribute to the company’s success.
It is the key actions that can be measured, analyzed and adjusted that will allow you to assess whether your company is moving in the right direction and will achieve its goals.
Sometimes doing one well-thought-out task gives much better results than doing ten other, but less important ones.
That’s what KPIs are.
KPI – What is it?
KPIs ( key performance indicators ) are key indicators of the effectiveness of our activities over time and for a specific purpose. It is KPIs that allow you to set the main goals for your company’s teams and define milestones confirming progress.
Performance indicators also allow people in different departments of your organization to make better decisions based on specific data. In short, these metrics allow you to focus on what really matters.
A well-chosen performance indicator allows you to tre Optin List tack: effectiveness, quality, timeliness, management, compliance, behaviors, project performance, staff performance or resource utilization.
In the further part of the guide you will find sample KPIs for individual departments in your company. But now let’s focus on this…