One of the things that are most surprising about humans is our ability to adapt to change. We’ve gone from a world of face-to-face interactions to almost purely a virtual ecosystem. We now have face masks to add to the long list of accessories we love to strut with. Even with our adaptability and our desire for survival, we still latch on to some behaviors that we can’t seem to dust off. Instead of experiencing those behaviors face-to-face, we are now experiencing them via conferencing platforms. And, what are some of those behaviors? Lack of focus and inability to stick to a plan.
In my experience, these behaviors lead to failed projects, disappointments, and some uncomfortable conversations with upper management. Some of these issues can be mitigated with proper planning and being that one person that says, “remind me what the objective was”? So, as marketers, not only do we need to provide insight into marketing, we also have a role in project management. When it boils down to it, keeping your eye on the objective, goal, and most importantly, the KPI (key performance indicators), will help keep you on track and shave off some time of those long meetings. So, why are these important to your strategy?
Setting up a grading scale (a.k.a KPIs)
KPIs are not technically a grading scale but in a matter of speak, it is your letter grade for a successful campaign. According to Jennifer Yesbeck at Alexa, this is not far off. “It is a measurable value that shows progress in reaching a business goal.” She goes on to say that a “KPI in marketing is a measurable value tied to specific objectives of a marketing campaign and it indicates progress during the campaign which helps measure marketing effectiveness at the end of a campaign.” So yes, it is a letter grade for a marketing campaign.
I don’t know about you, but I’ve always tried swinging for the fence when it comes to being graded. As I mentioned in an earlier blog on social media reporting, the key to KPIs is to keep it simple and true to the objective and goals. This will help keep some from circling topics on content meanwhile others snore on the background during a video conference.
At the end of the day or in this case, the campaign, we want to be sure to keep true to our originally set KPIs and display them in a marketing dashboard that isn’t too overwhelming. So, remember, keep focused, drink coffee, avoid the eye rolls, and stick to your original KPI plan.
These are some reasons why KPIs are important to marketing strategies. Have any pointers to share? Share your thoughts and comment below. And don’t forget to read up on other marketing-related geeky stuff on my blog.