Count Your KPIs
Keep track of the numbers that matter. While the rest of the world is counting calories, we're kicking the year off talking about your key performance indicators (KPIs). As a business owner, marketing director or anyone trying to increase the bottom line you need to be tracking and counting KPIs.
Key Performance Indicators only work if you do.
In order to make this year epic for your bottom line you have to take stock of where you are and where you were. Yes, you need to do your accounting and check those profits and losses, plus track your KPIs. Borrowing the words of Tony Horton, the guy who created the fitness series P90X:
"How do you know what to do if you don't know what you did."
Let's take a quick look at the current Pony Friday numbers for a real life example. The KPIs we're currently tracking are:
- Instagram followers (up 600% from last year)
- Facebook page likes (all new)
- Twitter followers (up 15% from last year)
- Website visits (up 400% from last year)
- Number of orders (almost nine times higher)
- Sales conversion rate (seven times higher)
- Blog RSS subscribers (all new)
- Email subscribers (all new)
At the beginning of 2016 we added strategies to our toolbox that included more social media tactics and activities. As you can see from our list, some are working better than others and the three newcomers don't yet have enough data for comparison.
Have you even defined your KPIs?
It’s easy to just roll from year to year assuming growth just because money is coming in the door and assume failure when it isn’t. But you’ll never really know how your business is doing or why without tracking.
Define your KPIs. Take stock of where you are, where you were and start thinking about where you want your business to be in 6 months, a year, or 5 years. Tracking data is a necessary part of navigating your business marketing tactics. And defining a timeframe for checking in is just as important as defining where you want to see improvements.
Calories don’t lie, and neither do your KPIs.
The more honest you can be about your past performance, the better equipped you (and your marketing and advertising team) will be in helping you achieve your KPIs.
When you’re ready to kick your brand in the ass and start achieving the kind of KPIs that turn heads, we’re here for you.
Happy KPI counting!