KPI Selection and Tracking Guide
Choose the right KPIs for your business. Learn how to identify, track, and optimize key performance indicators.
Selecting Meaningful KPIs
Not all metrics are KPIs. Key Performance Indicators directly measure progress toward business objectives.
Characteristics of Good KPIs
Relevant: Directly tied to business goals.
Measurable: Quantifiable and trackable.
Actionable: You can influence the outcome.
Timely: Measured at appropriate intervals.
Common Marketing KPIs
Traffic metrics, conversion rates, customer acquisition cost, customer lifetime value, return on ad spend, engagement metrics.
Setting KPI Targets
Base targets on historical performance, industry benchmarks, and business objectives. Make them challenging but achievable.
KPI Frameworks
Use frameworks like OKRs (Objectives and Key Results) or SMART goals to structure your KPI program.
Tracking and Reporting
Monitor KPIs regularly, create dashboards for visibility, and review performance in team meetings.
Common Mistakes
- Tracking too many KPIs
- Choosing vanity metrics
- Not aligning KPIs with goals
- Failing to act on insights