How to apply KPIs to improve

[tmonower957]

Within this section, depending on whether we have a basic level or an expert level, we will talk about the different steps to follow to correctly apply the KPIs.

Basic Level

Define the name for the KPI

Be careful not to mix up the objective, time scope, units of measurement and KPI.

Aligning a KPI with a strategic objective

It is very important to have a clear and defined objective.

Define current value, reference point and target

We will have to ask ourselves what the current value of the south korea consumer email list indicator is, if we plan to reach a certain value or maintain it.

Define the steps for data collection

How will we collect this data? Will we do it manually? Will we program Excel to update automatically? etc.

Expert Level

Find performance and result indicators

Within the context of the objective, have we set a performance or result KPI?

Define the weight of the indicator by comparing it with other indicators aligned with the same objective

Plan the update frequency

How often are we going to update the indicator?

Set indicator expiration date

New goal?

Calculate the cost of tracking a KPI

The value of the measurement must be greater than the cost of the measurement.

Define Rights and Roles

Who can see this indicator, who is responsible for collecting this data, who should intervene when a problem occurs, etc.

Define KPI usage scenarios

What are you going to use these KPIs for? Internal performance? Bonus calculation?

Compare target behavior with actual behavior

Compare your initial expectations regarding KPIs with the actual results obtained.

KPIs are a fundamental tool for any e-commerce as they will help us to know which channels are the most beneficial for our company with the ultimate goal of knowing the behavior of visitors and thus being able to adapt our marketing strategies to achieve an increase in conversions.