To provide further examples, here are typical KGIs/KPIs that are set up in HR and Sales

[monira#$1244]

Another concept that is often confused with KPI is KSF, or “Key Success Factor.” KSF refers to the key factors that determine whether a company can successfully achieve its goals.

To determine your KSF, you need to research external factors such as market trends and barriers to market entry, as well as internal factors such as your company’s strengths and points of differentiation. Note that since KSFs change every day due to market changes or technological advancements, it is necessary to update your business strategy based on the new KSFs to remain successful.

As for the relationship between KPI and KGI, it is best to imagine that cyprus telegram number database by achieving KSF, KPI can be achieved, thus ultimately achieving KGI or the ultimate goal.

For example, if your goal is to increase your website's annual sales revenue to $100,000 in three years, you could imagine it like this:

KGI = Increase website sales to $100,000 in three years (specific number)
KPI = Increase the average number of queries per month from 500 to 6 within 5 months (specific numerical target)
KSF = Optimize site structure, create new pages (necessary actions to achieve the above goals)
 
How to set KGI and KPI (process)
 

KGIs are often set based on sales, profit margins or number of contracts. So start by deciding with your team what you want to achieve and set specific numbers to clearly measure your success.

Here are some examples:

Net sales… “Achieve sales of $50 billion”
The number of contracts... "reached 150% over the previous year".


After setting the KGIs, you can work backwards and set KPIs that assess intermediate progress toward your goals.



If your KGI is “Achieve $50 billion in sales,” your KPIs might include the following:

The goal is an 8% conversion rate
Aims to attract 300,000 visitors to the site
Aim to get 1,000,000 users to the site organically
Target 100,000 company name search queries


Following this sequence, to set KPIs, you must first set KGIs to ensure that the steps to reach the end goal are directly related to it.