This measures the total number of people who have seen your social media posts. A larger reach increases the potential for engagement and conversion. With this KPI, you can track the rate at which your social media following is growing. A steady increase in followers is a good indicator of the effectiveness of your social media strategy.
KPI Reporting Explained: Guide to Create Actionable Reports to Drive Growth
A higher margin indicates a more profitable business and provides room for growth and expansion. This is the total income generated from sales of goods or services. It serves as the starting point for any sales analysis and is a critical indicator of business health and growth potential.
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It’s easy to get lost in the data for hours to generate a one-page KPI report. Lastly, communicate your KPIs to your team members so everyone is on the same page and working towards the same goals. Well-defined KPIs are typically simple, understandable, and attainable. We’ll cover all of the above—and then some—because KPIs are the secret sauce of modern business strategy.
Traffic to Lead Ratio
- Simply stating you want to earn more revenue from email marketing isn’t enough.
- COGS refers to the sum of all direct costs involved in producing a sold product.
- If the KPI you are using is not providing enough information, or the right type of information, it’s likely time to swap it for a different approach.
- Comparing the current year’s performance with the previous year’s records can help provide some insight.
For example, an organization may decide they want to evolve their brand image from cheap to premium. KPI dashboards present your KPIs in an easily digestible format so managers can quickly analyze and extract the most crucial information to help them optimize their overall strategy. But, with the target, he can measure exactly how far off he is from his goal, so he can adjust his aim, strength, or his bow. Unwise use of this tool may hinder your business more than help it.
