Key performance indicators, or KPI’s, allow brands, retailers and other businesses to benchmark themselves in specific areas of brand and direct response marketing and online commerce. Identifying the right areas for improvement can help businesses make adjustments to enhance website user experience or boost sales and lead generation.
Establishing KPI’s and measuring metrics are fundamental to user experience and digital marketing campaign success. The first step in determining KPI’s is to define their desired outcomes and then what it will take to achieve those outcomes.
The most widely tracked and valued KPI’s have been click-through rates (CRT), conversion rates and leads and/or sales generated. But now, with massive amounts of data being collected from a wide range of devices and digital marketing channels and the availability sophisticated analytics tools, businesses are also measuring success and return on investment (ROI) in the areas of branding and CRM, social media, mobile, search and native advertising and are keeping the hunt for more reliable KPI’s active.
This infographic from conversion rate optimization service Marketizator lists a number of high-level KPI’s retailers and businesses involved with ecommerce should regularly monitor to ensure that their online businesses and marketing campaigns are heading in the right direction.