The best KPI reporting starts with understanding the goal system
The ability to quantify results is a core need for every marketer. There’s a lot of talk about KPI reporting, assuming that it gives you some valuable insight into what’s working and what isn’t. It may. If it’s set up correctly. KPIs are often mistaken for other core parts of your goal-setting system.
Those parts are
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Goals and objectives
Critical success factors
KPIs
Metrics
Measures
Let’s talk about each of these items so we don’t confuse other goal elements.
Defining goals and objectives
In his Fast Company article, Dan Feliciano describes the difference between goals and objectives:
Goals can be described or defined as “Outcome statements that define what an organization is trying to accomplish both programmatically and organizationally.”
Some common business goals are
grow profitability, maximize net income, improve customer loyalty and etc. Notice the brevity of these statements.
In comparison, an objective is a specific, measurable, actionable, realistic, and time-bound condition that must be attained in order to accomplish a particular goal. Objectives define the actions must be taken within a year to reach the strategic goals. For example, if an organization has a goal to “grow revenues”. An objective to achieve the goal may be “introduce 2 new products by 20XX Q3.” Other examples of common objectives are, increase revenue by x% in 20XX, reduce overhead costs by X% by 20XX, and etc. Notice how the objectives are more specific and provide more detail.
A goal is where you want to be and objectives are the steps taken to reach the goal.
Ensuring your goals and objectives are clear as you create reports makes them more useful. Without a defined goal strategy, reports become a jumble of metrics and measures. This leaves the recipient with more data points and fewer insights, or tasked with figuring out if these numbers apply to goals at all.
What are critical success factors
Good critical success factors (CSFs) are a small list of core activities that a person, team, or organization should focus on to be meet goals and objectives. They always include both a measurable activity and a time constraint.
For example, your CSF may be to increase qualified leads by 15% in the next 90 days.
Critical success factors are, arguably, what you should roll up many reports under. You may have reports for each KPI, as we’ll discuss, but a CSF summary report will highlight major points. It will also show where deeper analysis and reporting may be necessary.
Key performance indicators
A key performance indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives.
It’s easy to confuse CSFs and KPIs.
CSFs are parts of your strategy that are vital to meeting your goals. KPIs are the quantifiable items that enable measurement of the CSFs and goals.
Examples of KPIs include:
Average rank change compared from last month to this month
Total keywords in the top three this week compared to last week
Number of conversions in Q1 compared to Q2
A KPI is always a calculation of measures, which we’ll discuss more in a moment. Since there are tons of metrics and measures, choosing the metrics and measures that are essential to calculating your KPIs is fundamental to good, useful reporting.
There are often a number of metrics that have no impact on how our business is performing. It may be hard to re-evaluate reporting, however removing these extra figures can paint a clearer picture.
Delving into your KPIs and building reports around them aims to not just monitor progress, but to point to opportunities.
Metrics and measures
Measures are the raw data that we have access to from our tool and platforms. They are the lowest level of the goal strategy and need to be combined or chicagobusiness related to each other in order to be utilized for KPIs and CSFs.
We collect measures across our available data sources so we can build metrics. Examples of measures include visitors, page views, and cost per click.
Metrics use the measures that we collect and calculate them into reference points. We express metrics as percentages, averages, ratios, or rates.
Examples of metrics include:
Average pages viewed per visitor
Percent of organic traffic of all traffic
Remember that your metrics and measures are the building blocks of your KPIs. The key performance indicators tell you how effectively you are meeting stated goals and and objectives and should be measured often. Let’s talk about choosing the right KPIs for your goals.
Which metrics matter: Metric basics for any marketer
The trick to navigating this sea of data is figuring out what is important to your business and what is not. Since every business is different, there is no “right answer” for which KPIs to track and what can be ignored. If you haven’t already, deciding what KPIs matter for your business (and why) is a great place to start. Before digging into repor
Overwhelmed with SEO and content tools?
Keeping up with never-ending algorithm changes, updates, and new practices is a core part of an SEO’s job. Wrangling multiple tools and trying to find an enterprise platform that fulfills all of the functions you need is a another full time job. How do you choose the right tool for your needs now, that will also work with the organization’s needs as it grows?
We walk through a set of considerations for choosing the right SEO tool(s), and how to navigate feature and functionality options.
Considerations for choosing a SEO tool
Choosing the right search and content platform helps you gain valuable insights and stay on top of market, algorithm, and competitor changes. Perhaps you’ve already looked into tools or are using some already. With so many options available on the market, and new tools available constantly – there are many factors to consider in making the best choice.
Let’s look at what most SEO tools offer, and why it matters to you.
Keyword insights
Keyword tools may be stand-alone offerings or part of a larger platform. If you’re looking for keyword insights, there are core elements tools typically offer. For example, our Demand Rankings tool is a rank monitoring tool that also fits into the larger cn numbers Demand Sphere platform. When you’re considering a platform, it is important to consider the flexibility and scale of the platform over the long term.
Rank tracking
Keyword rank tracking often provides the first sign of changes impacting your site, traffic, and conversions. Whether you’re seeing a drastic dip, a meteoric rise, or a steady climb can divulge details into your content’s performance and opportunities for improvement.
Rank tracking tools may provide daily, weekly, or monthly updates on your content’s SERP performance. Our recommendation is daily rank tracking, or at least thrice weekly tracking, regardless of the volume you’re tracking. Daily rank tracking gives you 30 data points per month instead of four or just one. A few other things we really like about daily rank tracking:
It alerts you to the impact of algorithm changes or tests quickly
You can see if a ranking boost or decline is the result of a short term test and back to “normal” within a day or two – as opposed to waiting another week or month for an update
You can track the rank of competitor content daily, seeing how their newly created content and optimizations have changed your position and traffic
Track the progress that optimizations are making to your content’s traffic and conversions more effectively
daily keyword rank tracking
When choosing a tool, be sure to consider not only how frequently they’re tracking SERPs but also whether they’re tracking your competitors. (More on that below.) Y0u also want to ensure you’re getting the most search engines and devices tracked for your budget. Let’s dive into that in more detail…
Search engines, devices, and locations
You’re tracking keywords, but across which search engines? How many devices? In specific locations? If you’re in the market for a tool, or already using more than one, are you getting the most for you money?
Search engine specification for companies operating locally are often specifically targeting Google, however larger organizations and e-commerce may need more. These organizations may need Google and various local instances of Google, such as Google UK. There is also often a need to track entirely different search engines, such as Baidu.
Another consideration is a more hyper-local approach. For example, you may be targeting the Atlanta area differently from Nashville and need to understand how the two locations need specific content. You may also be targeting the Atlanta area and want to see how Buckhead, Marietta, and Alpharetta perform as suburbs of the greater metro area.
Don’t forget about device-level monitoring as well
Within each search engine and location, you should be able to segment mobile, desktop and tablet performance. Tools like Demand Rankings will let you target iPhone, iPad, and Android devices to understand consumer behavior at a more granular level.
New types of search engines: Amazon, YouTube, and Pinterest
Search engines aren’t just search engines anymore… As social media and e-commerce platforms expand to create their own relevance matrix, they become their own search engines. Amazon’s A9 algorithm ranks sellers product relevance differently than Google, although there is connective tissue between them. There are also valuable learnings to be gained by implementing a cross-optimization strategy for Amazon and Google.
amazon search rank tracking for SEO and marketing
YouTube and Pinterest are also working to showcase content based on individuals past search history, likes, and sharing strategies. Serving up image and video content that matches interests and steers consumers toward new products and ideas.
If you’re present on Amazon, YouTube, or Pint