KPIs (Key Performance Indicators)
/It's always fun to talk about big ideas and sometimes just as fun to implement them, but are you measuring whether or not those big ideas actually worked? With some areas this is easy to determine. If a marketing email is sent out with a new format and there are more opens, click throughs, etc, then you know that there's something to the new format. Of course, you'll need to keep testing to make sure that it wasn't a fluke, but that's a different article.
What does this look like? Since most of us have sent out marketing emails, I'll stick to that topic. With KPIs there's a few things to look for in emails. These things can give you a good idea of whether or not what the new format is working. Those things are:
- Open Rate
- Click Rate
- Delivery Rate
- Opt-outs
- Shares
- Sign-ups
These are great areas to observe, but of course we can and should get more detailed and more specific with why we're looking at these figures. For instance, don't just look at the open rate, see that it's been consistently higher, and then call it a day. Instead, set a goal that you want the open rate to increase by a specific percentage and then list some ways that you think will help you accomplish that goal.
What to remember: Testing is everything. Set goals and ways that you think you can accomplish those goals and be realistic about the fact that you may have to change the strategy.
