Afternoon sessions are kicking off here at the IMC with Anil Batra: “Learn what Key Performance Indicators (KPIs) are, how theyâ€™re defined, what the difference between a KPI and a metric is, and how to effectively present KPIs.”
From wiki: “Key Performance Indicators (KPI) are financial and non-financial metrics used to help an organization define and measure progress toward organizational goal.”
Anil is saying marketers need to determine business goals, have a road map to anywhere. What is the purpose of your site? What do you want users to do with your site? Who are the visitors? What do you want them to do once they leave the site? Have a clear vision and be accountable.
When analyzing the effectiveness of a web presence, look beyond visitor numbers. Success needs to be measured in so many different ways.
What is the business and what are you trying to drive? You could get 100,000 impressions on your website but the bounce rate is 90% – would this fit your goals?
“All KPIs are metrics but NOT all metrics are KIPs.” KPIs provide a view into the business and are tied into business goals.
I’m just reading up on Anil via his blog and have found some interesting white papers he/his company have produced.
Anil’s focus is on doing more with stats; how to manage numbers and information that you gather with analytics and what you need to grasp as good data for a campaign. Cost per visitor? Percent of new visitors? Ratio of returning visitors? Conversion rate? Try not to be blinded simply by certain numbers.