{"id":62658,"date":"2019-03-12T20:47:28","date_gmt":"2019-03-13T03:47:28","guid":{"rendered":"https:\/\/www.bruceclay.com\/au\/\/?page_id=62658"},"modified":"2024-01-05T13:53:43","modified_gmt":"2024-01-05T02:53:43","slug":"kpi","status":"publish","type":"page","link":"https:\/\/www.bruceclay.com\/au\/analytics\/kpi\/","title":{"rendered":"Key Performance Indicators"},"content":{"rendered":"<hr \/>\n<p>Your key performance indicators (KPIs) should be based on your<br \/>\noverall business goals and the role your website plays in achieving<br \/>\nthose goals. KPIs should be company specific and not influenced by<br \/>\nindustry averages or your competitors&#8217; KPIs.<\/p>\n<h2 class=\"sIFR-replaced\"><span class=\"sIFR-alternate\">What are Key Performance Indicators?<\/span><\/h2>\n<p>Webopedia defines them thusly:<\/p>\n<blockquote><p>&#8220;KPIs, or key performance indicators, help organisations<br \/>\nachieve organisational goals through the definition and measurement of<br \/>\nprogress. The key indicators are agreed upon by an organisation and are<br \/>\nindicators which can be measured that will reflect success factors. The<br \/>\nKPIs selected must reflect the organisation&#8217;s goals, they must be key to<br \/>\nits success, and they must be measurable. Key performance indicators<br \/>\nusually are long-term considerations for an organisation.&#8221;<\/p><\/blockquote>\n<p>Let&#8217;s summarise the important points of this KPI definition:<\/p>\n<ul>\n<li><strong>Organisational Goals:<\/strong> It is important to<br \/>\nestablish KPIs based on your own business goals rather than standard<br \/>\ngoals for your industry. Expanding on this, a company whose goal is &#8220;to<br \/>\nbe most profitable&#8221; will have different KPIs than a company who defines<br \/>\ntheir goal as &#8220;to increase customer retention fifty percent.&#8221; The<br \/>\nfirst company will have KPIs related to finance and profit and loss,<br \/>\nwhile the second will focus on customer satisfaction and response time.<\/li>\n<li><strong>Measurement Purpose:<\/strong> It is important to analyse<br \/>\nKPIs over time, allowing you to make changes to improve website<br \/>\nperformance \u2013 then periodically reevaluate performance to verify<br \/>\nprogress. For this reason, KPIs must be measurable. The goal &#8220;increase<br \/>\ncustomer retention&#8221; is useless because there is no quantifiable goal,<br \/>\nwhereas the aforementioned goal, &#8220;to increase customer retention fifty<br \/>\npercent&#8221; has a definite quantity that can be tracked.<\/li>\n<li><strong>Goal Continuity:<\/strong> KPIs are long-term considerations<br \/>\ndesigned to help with strategic planning. While it is important to have<br \/>\ntargeted goals, they should be incremental to an overall success.<br \/>\nSimply because something is measurable does not mean that it is<br \/>\nsignificant enough to be a key performance indicator. You must define<br \/>\nyour KPIs and keep their measure the same from year to year. Not that<br \/>\nyou can&#8217;t adjust your goals, but you should use the same unit to measure<br \/>\nthose goals.<\/li>\n<li><strong>Managerial Consensus:<\/strong> It is important to have all<br \/>\nmanagers on the same page because personnel from different functions<br \/>\nwithin your company will help create the KPIs. If your KPIs truly<br \/>\nreflect your organisational goals then it is necessary for all levels of<br \/>\nyour company to get with the program. Encourage company unity and<br \/>\nenthusiasm for the project and make sure that everyone knows what the<br \/>\nKPIs are.<\/li>\n<\/ul>\n<h2 class=\"sIFR-replaced\"><span class=\"sIFR-alternate\">Regular KPIs<\/span><\/h2>\n<p>While it is desirable to create very specific KPIs for your business,<br \/>\nthere are a few metrics that qualify as regular key performance<br \/>\nindicators. These include the KPIs for <a href=\"https:\/\/www.bruceclay.com\/au\/\/analytics\/reachmetrics\/\">measuring reach<\/a>, acquisition, <a href=\"https:\/\/www.bruceclay.com\/au\/\/analytics\/measureconversions\/\">conversions<\/a>, and <a href=\"https:\/\/www.bruceclay.com\/au\/\/analytics\/retention\/\">retention<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Your key performance indicators (KPIs) should be based on your overall business goals and the role your website plays in achieving those goals. KPIs should be company specific and not influenced by industry averages or your competitors&#8217; KPIs. What are Key Performance Indicators? Webopedia defines them thusly: &#8220;KPIs, or key performance indicators, help organisations achieve [&hellip;]<\/p>\n","protected":false},"author":101022,"featured_media":0,"parent":62564,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"tags":[],"class_list":["post-62658","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<title>Understanding Key Performance Indicators (KPI) and Web Analytics | Bruce Clay Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bruceclay.com\/au\/analytics\/kpi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Understanding Key Performance Indicators (KPI) and Web Analytics | Bruce Clay Australia\" \/>\n<meta property=\"og:description\" content=\"Your key performance indicators (KPIs) should be based on your overall business goals and the role your website plays in achieving those goals. 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