A key performance indicator (KPI) is a measurable value which shows how effectively an organization achieves its key business objectives. KPIs should be specific, measurable, attainable, relevant, and time-bound. In other words, a good KPI should be clearly defined, able to be quantified, achievable, aligned with the organization's goals, and measured over a specific period of time.
KPI tracking allows organizations to monitor progress toward their goals, identify areas for improvement, and make data-driven decisions. As a result, it is a crucial tool for evaluating the effectiveness of business strategies and for identifying opportunities for optimization and growth.
By identifying specific, measurable, attainable, relevant, and time-bound (SMART) KPIs, organizations can set clear goals and objectives for themselves. This helps to ensure that everyone is working towards the same objectives and that progress can be easily tracked.
By regularly tracking and measuring KPI, organizations can monitor their progress towards their goals and identify areas for improvement. This can help organizations to make timely adjustments to their strategies and tactics to stay on track.
By analyzing KPI data, organizations can make informed, data-driven decisions about their business. This can help organizations to optimize their operations, improve efficiency, and increase profitability.
By setting and tracking KPIs, organizations can identify and address areas of underperformance. This can help organizations to improve their overall performance and achieve their goals more effectively.
Below are some KPI metrics that a mobile marketer should consider tracking:
