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How to Determine the Right KPI (for Beginners)
A Guide to Learning How to Set Key Performance Indicators (KPIs) for Beginners
What KPI Stands for is Key Performance Indicator
Key performance indicators are excellent tools to get a snapshot of how well your business is performing. KPIs aren’t just all the numbers available, though. You have to determine the right KPI based on your goals and objectives. Here I’ll talk about things like which KPI is used to reduce cost, which KPI executives will be more responsive to, and if KPIs are still relevant.
The examples used will be tailored towards social media and marketing because that’s my area of expertise, but they can apply everywhere.
Are KPIs Still Relevant?
Almost everyone you speak to will not be a fan of KPIs. It seems like everything a business does is just to get numbers (KPIs) up, and they don’t seem to care about the unquantifiable things.
While this is true, it’s also very difficult to assess and evaluate progress without a mode of comparison. KPIs are a simple tool to use to judge growth because the numbers are defined and easy to calculate. Attempting to quantify and analyze the emotions of customers, for example, is much more…
