By Think Your Media/2 November

These are some measurable Important KPIs that companies should keep in mind this festive season to maintain good engagement and good work. See your business grow!

KPIs are a form of measurement that helps businesses track their objectives. It gives the company an understanding of the basic day-to-day activities well-acquired or performing well for achieving the objectives or not. 

Every business should measure their progress on time to achieve the target. It basically helps understand what the company should do more often and avoid some. Optimizing the marketing approaches and having a clear budget for each campaign and what goes best for the campaign - you get a clear vision of what to do that can lead to the objective. So let us take you through how you can take the festive season as a good option for your business growth with measurable KPIs.

  • Sales Growth KPIs: This is a form of measuring the differences in revenue generated between two fiscal years and it gives an overview for execution changes needed in the business strategy if not done in time then competitors can take over the place. You get an idea of how much total revenue is used through marketing strategy. Firstly, set a target to compete quarterly, weekly, or monthly and put such lead as a specific area to come from and then measure the qualified leads that came from -not all leads are positive, right? So, understand whether qualified stage leads are working well or not because you need to figure out what percentage of it turns into sales. Use the festive time as an advantage to generate revenue with good deals and discounts and set a target to achieve. Trying to understand the sales cost-driven to positive sales ratio can help businesses make informed decisions.  
  • Marketing KPIs: is one of the metrics that give an understanding of the marketing campaigns. Sales and marketing KPIs are important to stay ahead of the gap otherwise can take your business down in one go. So make sure to measure it. Return on investment is a crucial part of measuring the business investment in a marketing campaign. A positive ROI is the best success one business can obtain. Return on investment equals total revenue minus total cost divided by the total cost x 100. During festive time, marketing KPIs should measure the impression on the post and per-click to understand how much engagement it has during the season when most competition of a single click takes place every second. And then tracking such impression help marketers get an insight into the marketing campaign run by the team and then help get organic and targeted customers. Click-through rate plays an important role as it helps in getting interested customers by measuring the clicks divided by impression x 100. And use cost-per-acquisition as a part of finding the actual cost to onboard a customer so the lower the CTA the higher the ROI. keep in mind the social media traffic website traffic and blog content according to the festive can give more engagement during the festival time. 
  • Human Resource KPIs: companies can measure KPIs related to their employee. It is one of the important measurements to keep on as HR KPIs can help understand what are best returns coming from business investment. It helps give a clear perspective of turnover that is how many employees have left over the period and if the turnover is higher then the business should focus on the company work culture and the compensation and all the other factors that are affecting these higher turnovers. Secondly, the non-presence of the employer due to being sick or on holiday or any other reason so the Absenteeism rate is the best indicator to measure it and make the changes accordingly. Thirdly, measure the employees working for extra hours to are they burned taking things slowly or learning new ways or anything. Understand the employee satisfaction areas or understand how employees are reacting to different areas of the company. Check the dismissal rate and duration in the position. 
  • Customer Service KPIs: this helps give an insight into the issues and support drives from customers from weekly to monthly to yearly. The first response time can be used to measure the client support effectiveness, timely response can help give a good impression on the customers. Consistency resolution should be there from chat to email to WhatsApp doesn't matter what the platform it is timely consistent resolution gives a good impression to the customers. And understand how fast the issues can be solved. 

These are some measurable Important KPIs that companies should keep in mind this festive season to maintain good engagement and good work. See your business grow!

Are you still not clear? Then we are here to help you. Contact us now! and see how your business stands out unique in this crowd.