Blog Gold 2010: The only KPI that matters…

I wrote back in December 2009 about conversion being the only KPI that matters. Any activities that don’t drive customer engagement and uptake with your business are a cost not an investment.

It is very easy to be seduced by statistics, to keep yourself busy, and to convince yourself, your team, your subordinates and your management, that everything is measurable.

You can track advertising responses by keeping an eagle eye on reader enquiries or logging responses to a campaign landing page. For PR you might compare column inches as advertising equivalent value and opportunities to see, extrapolating circulation to give an idea of visibility.

You can monitor traffic flow on your website by considering entry and exit data, hot and cold spots, time spent, pages viewed, number of return visits, sign ups and registrations, downloads, comments and forum postings.

For emarketing and online advertising you can reference open and click through rates. For exhibitions you can log booth visitors, enquiries and orders. You can monitor ‘social’ media by keeping an eye on fans, follows, friends, connections and links.

Don’t be the busy fool. Sure, all these will help refine your marketing, but at the end of the day marketers need to remember you are, for the most part an employee of a commercial business. If you don’t convert interested parties, you won’t be in business for very long. All your efforts should be focused to that single KPI of converting – whether it is selling, selling more, selling frequently and repeat selling.

Whether you are into product, service, information, price comparison, subscriptions it really doesn’t matter. You need to drive prospects through the line from unaware to awareness, engagement, trust, conversion and advocacy to stand a chance of making your business a success in 2010.

I view most KPIs as a distraction from the main objectives and that most readers of this blog should however avoid nice to have, time sapping fluff and focus on conversion.

Originally posted 18 December 2009. Image courtesy of Scyong

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