Formulate KPI’s To Result in a Group Success & Strengthen Departments
For a business to be successful, they have to truly understand their customers. This isn’t just a job for the marketing team, but for the entire business, especially senior management. Key Performance Indicators can be used to measure intangibles such as consumer engagement. These metrics can help to strengthen a business at every level, and lets the company know if they are going in the right direction.
First of all, let’s talk about the benefits of social when it comes to interacting with consumers. Today, with the advent of social media, the average consumer expects to be able to communicate with, be heard by, and get a personal response from their favorite brands. You need to be able to handle the sheer volume of interaction that comes from this and also keep track of how these interactions relate to consumer perception of your brand.
Back in the day, consumer experience was all about a TV ad or how they were treated while doing business with your team. Now it is an ever continuing process involving digital media campaigns and constantly flowing content that needs to keep the audience engaged and thinking about your brand 24/7. This is a great opportunity to build a personal relationship with a customer that results in their remaining a loyal customer for life.
With that in mind, the marketing department needs to collaborate with your other departments more than ever before. They need to work with the sales department to define goals when it comes to lead production, they need to work with IT for the sake of ever changing needs in the realm of digital marketing, and they have to stay in touch with upper management and regularly provide reports that show trends, ROI, and other valuable metrics.
Digital marketing has really fragmented into 3 interconnected segments: Internet, mobile, and social. Websites are the lifeblood of modern corporations. Do you know how yours is performing? Is your business equipped to track app usage and make a profit from things like in-app purchases? Are there protocols in place to deal with disgruntled consumers on social media?
Analytics bridge the gap between companies and consumers. They let you know when a campaign hit your target audience, if your web design is easy to use, if your web content is considered authoritative or interesting, and what direction your customers want to see your app go in future updates.
