The success of any marketing campaign lies in key performance indicators (KPIs). But before establishing your KPIs, it’s important to identify your target audience first.
KPIs typically ensure business objectives are met in three key areas—marketing, sales, and user experience (UX). While they allow businesses to identify their significant achievements, they also help pinpoint weak areas in their digital efforts. KPIs give companies a better understanding of their goals at large while also providing a clear picture of what's working and what isn’t.
Since every business has its own slate of priorities, goals, and objectives, KPIs will be different across organizations. Selected KPIs often depend on the industry a company belongs to as well the marketing vehicle itself.
For example, e-Commerce websites adopt KPIs that include completion rate, average order value, customer retention rate, and cart abandonment rate. B2B websites tend to have KPIs that prioritize brand awareness and lead generation. Their success metrics revolve around bounce rates, average session duration, file downloads, and email subscriptions, among others.
Above all, for KPIs to become more effective they must be based on a company’s target audience. Thus, in choosing metrics, identify your target demographic first. Who are you communicating with? Who do you plan to reach? What actions would you like them to take? It’s from there that you begin to build your KPIs.
Having a clear understanding of who you’re targeting allows you to determine what you, as a business, need to effectively measure. Ultimately, in determining your KPIs, your best yardstick is the type of users with whom you associate your goals of success.