KPI ConundrumDigital Direct Marketing, Marketing Analytics, Direct Q&A
Question: I’m working on setting up a new digital campaign. I know what our goals are but I’m not really sure what the difference is between my goals and KPIs. What’s worse is that I’m not even sure exactly what the difference is between a KPI and a goal, and how I make sure I’m setting myself up for success. — KPI Conundrum
It’s great to hear that you know what your goals are, that’s half the battle! You need to set clear, concise goals before you set Key Performance Indicators (KPIs). KPIs are tactical metrics for how you will determine whether or not you were successful in achieving your goals. To simplify — goals are the what and the why, and KPIs are the how!
“I think about campaign KPIs as gauges or measurements that provide meaningful, relevant data that can be monitored on a regular basis,” says Renee Mezzanotte, EVP of Client Engagement at DMW. “Tracking these measurements allow you to optimize or fine tune your campaign to reach your goals.”
When setting up your goals and KPIs you need to ask yourself pointed questions. For your goals, “What am I hoping to achieve with this campaign? Why am I investing in this marketing effort?” Then you can identify what your KPIs are by asking yourself: “How will we know the investment in this campaign was successful?” and “How will we know we are on track to meet our overall business goals?”
Ensure that you’re measuring for success for your next digital campaign with this helpful key metrics checklist.