Updated: Feb 12
Keep Pies Indoors? Karate Punch Interns?
These may feel like genius ideas, however they are not the KPIs that are going to help you to grow your business.
Businesses make sure they’re reaching their goals by defining and tracking Key Performance Indicators (KPIs).
Why Do I Need KPIs For My Tech Business Marketing?
When you develop a Marketing Strategy for your technology company, whether it be for a software or an artificial intelligence firm, you will ideally set clearly defined goals.
If you want to work out whether or not you're on track to reaching your goals, you need to take a leaf out of José Mourinho's book, and measure your goals!
Not a soccer fan and don't understand the reference? Let's put it this way then. If you're gonna shoot for the basket, you're gonna have to know which puck will get that sweet home run!
Confused? Me too... Let's work this out together...
According to Digital Marketing for Dummies, KPIs allow technology companies to measure the success of their marketing strategies based on their customer’s habits.
Does your customer have a habit of flicking the light on and off 15 times before they leave a room otherwise their family will be in mortal peril?
Yes? Well, apparently that is useless information and the right kind of habits are actually things like:
How to measure an increase in brand awareness?
Social media shares, social media likes, email forwards, referral links
How to measure an improvement in customer retention/loyalty?
Bounce rate, followers, retention rate
How to measure an increase in engagement?
Comments, downloads, page views, back links, click through rate
KPIs should not be confused with the goal itself. The goal is the one in Bold.
So, there we have it. Another hole-in-one for the Quarterback as he knocks it out the park!
Another thing to add to your Marketing Strategy!
Whether you're a cuddly blockchain business, sexy software developer or you really get turned on by Managed IT services, you'll need to write down clearly your Goals and the KPIs needed to Measure them.
So hang up that Karate Gi and tell your intern to stop hiding behind the curtain. It's time to bring in the pies because you have a plan!
DISCLAIMER: Don't punch people at work, or ever.
We are ORLA and we specialize in making stunning videos for tech companies. We have worked with clients all over the world involved with blockchain, artificial intelligence, the internet of things, renewable energy, SaaS and much more.