Tips For Creating Mobile KPI’s
- KPI’s are required for all mobile marketing campaigns. — KPI’s are your mobile marketing promotion’s report card. They need to be part of every campaign that you do.
- KPI’s must be set in advance. — All aspects of KPI’s should be set in advance of the mobile marketing promotion. If this isn’t done, then you can change the rules of the game after the fact to make your promotion look better than it actually was.
- The most important KPI’s must be based on past experience. — In the insurance industry, for example, tap through rate has not proven to be a prominent indicator of life insurance sales (Allstate). So, it should not be a KPI that a mobile marketing strategy will strive to improve.
- You must first get management approval. — Prior to launching your mobile marketing campaign, you will want to get management to agree that your KPI’s make sense to the overall goals of the business. If not, you may be pleased with the ultimate performance, but management may not be. For example, you may go to the boss excited that you have 500 new Facebook business page Likes, but the boss shows sales figures that are flat and wonders how that will translate to increased sales.
- KPI’s must be easy to understand. — Marketing, engineering, and finance personnel are going to be reviewing KPI’s. Make sure that each can easily understand them and their importance.
- KPI’s must be easy to evaluate. — If you need to run complicated reports to get results, then your KPI’s are too complex.
- KPI’s must have a means to be evaluated. — When establishing KPI’s, you should state exactly how you will evaluate it. For instance, if your KPI is to “increase foot traffic by 10%,” you will want to explain how you will ultimately find if you met that goal or not. Was somebody counting the number of people that will walk through the door every day? I doubt it.
- All KPI’s must be statistically measured. — Every KPI must be based on statistics. “Improve brand awareness” is not something that you will be able to evaluate statistically. If, however, you provide a survey of customers before and after the mobile marketing promotion, this may be a way to statistically evaluate such a KPI.
- All KPI’s must have an established baseline. — Every KPI must have a baseline that you are hoping to improve on. For instance, if your mobile advertising KPI is “increase tap throughs by 10%,” you should have a baseline for this. Increase by 10% over what period? Last month? The same month last year?
- Different KPI’s must be present throughout the campaign. — At the end of the promotion, usually the most important KPI you seek is increased sales. But, that KPI may not be immediately available and you can’t wait until the end of the promotion to make enhancements to the strategy. Therefore, KPI’s must be set all along the promotional timetable. An early KPI in an SMS promotion, for instance, might be to “increase your SMS database by a net of 350 new opt-ins versus the baseline of July 1, 2017.” But, improved sales from those opt-ins may not be readily available until months later. The premise is that if you hit all of your early and mid-promotion goals, the end goal of increased sales will likely be attained.
- Establish goals for all of your KPI’s. — Every KPI you establish must have a corresponding goal. You can’t just say what you plan to evaluate; you have to also know what number needs to be obtained to deem the KPI a success.
- You need to establish what determines your overall success. — You will need to establish KPI’s prior to the start of the mobile marketing campaign. Each KPI will have a goal. But, what is the definition of the overall success of the campaign? Do you need to hit all of your KPI goals for the program to be deemed successful? Or, if you obtain 75% of the goals will you deem the promotion an overall success?
Want to read more about how to create key performance indicators (KPI’s) as they pertain to mobile marketing. Most of this information is available in my mobile marketing book Relevance Raises Response: How to Engage and Acquire with Mobile Marketing.
Need help in formulating your key performance indicators for your next mobile marketing campaign. Contact The Purplegator for tips on how to establish your own KPI’s.