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Recession readiness hack: If you don’t measure it, you can’t improve it

The modern marketer has a myriad of tools and data that they can use to measure their efforts. A challenge that we see many times is a lack of clarity on what success metrics they should be measuring. Establishing what metrics matter and defining your key performance indicators (KPIs) will ensure your activity and business goals are aligned to achieve the right outcomes.

When setting your KPIs avoid ambiguity and vanity metrics, vanity metrics are metrics that make you look good to others but do not help you understand your own performance in a way that informs future strategies. For example, instead of ‘more website visits’ instead, focus on ‘5% growth in website visits with a 13% form conversion rate from your key personas’. This will give your teams a clear goal to work towards and an understanding of the data they need to collect to report against these KPIs. Ensure there’s a clear cascade down from your annual goals and KPIs, to your key initiatives, programmes, and projects.

Here’s a checklist to ensure your KPIs meet the mark:

  • Does your KPI align with your business goals?
  • Have you removed any vanity metrics?
  • Does your KPI tie back into what you want to achieve?
  • Are you able to measure your KPI?

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Alexandra JefferiesRecession readiness hack: If you don’t measure it, you can’t improve it

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