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Define your Marketing Performance Indicators (MPIs or KPIs)

Marketing Key Performance Indicators (KPIs) are quantifiable targets that are used:

  1. To translate complex measures into a simple indicator that allows decision makers to assess the current situation and act quickly.
  2. To measure success against your objectives.  

Examples of the kind of indicator might be loyalty, conversion and referral rates. 

Always begin the construction of KPI’s with a clear understanding of the desired results. There’s nothing wrong with starting by saying you want to sell more of what you make. But try to be a little more specific. Do you want to, for example:

  • Shorten the sales cycle by half?
  • Generate 50% more leads?
  • Create a new usage occasion?
  • Get loyal customers to buy 30% or more?

If you are clear about where you are going, you can construct KPI’s that get you there.