Do you know what are the biggest mistakes companies make when working with ' ?<\/p>\n\n\n\n
When you read or hear about a KPI, you most likely assume it is a well-known topic and think you have everything under control, however, this familiarity can lead you to make some mistakes. Here are the biggest mistakes we've seen companies make time and time again when implementing their KPIs:<\/p>\n\n\n\n
1. Measure everything that \"moves and walks\":<\/p>\n\n\n\n
If KPIs are misaligned or do not point to key or strategic business objectives, then you need to understand that you should not measure everything that is measurable and easy to measure. Just because you have more metrics does not mean you will meet your key goals and objectives. <\/p>\n\n\n\n
2. Use Vanity Metrics as KPIs:<\/p>\n\n\n\n
Vanity metrics are great for getting attention and impressing others, but they are not going to help you pay your bills, pay your suppliers or generate profits.<\/p>\n\n\n\n
A vanity metric is not bad, what is bad is not validating its impact or contribution to achieving key business objectives, e.g. page views is a vanity metric if you analyse it in isolation, but when you cross it with leads generated or sales as a whole, it becomes a conversion rate KPI.<\/p>\n\n\n\n
3. Use KPIs as targets:<\/p>\n\n\n\n
KPIs are not targets, KPIs are a way of verifying that you are achieving your key business objectives, so when you turn KPIs into targets, they stop working properly and what happens is that our creativity in manipulating metrics AND we look for ways to make them work in our favour, especially when there are financial incentives and bonuses associated with these KPIs.<\/p>\n\n\n\n
4. Many outcome KPIs or lagging KPIs, few driver KPIs<\/p>\n\n\n\n
Obviously, you must have some performance KPIs to measure the success of the business, but the thing about these is that once you get them you can't fix them, they are history. By contrast, driver KPIs are influential and actionable, allowing you to correct deviations in time to achieve your objectives.<\/p>\n\n\n\n
5. Failure to analyse and monitor KPIs<\/p>\n\n\n\n
KPIs exist to analyse and extract insights and key information for action and decision making, which should be part of the daily dynamics and language of the business.<\/p>\n\n\n\n
Have you ever made any of these mistakes and do you think we are missing something?<\/p>","protected":false},"excerpt":{"rendered":"
\u00bfSabes cu\u00e1les son los mayores errores que cometen las empresas cuando trabajan con \u2019 ? Cuando lees o escuchas sobre un KPI, lo m\u00e1s probable es que asumas que es un tema muy conocido y crees que tienes todo bajo control, sin embargo, esta familiaridad puede llevarte a cometer algunos errores. A continuaci\u00f3n detallamos los […]<\/p>\n","protected":false},"author":1,"featured_media":1430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[12,15,43,27,21,13],"class_list":["post-1429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-community-manager","tag-google-ads","tag-kpi","tag-marketing-digital","tag-seo","tag-social-media"],"yoast_head":"\n