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Your NetSuite Might Be Underperforming, Here’s How to Tell
Most businesses go live with NetSuite… and then stop measuring what actually matters. If your processes aren’t faster, reports still need Excel, or teams avoid the system, - something’s off. Here are the key KPIs that reveal whether your NetSuite is delivering real value (or just sitting there).
How do you measure social? Thankfully this is where KPI metrics come to the rescue. Check out which ones you should learn to avoid.
SMART Goals and Company’s Objectives
SMART goals are goals set by a company to improve, for instance market performance or sales. The goals are set mostly at the beginning of a new period, often connected to a new strategy and tactic. A company has to set SMART goals. Why? The most common mistake made by managers is that the idea or goal is too vague. If the goal does not include facts and figures, it will be difficult to actually track the results and know when the goal is actually achieved. Therefore, the goal must be specific (include the exact wanted outcome), measurable to prove improvements, attainable, so it is realistic to expect a success, as well as relevant. If the goal does not matter to the company, why would it be set it in the first place? And lastly, the goal must be time based, so the managers know when to expect a change and to know to when the goal must be achieved.
A goal could be a 25 % increase in market share until the end of the fourth quarter in 2016 by increasing investments in marketing and raising awareness through online media platforms.
Another way to set goals is to first think about the objectives of a company. Objectives are the desired change or improvement for a company. For example, Airbnb is launching a new online marketing campaign. To be able to understand how the campaign actually influenced the performance, objectives have to be set.
The objectives could be to increase online booking, increase of website traffic and a decreased time taken for finding a matching host. Another objective could be the increase of new users and a raise in number of hosts registered.
The goal is to book a room over the Airbnb website.
The related Key Performance Indicators (KPI’s) to measure the results and to prove that the goals and objectives are met are • The number of new visitors on the website • The average time spend on the website • The number of new registrations • The number of new users • The amount of clicks until finding the right match • The time spend until the time of booking a arrangement with the host
These KPI’s are then being tracked over the arranged time period and prove the outcome of the campaign. The KPI’s do also help to make the right adjustments and to understand the user’s needs and wants better.
yours,
Melanie Oltmanns
KPI y PMO
Cuando una empresa decide crear una PMO el enfoque principal debería ser en los indicadores de valor (value drivers). Hay muchos diferentes KPI's (Key Performance Indicators) indispensables para administrar PMO. Las KPI's más comunes en organizaciones que administran proyectos son:
Entrega a tiempo - número de días de retraso (real vs. planeado)
Consistencia en mejores prácticas de gestión de proyectos
Precisión de presupuesto - costo real vs. presupuesto
Estos 3 KPI's es suficiente para empezar PMO y con el tiempo se puede agregar más indicadores que ayuden alinear las expectativas del cliente con la propuesta de valor de la organización.
New Post has been published on iQube Marketing Limited
New Post has been published on http://www.iqubemarketing.com/75-kpis-manager/
The 75 KPIs Every Manager Needs To Know
Get To Know Your KPI’s
By Bernard Marr
Key Performance Indicators (KPIs) should be the vital navigation instruments used by managers and leaders to understand whether they are on course to success or not. The right set of KPIs will shine light on performance and highlight areas that need attention. Without the right KPIs managers are flying blind, a bit like a pilot without instruments.
The problem is that most companies collect and report a vast amount of everything that is easy to measure and as a consequence their managers end up drowning in data while thirsting for insights. Effective managers understand the key performance dimensions of their business by distilling them down into the critical KPIs. This is a bit like a doctor who takes measures such as heart rate, cholesterol levels, blood pressure and blood tests to check the health of their patients.
In order to identify the right KPIs for any business it is important to be clear about the objectives and strategic directions. Remember, navigation instruments are only useful if we know where we want to go. Therefore, first define the strategy and then closely link our KPIs to the objectives.
I believe KPIs have to be developed uniquely to fit the information needs of a company. However, what I have leant over many years of helping companies and government organisations with their performance management and business intelligence is that there are some important (and innovative) KPIs everyone should know about. They will give you a solid base of knowledge. However, there will be other, more specialised measures designed for your specific strategy or industry context. Take for example the network performance KPIs for a telecom operator or the quality indicators for healthcare providers. These will have to be included in your list of KPIs but will not be found in the list below, at least not in their industry-specific format.
The list of 75 KPIs includes the metrics I consider the most important and informative and they make a good starting point for the development of a performance management system. As a final word of warning: Don’t just pick all 75 – have a look at the list and select the ones that are most important based on your business strategy and information needs. The fewer the better!
To measure financial performance:
1. Net Profit 2. Net Profit Margin 3. Gross Profit Margin 4. Operating Profit Margin 5. EBITDA 6. Revenue Growth Rate 7. Total Shareholder Return (TSR) 8. Economic Value Added (EVA) 9. Return on Investment (ROI) 10. Return on Capital Employed (ROCE) 11. Return on Assets (ROA) 12. Return on Equity (ROE) 13. Debt-to-Equity (D/E) Ratio 14. Cash Conversion Cycle (CCC) 15. Working Capital Ratio 16. Operating Expense Ratio (OER) 17. CAPEX to Sales Ratio 18. Price Earnings Ratio (P/E Ratio)
To understand your customers:
19. Net Promoter Score (NPS) 20. Customer Retention Rate 21. Customer Satisfaction Index 22. Customer Profitability Score 23. Customer Lifetime Value 24. Customer Turnover Rate 25. Customer Engagement 26. Customer Complaints
To gauge your market and marketing efforts:
27. Market Growth Rate 28. Market Share 29. Brand Equity 30. Cost per Lead 31. Conversion Rate 32. Search Engine Rankings (by keyword) and click-through rate 33. Page Views and Bounce Rate 34. Customer Online Engagement Level 35. Online Share of Voice (OSOV) 36. Social Networking Footprint 37. Klout Score
To measure your operational performance:
38. Six Sigma Level 39. Capacity Utilisation Rate (CUR) 40. Process Waste Level 41. Order Fulfilment Cycle Time 42. Delivery In Full, On Time (DIFOT) Rate 43. Inventory Shrinkage Rate (ISR) 44. Project Schedule Variance (PSV) 45. Project Cost Variance (PCV) 46. Earned Value (EV) Metric 47. Innovation Pipeline Strength (IPS) 48. Return on Innovation Investment (ROI2) 49. Time to Market 50. First Pass Yield (FPY) 51. Rework Level 52. Quality Index 53. Overall Equipment Effectiveness (OEE) 54. Process or Machine Downtime Level 55. First Contact Resolution (FCR)
To understand your employees and their performance:
56. Human Capital Value Added (HCVA) 57. Revenue Per Employee 58. Employee Satisfaction Index 59. Employee Engagement Level 60. Staff Advocacy Score 61. Employee Churn Rate 62. Average Employee Tenure 63. Absenteeism Bradford Factor 64. 360-Degree Feedback Score 65. Salary Competitiveness Ratio (SCR) 66. Time to Hire 67. Training Return on Investment
To measure your environmental and social sustainability performance:
68. Carbon Footprint 69. Water Footprint 70. Energy Consumption 71. Saving Levels Due to Conservation and Improvement Efforts 72. Supply Chain Miles 73. Waste Reduction Rate 74. Waste Recycling Rate 75. Product Recycling Rate
source
Download Regalix's complimentary copy of the CMOs guide to Facebook Advertisements. In this guide you will learn about different types of Facebook Ad Units, KPI's, terminologies etc.
key kpi's to measure about your content marketing
With the state of the Internet today, and the importance of digital marketing therein, key performance indicators (KPI) have taken on a greater value than ever before. Whether you're a small business or an established brand, having a solid knowledge of KPIs is essential. Finding the right metrics by which to measure your KPI is important as there are a wide range of metrics, but not all are as valid as you might think. Luckily, we've compiled a list of some of the best metrics by which to measure your content marketing.
How Many Visitors Has Your Content Brought In?
Measuring unique visits is a useful tool to figure out precisely how many individuals have visited your site and viewed your content. While it might not provide much information besides that, it serves as a useful foundation for other tools to compare with.
Where Is Your Content Being Viewed?
Understanding the location of your viewers is an important aspect of marketing because it helps you decide where to allocate your advertising resources to better engage your audience. In fact, Google Analytics provides detailed information on the geography of visitors for precisely this purpose.
How Are Visitors Viewing Your Content?
While detailed knowledge of your visitors can be useful, so too can how they're viewing your content. Are they doing so from a computer or a mobile phone? Understanding the difference between the two and what it means for your content will better equip you for future updates and allow your site to be more user-friendly.
How Long Is Your Visitor Engaged?
The problem with the first KPI, the measure of individual visitors, is that it does not discern a difference between users visiting the site for a brief moment and those that are actively engaged in the content and spend hours on your site. This is referred to as the bounce rate, a crucial factor in determining the success of your content. A high bounce rate indicates that you need to improve viewer retention.
What Parts Of Your Site Are Getting The Most Attention?
Heat maps are an often overlooked tool in determining the effectiveness of your website. By viewing what areas of your site are being clicked on the most, you can rearrange your website's layout to better reflect the portions of your site that are the most attractive to visitors.
How Should You React To Comments?
The Internet has both blessed and cursed people by offering everyone the ability to communicate with complete strangers at any time. Some businesses try to curb this freedom of speech by restricting what can and cannot be posted, but this is a mistake that should be avoided at all costs. Discussions are your best tool for advertising your site and can often lead to sharing via social media sites.
As you can see, there a wide range of available options for those interested in taking their online marketing seriously. With the right tools and metrics, KPIs can not only give you valuable information on your target demographics, but also show the areas that your business can still improve upon. The only thing left to do is get out there and start making content.
randy bowden - t | f | g+
(image:123RF)
Digital KPI's
Key Performance Indicators, also known as KPI are quantifiable measurements that help decision makers define and measure progress toward organizational goals.An example is checkout abandonment, when shoppers exit before completing an order. This KPI should be monitored closely by all e-commerce businesses. If it is typically 10 percent and suddenly goes to 15 percent, that may be an indicator that something is broken on your website, like your SSL, your shipping estimator, or your credit card authorization. By monitoring that KPI daily, you will mitigate the risk of losing business if something breaks.
KPIs vary drastically from one industry to the next. Examples may include load factor and fuel consumption per passenger for airlines and dropped call percentage and customer acquisition cost for wireless carriers. For this reason, KPIs are defined by business users and may be unique to each business.
For strategic and operational planning, KPIs are also used for SMART goals — Specific, Measurable, Achievable, Realistic, Time-bound. As an example, you may want to set a goal to improve your checkout abandonment from 10 to 7 percent in six months. Or, you may want to set customer service goals to reduce the average number of open cases from 10 to 5 in three months.
I'd like to talk more about the KPI by taking Amazon as the example.
Amazon is such a world famous name to all people having access to internet.Amazon.com, Inc. is an American multinational electronic commerce company with headquarters in Seattle, Washington, United States. It is the world's largest online retailer. Amazon.com started as an online bookstore, but soon diversified, selling DVDs, CDs, MP3 downloads, software, video games, electronics, apparel, furniture, food, toys, and jewelry. The company also produces consumer electronics—notably the Amazon Kindle e-book reader and the Kindle Fire tablet computer—and is a major provider of cloud computing services.
To be successful, e-commerce sites should be able to convert visitors into buyers and get them to come back for repeat purchases. For these reasons, e-commerce KPIs should be centered on online conversion and retention strategies. Some of the most popular KPIs within commerce sites include average selling price, visit value, new vs. repeat customer breakdown, average selling price by new vs. repeat customers, and conversion rates. In the e-commerce industry, there are roughly 21 main KPI's to monitor.
Unique visitors
Total visits
Page views
New visitors
New customers
Total orders per day, week, month
Time on site per visit
Page views per visit
Checkout abandonment
Cart abandonment
Return rate
Gross margin
Customer service open cases
Pay-per-click cost per acquisition
Pay-per-click total conversions
Average order value
Facebook “talking about this” and new Likes
Twitter retweets and new followers
Amazon ratings, response and order turnaround time, and open cases
Email open, click, and conversion rates
Referral sources: percent from search, direct, email, pay-per-click, other
Among the indicators above, the Facebook and Twitter staffs are more like social media KPI, while the others are all the digital KPI's. And these are all what Amazon cares a lot. But as a thumb in this industry, Amazon has its own secretary in KPI's. The perfect order percentage and late shipment rate help guarantee the quality of both the products and the service, which later bring Amazon the high satisfaction of consumers and by the end the great success in this industry.
Sources:
http://www.knotice.com/whitepapers/forrester-adapting-measurement/pdf/Adapting_Measurement_For_Digital_Intelligence.pdf
http://practicalanalytics.wordpress.com/2011/08/03/big-data-analytics-and-kpis-in-e-commerce-and-retail-industry/
http://www.digitalanalyticsassociation.org/blogpost/533997/Best-Practices
http://dauofu.blogspot.com/2013/01/5-kpis-for-e-commerce-website.html
