KPIs are essential for businesses to track progress toward their goals. They can be used to measure progress in any company area, from sales and marketing to product development and customer satisfaction. By tracking KPIs, businesses can identify areas that need improvement and take steps to correct course.
Businesses can track a few different types of KPIs, depending on their goals. Some common KPIs include:
- Sales numbers: This is often the most critical KPI for businesses that rely on selling products or services. Sales numbers can be compared weekly or monthly to see if the company is growing.
- Website traffic: For businesses that rely heavily on their website, tracking how much traffic it gets is essential. This KPI can be used to gauge how effective marketing and advertising campaigns are.
- Conversion rate: This measures how many people who visit the website actually take the desired action, such as making a purchase or signing up for a newsletter. A low conversion rate can indicate a problem with the website or the products/services offered.
- Customer satisfaction: This KPI is important for all businesses, as it measures how happy customers are with the products or services they've received. Businesses can track customer satisfaction using surveys or other feedback mechanisms.
Businesses can track many other KPIs, depending on a companies goals and needs. The important thing is to choose KPIs that will help the business track progress and identify areas needing improvement. By tracking KPIs, businesses can ensure they are on track to reach their goals.
Related Blog Articles
CRM Systems for SMEs
As a business owner, you know the importance of managing customer relationships. An effective Customer Relationship Management (CRM) system is essential for any small to medium-sized enterprise (SME). CRMs enable businesses to store and manage customer data, track sales leads, and automate marketing campaigns from one central location.With a CRM system, SMEs can eliminate manual processes associated with managing customers, such as relying on salespeople’s notes or spreadsheets, instead of...
Guide to PEPPOL e-Invoicing
PEPPOL is more than an e-invoicing standard: it is a way to streamline global trade. Its adoption enables companies, large and small, to navigate the complexities of international transactions with ease and efficiency.It offers multiple benefits, such as the automation of e-invoicing, which minimizes errors and increases productivity. Especially for large companies with significant transaction volumes, this can translate into significant cost and time savings.PEPPOL's universality also simplifies cross-border trade,...
Data-Driven Decision-Making for Business Success
In the digital age, data is the key to success for any business. Companies must effectively use internal and external data sources to make informed decisions that will lead to improved performance. From ERP and CRM systems to industry experts like Gartner, MoreThanDigital Insights, and McKinsey, various data sources can help companies make better decisions. Let's dive into how businesses can leverage these resources to drive success.Related SIX ERP Solutions:
Related SIX ERP Features:
Want to see SIX for yourself?
Need help, have questions or want to get a free demo?
Please read our Privacy Policy on how we process personal data. We will never share your data!
