How to Manage KPI
Today, regardless of industry, there’s no denying the importance of data and data reporting when it comes to successful businesses. Whether it’s in regards to strategic or operational processes, a good metric to measure data and Key Performance Indicators is instrumental in a company’s success and growth. Despite this, some companies opt not to measure KPIs as they should, sometimes due to lack of resources or time among other things.
Defining effective KPI metrics is one of the most important steps you can take in regards to increasing efficiency as you scale your business. At UpSource Media, we like to ask our clients, “What’s the value of a lead to you?” – that way we can easily gauge if our service may have the ability to pay for itself in terms of value and if outsourcing as an approach for business growth makes sense for them. Other factors to consider when laying out metrics are short and long term business objectives, accuracy, consistency, and completeness of work, timing of reports, and integrity of the data.
Organization, the Foundation of Productivity
Once you have good KPI metrics in place, the next step is to put a tool in place to organize and review the data and see how it holds up against your original goals. UpSource Media utilizes color-coded Google Sheets for our clients to review in real-time or whenever they please. Having this tool in place and consistent review is hugely important, as adjusting KPIs over the course of the campaign will be necessary for growth. This is made easy with UpSource Media as our client liaison will keep track of all changes and updates to your metrics and ensure they are being met.
From there, you should have your KPI metrics down to a science – but, why stop at company-centric KPIs? Thinking about your company from the customer perspective and setting metrics to understand their behavior can be equally useful for business growth. This is especially true for more people-oriented organizations, as emphasis is placed on personal value rather than hard numbers and profits.
We hope you find this article helpful when you are drafting up KPI metrics for your own business. If you have further questions about KPI or if we can help you meet your business goals, feel free to reach out to us at 319-800-6276 or by using the Contact Us form on our site.