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When working with a very small company, installing a KPI program can make management aware of what is actually happening within your company. Point in case, for a new Product Line: An advertisement budget was allocated to an online advertiser (email and SEO optimization) for a good chunk of money. When reviewing the P/L, the money was spent in June as the program was initiated, with the task to target 5 cities in the Midwest to boost sales at dedicated grocery stores. Although the sales actually went up, after analyzing the sales in the advertised region, it was clear that it had no impact as the growth came from an old established account, not related to the territories in which the money was spent. This tells us that their benefits were coming from factors unrelated to the Digital Marketing campaign in question. With this in mind, another company could be taking credit for your results!
As a consequence, a questionnaire was formulated and sent to the advertisement agency to explain their initial “promises” and the results? After a brief wait, we receive this response:
“KPI’ are a great tool to keep a one-pager with all the important data to make decisions fast, and also takes out all guess work about the impact of investments and decisions. Want to learn more about setting up a KPI system, or some more reading here."
KPI’ are confidence Builders for Buyers once you intend to sell, there is nothing better than a track record on business decision aligning with outcome and results.
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