Key Performance Indicators (KPI's)
Key performance indicators (KPI) are measurable targets set against the core functions of your business and are a true indicator of overall long term business health".
KPIs should reflect your business goals and be critical to their successful achievement. For example, if your business goal is to increase market share, your KPIs could include the following measures:
- Cost per recruit
- Subsequent re-buy rate of first time buyers
- Number of new customers
If your business goal is to increase customer share-of-wallet, your KPIs could include the relevant measures, as follows:
Business goals to meet requirements
Qbase can help you plan precisely the right KPIs for your specific business goals. Crucially we understand how important it is that the marketing database must be designed from the outset to enable standardised reporting of business KPIs to be produced.
The marketing database should be flexible enough to allow tracking of newly identified KPIs, and presented to users via hard copy or through the use of dashboards.
Detailed above are some of the industry specific KPIs that Qbase currently produces on behalf of its' customers.