Today web analytics go hand-in-hand with KPIs : they can facilitate their initial establishment, as well as improve their measurement and distribution.
What is a KPI?
Key Performance Indicators, are the quantifiable measures that allow visibility into the performance of your business, and the impact of the key drivers on overall business performance. Typically KPIs are tracked and distributed in dashboards to provide everyone in the organization with an understanding of how their work is affecting the overall performance of the company.
Which KPIs should I monitor?
KPIs will vary from one organization to another, but here are some examples :
• What is the valuable action or behavior that I am trying to get people on my website to do? Buy? Register? Perform a transaction? Consume content?
What can I do to change:
• How many people are doing those things
• The impact (or value to the company) each time someone does one of those things
• How often each individual repeats one of those things
• What tactics do we use as a business to get people to do those things of value? Do those tactics cost us money? Do we need to show the ROI we’re making in those tactics?
• What is the primary business objective of our site? To drive revenue (i.e. sell stuff), enable business transactions, support business partnerships?
• What business metrics am I held accountable for by my boss? What business metrics is my boss held accountable for?
Using web analytics, we are now able to better track and quantify all this information, and therefore identify our strengths and weaknesses, ultimately better measuring business performance.
Which KPI’s should I track for RIA & RSS?
Social media integrated with Web 2.0 technologies promises a better user experience through interacting and wider access to information. Clients have more choices than ever on how they choose to interact with organizations. Some examples are given below.