What are key performance indicators (KPIs) and metrics?
So, about KPIs and metrics... On first sight they might look like the same thing. Both are meant to reflect the performance of your business, and both involve numerical information. But the context behind these two things is very different. I think if you’re going to tackle digital marketing, it’s useful to know the distinction between a metric and a KPI. What is a key performance indicator? To put it bluntly, key performance indicators (KPIs) are the main data necessary to achieve your business objectives. They are the essential things needed to achieve the goals you’ve set for your company. For example, you want to increase your sales by 10% by the end of 2023. KPIs that are relevant to that objective are things like monthly sales growth, monthly calls per sales rep, customer lifetime value, number of preorders etc. They are considered key because failing to improve these areas will result in you not achieving your objectives. Notice how there's a clear link between ...
