The 6th step in The Seeding Process is KPI.
Seeding and Feeding is the process for gaining new customers for your business.
Just like growing plants, it's all about planting thoughts in peoples' minds about your brand and nurturing the relationship to ensure a lifetime customer. You cannot begin to feed until you seed.
While you're busy executing all the steps, you must be tracking your progress.
To reach your goals, whether strategic or operational, you must measure your efforts.
KPIs, or Key Performance Indicators, provide a clear scorecard for the effectiveness of your marketing efforts. KPIs let you know if your plan is working, and they help focus your employees' attentions on specific aspects of the business.
KPIs are the backbone of your business. They provide all the information you must know to decide if you're successful or not.
Imagine if you never kept track of your salespeople. Do you know how much they sell? Do you know how many leads they're contacting? You wouldn't keep salespeople who are underperforming.
The same goes for marketing campaigns. You have to know if they're working; if your efforts are being wasted; if they're making you any money; or if they're helping to find new customers.
The bottom line is, KPIs are essential.
As a business owner, you must have the discipline to track KPIs. Once KPIs are tracked, review and improve them as needed.
Every marketing campaign should have a clear goal. Once goals are set and clearly defined, you will understand more about what to specifically measure and track.
Remember, if you don't track it, you can't improve it. You can't know how well you're brand is doing if you're not keeping track of your efforts. You could be missing out on thousands of dollars in revenue if you're not keeping track of how many people you're reaching each month, how many people are visiting your store, how many new website visitors, and so many other metrics.
Be diligent in your KPI efforts. It will pay off.
To learn more about tracking and measuring KPIs, contact Marketing Perfected.
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