You can tell anything and everything about statistics. Behind this counter quote, however, is a reality in the everyday mobile marketing professionals. Indeed, if statistics are interpreted, key performance indicators may be affected by the same symptom if not taken into consideration. Each KPI must be carefully chosen and studied, as it is adapted to a particular problem. These are valuable indicators, decision aids and data that directly impact your strategy. Tracking bad KPIs can therefore have serious consequences. What if we were to go back together to stop following the bad KPIs?
THE MOST COMMON ERRORS
Mobile marketing professionals usually have some key data to look for, but these do not always guarantee that they have taken on the full dimension of a problem. You can talk about the number of leads generated, the conversion rate, the cost per acquisition, the bounce rate or the income generated. These are not bad variables per se, but they are global indicators that are not sufficiently focused on specific actions. This does not mean ignoring them. Just learn to interpret them in a particular context. For example, they do not provide any indication of your social performance, user behavior, loyalty or profit.
HOW TO IDENTIFY GOOD KPIS
The first thing to do is to operationalize your approach. This process transforms an overall objective into a series of multiple indicators that feed its measure.
Let’s take an example in the education sector: how to achieve academic expertise? This can be the success rate of a baccalaureate, the ability to speak a foreign language, manage projects, help each other, share common values, master mathematical theorems or know the major dates in the history of France, for example.
Let’s go back to your website with an example: how to increase the engagement of your visitors on mobile? You need to break down this goal into a sequence of microtasks or measurable variables that will create your roadmap for the coming months. Each should be shared with the utmost attention. Also consider identifying potential biases, be they statistical or behavioral (eg, the notion of seasonality).
Thus, each new goal must integrate its own KPIs in order to be relevant and accurate in the chosen variables.
KPIS TO WATCH
Since each KPI is specific to an action, it is impossible to list them all, but you can identify some that should attract your attention:
Return on Advertising Investment: This is an important KPI because it gives an overall view of how the advertising budget is spent on mobile. By refine your decisions and your media plan in relation to this indicator, you can optimize your campaigns and reach the right people at the right time.
Social commitment: it measures the “likes”, the shares and the comments of your social campaigns. The more a user is engaged on social networks with your brand, the more likely it is to (re) take action or to influence his / her close entourage. To integrate this data into a DPM will allow you to extend the scope of your knowledge.
Purchasing Intent: By measuring activity around the shopping cart for e-commerce sites, this KPI is critical in determining the likelihood that a visitor will make a purchase by adjusting your conversion tunnel.
Retention rate: for mobile applications, downloading is not an end in itself. Regular use of the application is one. It’s up to you to measure the use and behavior of users with your application: have they tried to launch it? Was it too slow, too complicated, too technical? You can also measure activity on an application. From how much time or functionality do you consider a person to be an active user?
Conversion rate per channel : your visitors come from many sources: mobile display advertising, social networks, affiliation, external links, inbound marketing strategy, emailing … Each of these channels has its own life and expectations. By customizing the client path per channel, you can effectively measure a particular mobile conversion rate. Depending on the channel used, some will arrive on the home page of your site, others, on a temporary landing page or blog article for example. So take time to dissect the mobile behavior of visitors to optimize your strategy.
Structure of your MQL : behind this English acronym are the “Marketing Qualified Leads”. To simplify, the most successful or “hot” prospects. Each brand defines them differently, depending on the actions, or the successions of actions, undertaken by these visitors: social commitment, downloading of white paper, request for product demonstration, etc.
These MQLs represent the priority for your sales forces, since they are the ones most likely to convert or buy. Your KPIs must therefore integrate them according to different prisms: the evolution of MQL, the share of MQL in your “classical” leads, the conversion rate of leads in MQL or the number of MQL per channel, for example.
Following the right KPIs takes time and practice. It is the corollary of the optimization of the customer’s journey to measure data in a particular framework. If every euro invested has to be measured, you have to know how to measure it and take the time to ask things so as not to rush. If a decision to continue or stop a campaign results from the analysis of your KPIs, it is better that this decision is rational and reliable. And so, based on the good KPIs!