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Setting insights-driven objectives

This section introduces learners to the importance of using the results of earlier marketing campaigns to improve future goals.

Now that you understand your previous results, you can consider what you may be able to change during the campaign you are planning. It’s always good to aim for some improvement.
Key Performance Indicators (KPI’s) are a critical stage when implementing a measurable and effective marketing campaign.

You should use the analysis you have done to develop the metrics and objectives for the next campaign you run. This will help you to understand what is achievable when looking for areas for improvements.

First, a KPI should be linked to a SMART objective:

Specific: Be very specific about what is required
Measurable: How we are going to measure if we have achieved it?
Achievable: Everyone signs up to the delivery of the objective
Realistic: Focuses on an outcome, not individual steps
Timed: A date when it should be completed by

The KPI(s) can help with the ‘measurable’ and ‘realistic’ elements. It will also ensure that the activities support the delivery of the objective, weeding out any activities that are not relevant.

The role of the KPI is to ensure that you understand how well you are delivering your objective, and when you have achieved it. As such, you should resist the temptation to make it really ambiguous.

An over-reliance on a single KPI can often be to the detriment of your overall performance. For example, let’s imagine that your objective is to get more customer engagement on your website. So, using page views as your KPI, you set yourself a target of increasing daily page views from 10 to 15.

When you achieve this, you think you’ve attracted loads of new customers. However, it later turns out that you’ve made your website harder to navigate and the additional views were from confused customers struggling to find relevant information.

What we’re trying to say is; always consider whether your KPIs are driving the right behaviour. It’s also good practice, where possible, to link your KPI with another financial objective that can be measured, such as an increase in revenue or profit.