Setting Successful KPIs

What are KPIs?

KPIs are Key Performance Indicators which are a set of quantifiable measurements used to gauge a company’s overall long-term performance.

There are 5 Key Performance Indicators.

  • Revenue growth.
  • Revenue per client.
  • Profit margin.
  • Client retention rate.
  • Customer satisfaction.

KPIs can be for a business, manager, employee, financial, productivity, and marketing, and used in all areas of a business and managing of a team.

There are 5 Important characteristics to be effective

  • Monitor Company Health
  • Measure Progress
  • Make adjustments and stay on track
  • Problem-solve and tackle opportunities
  • To analyse patterns over time

KPIs are important because they help you understand the performance of your business. It is in decline or is it a profitable business?

One common mistake companies make is that when they first start measuring their KPIs, they try to measure too much.