Key Performance Indicator
KPI is the acronym for Key Performance Indicator.
What is Key Performance Indicator?
A measurable value demonstrates how effectively a company achieves key business objectives. Organizations use KPIs to evaluate their success at reaching targets.
KPIs are crucial for measuring the performance of strategies and campaigns. They help understand how effectively the team achieves sales goals and engages with the target audience. Common KPIs in sales include monthly sales growth, sales opportunities, and average purchase value. In marketing, KPIs might include metrics like website traffic, conversion rates, and social media engagement.
By tracking these indicators, sales and marketing teams can make data-driven decisions to refine their strategies, improve performance, and drive more revenue.
- Abbreviation: KPI
- Source: Key Performance Indicators in Marketing