Hey digital folks,
Before I get to replying to this week’s questions, I’m super excited to share with you the number of accounts audited. We had the privilege to audit a little more than 1.000 Google Analytics accounts!
It’s not only a significant number, but it’s also the number of the accounts we are working with to increase their Google Analytics health scores. If you didn’t, try on heybooster.ai . I’m here to assist you to do your best!
This week’s question is a bit tricky because there is no solid answer. It all depends on the stage of your Analytics Maturity Model, and mostly the toughest issues are defining valuable KPIs. This is the first step in company awareness and helps to reveal the strengths and weaknesses of an organization. This is how you start to form and develop a data-oriented culture.
(If this concept is new to you, you can check out Chris’s medium post about the BI and Analytics Maturity Model)
Netflix KPIs are the number of watched and retention. Let’s check it out; the reaction for these KPIs shows the reason why it works. https://news.ycombinator.com/item?id=18951388
The income or profit of an organization is one of the key metrics but shouldn’t be defined as a key KPI. KPIs should provide and lead to an impact-driven culture. For us, a key KPI is “the number of tracked recommendations per user”. If we enhance the number of customers getting valuable recommendations, we could gain new users from their recommendations. And also, it is a clear indicator for the marketing and product development teams. If we set our KPI more in the line of revenue, it would not be a clear indicator for our development team.
You don’t only have to set one metric. It’s useful to simplify the communications, but you can set more than one to focus on your tougher issues. If your mobile transactions are less then %70, even though your traffic is almost %85, in this case focusing on sales is not enough, you should focus on the percentage of the mobile orders. That drives you to focus on your mobile app experiences.
If you don’t have a mobile app, you can consider developing
If your web site doesn’t refer to the mobile app, you can consider looking into deep linking solutions
If your audience doesn’t have the app, you can have an app download campaign
If your active mobile app user ratio is lower, you can have an app retention campaigns
So it’s better to change the question with “What’s your main KPI to drive your teams to focus on the next big thing?”