We often work with businesses that want to know what marketing KPIs and metrics matter to us. In our video, "What Marketing KPIs and Metrics Matter," Gary Survis, a Venture Partner at Insight, explained that it doesn't really matter what investors care about. Instead, what business leaders should think about is the KPIs that will drive their business.
Now that response begs a follow up question: What KPIs will provide the insights into performance data that showcase what makes your organization tick? As you work to answer that question, the first thing we recommend is that you keep the difference between KPIs and metrics in the back of your mind at all times.
A KPI is a data point that indicates something critical to your business's performance. A metric is simply a point of information measuring something in your organization. All KPIs are metrics, but there are a lot of metrics out there that don't give you the mission-critical visibility needed to qualify as a KPI. You could track countless metrics across various lines of business to gain visibility into your marketing efforts, but that doesn't make those metrics effective KPIs.
Check out the video to:
- Learn more about the distinction between KPIs and metrics.
- Find out which key marketing KPIs Gary highlights for rapidly scaling businesses to track.
- Get advice on how to choose the right KPIs for your business.
Want to learn more? We'd love to talk. Contact Insight today or sign up for our newsletter if you're looking for more advice.