How to render measurable data from conjectural business goals?
The future of business is data-driven. The ROI of goal management is a topic of increasing interest amongst academics and researchers as the framework grows in popularity over time. Goals can be of different of types depending upon the business objectives it holds and the sector it serves. Looking at goals, it can be divided into four top-level which are as follows –
Business KPI – At an organizational level a Key Performance Indicator (KPI) is a quantifiable metric that reflects how well an organization is achieving its stated goals and objectives. This type of goals directly impact your business like leads, sales so make sure you have a good tracking system.
Channel level goals – It comprises of goals that is related to different channels of your website. For example – Increasing Facebook page likes, link building, increase in YouTube subscription and views.
Asset building goals – It is related to the look and feel of the website. You can make your website better or change your web designs as per the trend.
Task-oriented goals – Setting goals based on activity like sending x number of emails in a day or doing certain activities under a given time frame.
The setting of goals must be in a chronological manner, starting from the business KPI’s you need to flow to the departmental level then vanity or task level and then other channels/activity level, as a business leader or an experienced marketer, setting ROI focused goals has always been the most crucial and challenging task. Setting goals are easy but evaluating a data is something to work on.
Setting the right KPI’S followed by evaluating the data and then strategizing on future prospects and thus moving on to a sustainable profitable business is the key to a successful business venture.
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