KPI tracking is crucial, whether you are in engineering, sales or support you need a measurable value to ensure you are achieving your objectives. Whether this focuses on customer acquisition, product discovery or project velocity each of these areas require you to define what success is and how to measure it.
Let's start with what a KPI is; a KPI is a measurable value that lets you see how a department, individual or enterprise is performing in relation to their strategic goals.
There are two types of KPIs; high level and low level. High level KPIs tend to be more financial-centric, aimed at the executive board, these KPIs are focused on efficiency and effectiveness. Whereas low level KPIs indicate the performance of specific departments. The nature of these KPIs vary depending on what industry you are in. Below are 5 different departments with top KPIs they should be tracking; Executive, Sales, Engineering, Marketing and Support.
Executive reporting focuses on issues that business leaders are worried about. The executive KPIs should be used by all teams to measure their progress. Executive KPI reporting allows you to understand whether your current strategies are having the intended impact.
- Net Profit Margin
- Sales Volume by Location
- Client Acquisition Rates
- Qualified Lead Velocity
- Sales Pipeline
Sales KPIs indicates the performance of various processes in your sales team. It is an insight into your sales team performance and allows you to create strategies based on what you know. Whether you want to focus on the sales pipeline, conversion, or revenue gain metrics, all the below KPIs will allow you to act in a data driven way.
- Customer Acquisition Rate
- New Leads/Opportunities
- Quote to Close Ratio
- Lead to Sale %
- Customer Lifetime Value
Engineering KPIs are used to indicate reoccurring problems, whether this is to understand the prevalent bugs or to evaluate troublesome performance indicators that may not be directly associated with your engineering team, it is essential to evaluate the back end performance in order to apply this to the executive reports.
- Defect Removal Efficiency
- Build stability Status
- Crash Statistics
- Major/critical issue distribution
- Time spent in release
Marketing KPIs look at what's working and what's not. By monitoring the inbound and outbound marketing efforts this can be used to measure the funnel conversion rates and grasp a deeper understanding of the suited content that your customer responds too. Marketing KPIs are a crucial element of content marketing strategies like A/B testing and understanding your lead generation flow.
- Social Media Reach and Engagement
- Email marketing performance
- Funnel Conversion Rates
- Marketing spend per customer
- Purchase funnel
Support KPIs are a good metric to understand what reoccurring issues are so this can be passed onto other departments like product/engineering, and to understand areas that support staff may be struggling on and how best to improve this. By understanding your customer needs this improves the general experience of the product/service and hopefully increases sales.
- Tickets solved per hour vs tickets handled per hour.
- Customer satisfaction score
- Average first time response
- Average reply time
- Resolution Rate
ServiceClarity focuses on delivering bespoke KPIs for your company. We believe that in order to have a coherent picture, it is crucial that department management tools are interlinked. If you're keen to find out more, feel free to schedule a demo;