Table of Contents
- KPI Ideas and Examples
- Sales KPI Ideas and Examples
- Ecommerce KPI Ideas and Examples
- Social Media KPI Ideas and Examples
- Maintenance KPI Ideas and Examples
- Call Center KPI Ideas and Examples
- IT KPI Ideas and Examples
- FMCG KPI Ideas and Examples
- Department KPI Ideas and Examples
- Procurement KPI Ideas and Examples
- Recruitment KPI Ideas and Examples
- KPI Ideas FAQs
KPI Ideas
The KPI is one of the business metrics that executives and stakeholders use to gauge business achievements and performance, may it gravitate towards strategic, functional, operational, or leading/lagging KPIs. Touted as a powerhouse measuring tool for overall business performance, there are so many KPI ideas and examples in the market that you can’t simply use a single KPI for all types of industries.
KPI Ideas and Examples
KPI is short for key performance indicators and it is crucial that you know what predefined sets of metrics to use as you gauge KPIs via reporting or analytics tools. From manufacturing, engineering, inventory, laboratory, hospital, and marketing, to customer service, the KPI’s function goes according to purpose. Explore some of the most highly recommended KPI ideas in business to come up with your KPI infographic dashboard via MS PowerPoint, Excel, Tableau, or Google Slides.
Sales KPI Ideas and Examples
The sales team and administration refer to the sales KPI in checking how near or far the actual performance of sales employees leans toward the predefined business goals. Sales KPIs usually tackle the average leads generated each quarter, average revenue per unit, lead conversion ratio, sales cycle length, and lead response time. Make sure you come up with a robust sales KPI that promises your business to skyrocket over time.
Ecommerce KPI Ideas and Examples
From financial growth, and customer support, to business sales, leverage an eCommerce KPI to track digital transactions and align performances with the right objectives. Be sure to report on the average order value (AOV), customer lifetime value, conversion rates, warehouse status, shopping cart abandonment margins, and other related aspects in the eCommerce KPI. Every online store could use this type of KPI to stand out against competitors.
Social Media KPI Ideas and Examples
Key performance indicators designed for social media platforms fall under the social media KPI. Although KPIs are linked to social media marketing, there are actually more focus areas besides that such as visitor engagement, number of followers tracker, audience appeal, etc. Just because you have a social media presence, that doesn’t mean you stay complacent with your content quality because trends change over time and you might not be able to keep up; thus, prepare custom social media KPIs for your digital growth.
Maintenance KPI Ideas and Examples
A maintenance KPI concerns any company in determining the many possible factors that could impact the predetermined successes. The prominent business maintenance indicators you can display in a maintenance KPI would include the maintenance backlog, downtime, mean time to repair (MTTR), purchasing and expenses, asset performance, work order production, and safety compliance. You will eventually reach your maintenance objectives using the maintenance KPI’s quantifiable data.
Call Center KPI Ideas and Examples
A call center CEO may be concerned about the company’s equipment innovation, employee productivity rate, or customer engagement, and this is where a call center KPI is at play to measure these concerns. Call performances can be tracked until exceptional services are delivered by noting the average time in queue, average call abandonment, service level, cost per call (CPC), first call resolution, and more. Also, you can decorate your call center KPI with a scoreboard layout, criteria chart, business PNG logo, dashboard table, and other relevant icons.
IT KPI Ideas and Examples
In the field of information technology, all essential aspects involved in an IT project can be planned, measured, and tracked with the IT KPI. The IT KPI’s scorecard would likely include the operational metrics, equipment quote, IT support, system reliability, software development, cyber security rating, the accuracy of estimates, and others. IT specialists can definitely use this kind of KPI to conduct a quantitative assessment in understanding IT performance.
FMCG KPI Ideas and Examples
Fast-moving consumer goods (FMCG) may cover cheap or basic products but they are still important to many industries. The FMCG KPI exists as the standard measurement value in evaluating if business goals are met or not. FMCG KPIs denote the visitors’ bounce rate, stock levels per store, short sales cycle, consumer demands, the average time to sell, product margins, goods transportation process, and a lot more.
Department KPI Ideas and Examples
Departmental objectives have their own set of KPIs which are referred to as the department KPI. A single department can have so many concerns from team leadership, employee recruitment, client satisfaction, and lots more. Be sure to shower your department KPIs with relevant metrics such as the day sales outstanding (DSO), right party contacts (RPC), gross profit margin, finance report error rate, and the like.
Procurement KPI Ideas and Examples
Procurement refers to obtaining specific goods, supplies, and equipment, and you deserve to have a procurement KPI whether the products involve designer fashions, collectible toys, Apple gadgets, or food ingredients. Procurement KPIs actually measure the aspects of gathering or purchasing goods such as the costs, quality, quantity, and sourcing. The same goes for gauging the rate of emergency purchases, spending under management, compliance rate, invoice accuracy, purchase order accuracy, supplier defect rate, and many others.
Recruitment KPI Ideas and Examples
A specific type of KPI that reckons the performance of recruiting services and processes is called a recruitment KPI. The HR, recruiters, and stakeholders would depend on the recruitment KPI to measure the return on investment, time to hire, cost per hire, quality per hire, offer acceptance rate, sourcing channel, and candidate satisfaction. With a recruitment KPI on hand, you will be confident that all efforts done for recruitment are valuable, especially if they meet the business objectives.
KPI Ideas FAQs
Who is responsible for KPIs?
The performance owner is responsible for the KPIs such as the manager, supervisor, executive, or team leader.
What is a KPI for an employee?
A KPI gauges an employee’s performance if her/his/their actions or impact actually align with the business objectives.
Should KPIs have targets?
Yes, the defined targets are what makes KPIs effective in measuring performance.
What is a KPI dashboard?
A KPI dashboard is a visual presentation tool where KPI performance results and data sources are presented in an easy-to-read system.
How often should KPIs be reviewed?
KPIs must be reviewed on a weekly, monthly, quarterly, or yearly basis.
What are KPIs for a business?
KPIs track business performances that impact the company objectives such as the sales growth rate, net profit margin, revenue concentration, working capital, and accounts receivable turnover.
What is KPI methodology?
The standard KPI methodology is to begin making objectives, describe the outcomes, identify the appropriate KPIs, set thresholds, measure performances, analyze the data results, and set an action plan.
What are KPIs for governance?
Good governance is made possible with effective KPIs such as reviewing the infrastructure and investments, organizational risks, stakeholder engagement, quality of government body, etc.
What KPIs do CEOs focus on?
The most important KPIs CEOs are concerned about are the burn rate, on-hand cash amount, day sales outstanding, gross margins, growth rate, customer retention rate, and customer acquisition cost.
What is a compliance KPI?
A compliance KPI contains the quantifiable metrics in checking if a department complies with the organization’s policies, objectives, and desired outcomes.
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