gain perspective on kpis and improve your viewpoint · 2019-05-08 · social media kpis typical...

Gain Perspective on KPIsand Improve Your ViewpointPresented by:Lindsay Diven, CPSM, Senior Consultant, Full Sail Partners

© Copyright 2019 Full Sail Partners, Ltd. – All Rights Reserved

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Agenda

Key Performance Indicators and How to Set Them Information Sources Industry ResourcesBuilding Your DashboardsTechnology OptionsQ&A


Key Performance Indicators and How to Set Them


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A key performance indicator (KPI) is a measurable value that demonstrates how effectively a company is

achieving key business objectives.


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KPIs Should:

Be meaningful, enabling and supporting decision-makingBe material (or measurable. We’re not

going for the abstract here.)Support decisions for strategic

positioningAlign with the firm’s strategic direction


Action

Positive

Clear

Relevant

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Determining Your Firm’s KPIs

Be clear on what business objectives are most importantTurn objectives into goalsThink which KPIs will help you

meet these goalsDefine what success will look likeOutline the whole process in detailStart tracking your progress


Starter Guide

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Marketing KPIs

Based on Marketing PlansEach Tactic Covered by KPIMarketing Goals and Tactics


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Content Marketing KPIs

Proving content marketing ROIPopular KPIs:


Lead generation Total number of leads Number of leads per channel Number of leads per asset Overall trend (comparison to previous numbers)

Conversion rate of landing pages Number of pages read Page flow before conversion

Lead qualification Categorization in MQLs (marketing qualified leads), SQLs

(sales qualified leads), supporters Ratios of MQL to SQL and closed Lead scoring

Lead nurturing How many leads in active campaigns How many leads converting in campaigns

Individual emails and other touch point KPIs Email open rate Click-through rate

Content production Cost of content Length of process

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Content Library KPIs

The performance of your existing content – online and offlineWhat additional content may be neededWhat patterns you can see


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Company Website KPIs

Visitor numbersDuration of stayNumber of pagesBounce rateSource of the web traffic


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Social Media KPIs

Typical Goals: Lead generationBrand awarenessEngagement – clients and employeesRecruitment

Quality of Engagement vs. Number of FollowersRight kind of followers Increase LI page followers by 25% AND at least 5% new followers with title of Facility Manager


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Event Marketing KPIs

Number of attendeesNumber of quality leadsNumber of pipelines moved alongTotal costRatio of existing clients to leads in attendance Soft parameters – ‘effective networking’ or ‘brand impact’


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Offline Marketing KPIs

Most of our activitiesOrganizational and association involvement/leadershipPhilanthropy Project awardsTraditional PR/Media Measured by: Hours of facetime with clients/decision makers Dollars raised or contributed to client’s philanthropyMedia mentions Subjective feedback from employees


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Sales Teams KPIs

Conversions RatioCost of AcquisitionCustomer Retention RateNet Promoter Score (NPS)


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A/E/C Industry Differences

Marketing vs. SalesSales vs. Business Development vs. Seller-DoersTeam-Based SellingFirm vs. Individual KPIsSales and Marketing Alignment


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Marketing KPIs

Brand Awareness

• Social Media Reach

• Brand Mentions

• Media Mentions

• Events

Firm Growth

• Pipeline• Revenue

Growth• Client

Acquisition Cost

• Traffic to Lead Ratio

• Costs to Sales Ratio

Client Satisfaction

• Net Promoter Score (NPS)

• Client Retention

• Client Lifetime Value

Content

• Conversion• Time on Page• Social

Engagement


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Business Development (Sales) KPIs

Firm Growth

• Pipeline• Average Contract

Value• Revenue Growth• Profit Margins• Sales Cycle

Duration• Win Rates• Costs to Sales Ratio

Client Satisfaction


• Client Retention• Client Lifetime Value

Content

• Content Creation Time

• Content Usage


Information Sources


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Brand Awareness & Content Marketing Google Analytics Web traffic volume Time on pages Conversions

Brand Monitoring & Mentions Google Alerts Software like HubSpot, Sprout Social,

BuzzSumo, etc. Social media platforms

Events Conference organizers Social media around event Attendees and participants


Brand Awareness

• Social Media Reach

• Brand Mentions

• Media Mentions

• Events

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Firm GrowthCRM system - software or Excel

Pipeline Revenue Sales Growth Traffic to Lead Ratio Sales Cycle Duration

Accounting Client Acquisition Cost Costs to Sales Ratio


Firm Growth

• Pipeline• Revenue• Client

Acquisition Cost

• Traffic to Lead Ratio

• Costs to Sales Ratio

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Customer (Client) Acquisition Cost (CAC)


Total Marketing Investment

# of Clients AcquiredCAC

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Project Acquisition Cost (PAC)


Total Pursuit Investment

# of Projects AcquiredPAC

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Client Satisfaction

Client Surveys/FeedbackNet Promoter Score

CRM system - software or ExcelClient Retention

AccountingClient RetentionClient Lifetime Value


Client Satisfaction


• Client Retention

• Client Lifetime Value

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Net Promoter Score (NPS)


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Client Retention Rate (CRR)

Define a former clientCount how many reach this status during a given period


# of Former Clients

# of Total ClientsCRR

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Client Lifetime Value (CLV)


Annual Profit Amount per

ClientCLV

Number of Years they

Have Been a Client

Initial ClientAcquisition

Cost & Ongoing

Client Relationship Management

Costs

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How to Identify Your Firm’s KPIs

1. Make metric identification a team effort2. Use SMART criteria3. Choose 3 Priority Goals and no more than 3 KPIs per Goal4. Resist the urge to add more metrics5. Review on a structured basis6. Use reviews an opportunity to share success


Industry Resources


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Additional Information

SMPS Foundation Report: Measuring for Success: A Look at Hit Rates & Other KPIs in the A/E/C IndustriesDeltek CLARITY StudyZweig Group Financial Performance SummaryPSMJ’s Benchmark Survey Reports


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FullSailPartners.com/resources Blogs: Key Performance Metrics for Architecture and Engineering Firms Key Performance Indicators vs Benchmarking KPI - the New Industry “Buzz” Word Evaluating Your Business Growth Plan With Metrics: An Introduction How to Define Success with a Project KPI Dashboard

Webinars (FREE!): Moving Beyond Metrics: Actionable Insight - Strategies, Tools and

Technologies for Success Modernize Your Business with the Next Generation Business Intelligence

Tool Reporting AE Clarity Metrics Using Deltek Vision Performance Management


http://www.fullsailpartners.com/fspblog/key-performance-metrics-for-architecture-and-engineering-firms

http://www.fullsailpartners.com/fspblog/key-performance-indicators-vs-benchmarking

http://www.fullsailpartners.com/fspblog/kpi-industry-buzz-word

http://www.fullsailpartners.com/FSPblog/bid/312377/Evaluating-Your-Business-Growth-Plan-With-Metrics-An-Introduction

http://www.fullsailpartners.com/FSPblog/bid/301728/How-to-Define-Success-with-a-Project-KPI-Dashboard

http://www.fullsailpartners.com/moving-beyond-metrics-actionable-insight-presented-by-deltek

http://www.fullsailpartners.com/webinar-modernize-your-business-with-the-next-generation-business-intelligence-tool?hsCtaTracking=b22b10ce-e9c5-4e0a-b889-63dac6b95852%7C00ea179f-4d2e-4a8e-b566-350f8969badb

http://www.fullsailpartners.com/reporting-ae-clarity-metrics-using-deltek-vision-performance-management

Building Your Dashboards


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Needed to Build a Dashboard

Information sourcesData setsKPIsCharts, graphics, visuals


Technology Options


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What is Business Intelligence (BI)?

BI is a way of performing data analytics, that combines data from a single or multiple sources:HistoricalCurrentPredictive


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Software Firm Already Has


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Business Intelligence Tools


Closing Thoughts


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Success with KPIs

Data has to be good, identify data sources firstStart with 3 goals, 3 KPIs per goalAvoid jumping from one to anotherUse them for at least one yearTest, test, and test again


Questions


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Vision CRM In-Person WorkshopsWorkshop Objectives Fundamentals of Deltek CRM Configure the system for your needs Identify meaningful metrics Reporting

Coming to a City Near You May 23rd | Raleigh, NC 1 Day After CXps Conference

June 12th | San Francisco, CA July 9th | Atlanta, GA July 30th | Washington, DC 1 Day Before Build Business

August 20th | Orlando, FL September 17th | Denver, CO October 1 | Anaheim, CA


www.fullsailpartners.com/eventsReserve Your Spot:

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Thank You for Attending!

Lindsay Diven, CPSMSenior Consultant | Full Sail Partners

[email protected]

Founder/Writer A/E/C Marketing Blog: Marketers Take Flight

www.MarketersTakeFlight.comwww.fullsailpartners.com


gain perspective on kpis and improve your viewpoint · 2019-05-08 · social media kpis typical...

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