Understanding your audience is important when planning all marketing communications, but understanding your goals is as vital. Key Performance Indicators (KPIs) are valuable metrics which help you achieve your business goals. Taking time out at the campaign planning stage to analyse your KPIs and what impact you want to make on them ensures your goals are always to the fore.
KPIs, of course, differ for every organisation, but as an introduction to mobile marketing here are some examples that Element Wave users regard as important:
-Daily active users (DAU)
-Monthly active users (MAU)
-Retention Rates
-Revenue
-Sessions
-Turnover
Establishing KPIs that are most relevant to your business and your sector is important. For example, news providers may want to concentrate on traffic or number of sessions. Retailers might focus on turnover or items per sale. iGaming companies could benefit from analysing daily/monthly active users (D/MAU) or bets per user.
It is worth noting that KPIs are not set in stone. They can be adapted over time. If you have recently launched your app and there is a surge in downloads, retaining those users would and should be a high priority. Let’s continue with the example of a new gaming app. For anyone who placed a bet on their first weekend after install, a money back offer was available. A KPI to align with that campaign might be ‘offer claim rates’. This figure should be analysed to examine uptake. In the weeks following, retention as a KPI would be the focus.
The main goal is to identify what you are trying to impact and then tailor your communications to make that impact. Keep in mind it could be a number of KPIs at once.
Start small if you need to, but make sure to have at least one in mind for every campaign, what are you trying to impact and why? This is a good habit that puts analysis to the fore and will benefit you as well as your users by saving time and energy on having a clear vision, to begin with.
KPIs test success, offer insights, give focus and aid a more targeted approach to communicating with your users. Taking time to analyse campaign activity and examining the contribution to your goals is so often overlooked. Some marketers adopt an ad hoc approach, which of course has a place and the ability to do so is one of the is one of the greatest features of push. For successful mobile moments, you need to plan time to evaluate. Use your hard earned results and knowledge to gain a better insight into your audience base. From there you can develop more tailored, targeted and welcome campaigns.
