Key Performance Indicators are metrics that are used to analyze the work with the performer of the assigned tasks (web studio, digital agency, etc.) and directly the final digital product. They are needed to determine two main aspects: whether the goals are achieved and how effectively the resources were spent to achieve them.
Since there are many types of performance indicators (KPIs), it is worth using the ones that meet the initial request. Choose which component of the product you want to analyze: design, content, SEO, user behavior on the resource, email marketing. This will determine which segment of the metrics is more logical to start working with.
Along with this, we will give some key metrics, which would help to assess the overall performance of your product.
Customer Acquisition Cost determines the cost of attracting visitors;
Live Time Value – cash inflow from the user for the whole time of resource usage;
CRR (customer retention) shows as a percentage how effective you are at retaining existing customers;
Engagement Rate shows the level of user engagement, demand for your product, affects the ranking of the site;
Conversion Rate and Click Through Rate – Check conversion and click-through rates;
Cart Abandonment Rate – check the percentage of your visitors who added items to cart but left without making a purchase.
Metrics can be more, as long as they do not contradict each other. For example, if you are engaged in sales, the high rate of page views can talk about poor navigation or confusing interface, while for a news site this metric will tell about the quality of content and usefulness of the resource.
Ideally, it is worth checking the quality of the product at all stages of its creation.
