KPI stands for Key Performance Indicator.

All of us who have attended school received report cards on a regular basis. The grades you received were your KPI’s while you were in school.

They reported to you:

• Your areas of strength
• Areas of weakness

As a result, KPI’s helped you to focus on the categories where you needed to devote more effort to perform at a higher level – or in other words – to achieve your goals.  If you are getting an F  in Math perhaps it’s time to get a tutor. You get the idea.

In business, KPI’s provide the same benefits as they did in school. They help the business owner and his team focus on the areas that are most critical to achieving their goals by measuring performance in a tangible way – by using a predetermined metrics.

So What is a KPI Online?

Google Analytics has a ton of metrics in it.  A key performance indicator (KPI) is a metric that helps you understand how you are doing against your business goals and objectives.  

Tracking your KPI’s online is important.  Now a days you can’t just have a website -  you need to analyze it’s metrics and track it’s KPI’s.  Why?  Because more purchases are made online today than ever before.  You want to make sure that you get on the bandwagon and start receiving online sales too. 

Taking a deeper look at the KPI’s of your website or blog, will allow you to better understand how to increase your web traffic. 

When looking at Google Analytics it can be a bit overwhelming. What metrics make sense to follow?  Well this could be different for every business.  All of the below are metrics:

• Number of Visits to your site
• Number of Page Views
• Bounce Rate
• Average Time on Site

Be careful though in identifying KPI’s, because they are unique to every business (even between competitors) and a great way to fail quickly at this step is to poorly select what KPI’s are important.  Once you have your important KPI’s selected, it’s time to start tracking them.  By tracking KPI’s you can then see what areas need improvement.  It will change the way you do business online and hopefully increase your conversion rate. 

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