Key Performance Indicators, also known as KPIs, are a series of metrics that analyze specific information about the effectiveness and productivity of a company’s actions. Some examples of KPIs include likes, comments, leads, shares, CTRs, among others.
The purpose of KPIs is to define the best practices to make any campaign or project successful, prosperous, and profitable. These performance indicators quantify data and offer a clear and global vision of the weak and strong points of a project. This way, companies can improve their decision-making, and achieve greatness.
Let’s say that a company wants to launch a marketing campaign that implements interactive videos to engage with their existing customers, and motivate new people to purchase their products. For the company to know if the video was successful, it would use the data on the number of video streams, the devices the public used to watch the video, and even the audience engagement. In this case, KPIs will collect the data and show it to the company to indicate consumer behavior, people’s involvement, and the retention of viewers.
How do we know if the KPIs are working? To understand the real effects of these performance tools, companies need to make comparisons between past campaigns and measure the effectiveness of their new ones. If the purpose is to have a wider view of what can make the company’s campaign grow, it can use A/B testing. A/B testing is a way to compare two versions of a single variable to determine which of the two variants is more effective. A/B testing also serves to let potential customers know what attracts their attention the most.
To do all of these, Optime Consulting released an interactive video campaign tool known as Video2Market or V2M. With it, companies use KPIs to measure data, promote social engagement, and create positive human experiences. Due to its interactive features and BI components, KPIs allow companies to have in-depth visibility of their market interest with data insights and pre-scored data in real-time.
V2M has many different characteristics, such as Geo Report, Social Channel, and Lead Retrieval, all of which contribute to the creation, collection, and analysis of data. If you would like to know more about Video2Market’s features, write a comment below or contact us to talk with a specialist.