KPI (short for key performance indicators) is there to help you keep track of your business, fix some crucial issues, and ensure the growth of your company. Never mind the type of your business, you surely want to know all the things you need to work on to make the growth possible. KPI is something both large and small businesses need. There are a lot of tools that help you with KPI issues, depending on your company’s needs. These tools show you the most important metrics you need to keep track of in order to make the path to success easier for you.
Some of those metrics are customer acquisition cost (shows you if your sales and marketing processes are effective), customer lifetime value (how much a customer spends, does he come back more than once), and revenue growth rate (shows you how quickly your business grows). These metrics are just the essential ones. Depending on the type of your company, there are surely some additional metrics you should track, too.
In case your company is an e-commerce store, you should track average order value, conversion rates, and cart abandonment rates. In other cases, you should see and decide which metrics suit your business the best. Some of the best KPI tools are Asana, Simple KPI, Salesforce, and Geckoboard. So, let’s find out something about them.
Asana is a great tool if you want to use simple, project-based KPI tools. Using it, you can track projects, tasks, dashboards, or conversations. You can track different projects within cards. Each card can be used for adding new members, creating due dates, and more. Their KPI tracking system is called OKR (objectives and key results), and administrators can make different tasks with objectives that are attached to them. Also, this tool’s dashboard provides you with a wide range of tactical overviews. Those come in handy when you want to see your progress across projects.
SimpleKPI is suitable for all businesses. As its name says, it is simple to use, but that surely does not mean that it lacks power. It can track various metrics (marketing, financial, operational, and more). It also integrates with a lot of popular software packages. Their customer support is available 24/7, which is a great advantage if you ever need any help!
Salesforce is the perfect solution if you want to keep your employees and teams focused on the most important metrics. It allows you to build personal dashboards for your business as a whole, or you can create a dashboard for every employee in the company. They have products appropriate for every branch of business, which makes them so popular and powerful.
Geckoboard is probably the easiest to use among the tools listed. It integrates with some of the most famous business software (Shopify, Google Analytics, Salesforce), and pulls data straight from those programs to create an amazing visualization of the most important metrics. It helps you keep your employees focused on results, and it allows you to make your own visual dashboard using a wide range of different metrics.
Tracking your metrics lets you know what you’re doing right, and where there’s room for improvement. All the software we listed will help your business grow. They let you know exactly where you need to do better and show you the way to success. Hopefully, you found the one that fits your business well. If not, try exploring them a bit more and you will surely find the right one for you. Good luck!