There are a fair few number of keywords repeatedly heard around the marketing world. Two of the most common keywords that often get lumped together are KPI's and Metrics. But what are KPI's and Metrics anyway? Is there a difference? KPI's are a, "...way of measuring the effectiveness of an organization and its progress towards goals" (Maxwell, 2014). In essence, organisations use KPI's to measure their business goals. Take Netflix for example, an online media streaming service. Netflix relies on a large portion of its revenue from account subscription s (Ciejka, 2018). A s a result, a potential KPI that Netflix might decide on would be an objective to grow their subscriber base. Netflix would then come up with a KPI strategy to reach this objective. A good KPI strategy will typically follow: 1. An iterative process - this is where a company will conduct a repeated cycle of function until eventually reaching their sought after business goals. 2. The...
A postgraduate student's perspective on all topics encompassing marketing.