Contents:

What is a KPI?

Tracking KPIs In Factors

Ready-to-access KPI

Custom KPIs

How to track KPIs?

Use cases

What is a KPI?

A Key Performance Indicator (KPI) is a key measurement that can be used to measure the success or performance of, for example, an advertising campaign. KPIs are set as targets.

Some examples of KPIs in online marketing:

  • traffic,

  • impressions,

  • bounce rate,

  • number of leads.

Tracking KPIs In Factors

It's evident that key performance indicators are an integral part of a company that helps them maintain a superior user experience while enabling them to support growth efforts. But using KPIs is not the only thing your business should be doing. Appointing the right KPI and binding it to others to build an adequate data picture can help managers and teams to stay on track for attaining and exceeding the company’s goals.

You can leverage Factor's KPI feature to regularly monitor and tread top-line metrics for on-site engagement rate, conversion rate, website traffic, drop-offs, and much more. With the help of these metrics, you will be able to identify leaks & issues, make data-informed decisions, improve the user experience and thus come up with a potential solution.

Let’s start with understanding the two types of KPIs in Factors:

Ready-to- Access KPIs

These KPIs are the readily available ones that you can find in the ‘KPIs’ section on the Factors app. Choose from a diverse range of metrics including Google Ads metrics, HubSpot Contact, Website sessions, etc.

In case you can't find the relevant performance indicators that fit your department or activity, you can simply create Custom KPIs tailored to your business needs.

On top of this, you can also slice and Dice KPIs based on key segments for analysis. For example, if you want to segment the visits, breaking them down by media and country, you can handily do that at Factors.

Custom KPIs

Creating custom KPIs allows you to fully understand and monitor marketing performance by tracking your most relevant metrics. Let's get you started with Custom KPIs:

Step 1: Login to Factors

Once you login to the Factors app, click on the ‘Settings’ icon in the sidebar and then locate Custom KPIs.

Step 2: Add name and description to the KPI

Click on ‘Custom KPIs’ and then click on ‘Add new’. Add the name of the KPI you wish to track under the section named ‘KPI Name’. Add Description about the KPI. For instance, you wish to track the contact created in the CRM.

Step 3: Select the KPI Category

Choose the KPI category from the dropdown menu. In this case, the KPI category that we chose is ‘HubSpot Contacts’.

Step 4: Select Function and Add Filters

Filters are very useful to customise the exact data that you want to use. You can add filters to your custom KPI by clicking on “Filter By”, and choosing the field and value you wish to filter. Let’s say, we wish to filter the KPI by the last modified date, therefore, we will simply add the ‘HubSpot Contact Last Modified Date’ from the dropdown and choose ‘unique’ in the function.

You can also, for instance, add filters for all the lost and won deals. For that, you should choose a ‘sum’ function and add a filter for Won Deals, and another one for Lost Deals.

Step 5: Add date field

Plot KPIs based on the date field of your choice. Add your preferred date field from the dropdown to be used for the horizontal axes of the KPI. In this case, we are adding ‘HubSpot Contact Created Date’ in the date field.

Step 6: Save the Custom KPI

Click on the ‘Save’ button to save your Custom KPI.

How to track KPIs?

Here is a step-by-step guide to create a KPI report at Factors:

Step 1: Add KPIs to Analyse

Let’s say we want to track the below-mentioned KPIs for our website:

  • Total sessions

  • Bounce rate

  • Engagement rate

Add the same KPIs from the ‘KPI to analyse’ dropdown menu. At this point, your query will look like:

Step 2: Add Filters

Add filters to see results precise to your needs and also eliminate unwanted data. Factors allow you to segment your audience to derive more meaningful insights. There are two ways to do this:

You can filter your report by OS, Browser version, platform, campaign type, or country. So, for this report, we want to track the KPIs on a country basis. Therefore, add the "Country" filter and select the value as "India" (or the country you wish to). At this point, your query should look like this:

Step 3: Add Breakdowns

Breakdowns simply break down the data into groups. Even though the ‘Breakdown’ is an optional feature, if your goal is to compare the KPIs across segments, you should definitely use the breakdown option. For instance, if you want to segment the user visits, breaking them down by medium and country can be effective.

Just like Filters, you can add breakdown to your report on a KPI or global level in the same way.

Step 4: Add Time Frame

Choose a time range for the KPI report. You can also create a custom time range by adding the details like the start date and end date.

Congratulations, you're now done with your very first KPI query! See, it's that easy. Now, click on ‘Run Analysis’ to view your KPI Report. You can then save your KPI report by clicking on the save icon on the top right corner of the screen.

Your query will look like this:

Use Cases

Factor's KPI dashboard ensures that departments don’t have to work in isolated departmental silos, but the integration of functional lines throughout the business will ensure a well-aligned organization. Here’s how you can leverage your KPI reports built on Factors:

  • Visualize All Metrics In One Place:

As mentioned, Factor's KPI dashboard provides a single-screen view and enables faster-sharing processes. You don’t need to wait for weeks to generate a report, but you can obtain it directly, with all the important KPIs in a single place. Visualize KPIs across different categories to correlate the impact.

  • Tracking & monitoring Key Metrics:

With our KPI's feature, you get to track the metrics that matter most to your business both accurately and securely. Easily track information about user behaviors on different pages of your website including web page, landing page, blog article, product page, as well as CRM data, ads, user/ customer accounts, etc. After analyzing the key metrics, you can apply your insights to improve business performance, customer experience, and more.

  • Ready to access KPIs and easy to build custom KPIs

With the readily available KPIs, you get to monitor the most significant KPIs in one place while obtaining a comprehensive overview of your business so that you can make more informed decisions.

In case you can't find the relevant performance indicators that fit your department or activity, you can simply create Custom KPIs tailored to your business needs.

We hope you are now all set to build a KPI report on Factor’s. If you still have queries, reach out to us. Learn more about the other features available on Factor’s and understand how you can use them to your advantage.

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