Overview

Custom KPIs are useful sets of performance metrics you can set up customised for your organisation’s internal definitions. There are three kinds of custom KPIs you can set up inside Factors:

CRM-based KPIs- These are KPIs based on your CRM definitions. Eg- KPI named “Closed won leads” would be set up as all Hubspot contacts where Hubspot Contact Lead Stage Equals Closed Won
Derived KPIs- These are KPIs that are combinations of Ready-To-Use and Custom KPIs. Eg- KPI named “Cost Per User (Paid Search)” would be set up as a ratio of Spends and Unique Users (A/B) where Channel Equals Paid Search
Event-Based KPIs- These can be used as a way to evaluate the performance of specific marketing efforts or campaigns, eg- tracking the number of sign-ups or purchases made after coming through a particular ad source

In case you haven't already, you can integrate your CRM with Factors using this doc↗️

How to setup a Custom KPI

Setting up Custom KPIs inside Factors is simple, just follow along:

Log in to your Factors account and click on the Configuration icon, inside Click on Custom KPIs.
Once inside, click on + Add New on the top right.
Add the name you want to call this Custom KPI and a small description for your team.
You can now select the Type of Custom KPI you wish to set up from the KPI Type. You can set up a CRM-based KPI (default), a Derived KPI or an Event-Based KPI. Let's look at them individually.

Setting up a CRM-based KPI (Default)

Let's look at how we can create the “Closed won leads” custom KPI inside Factors. We will start by selecting the KPI Type as Default:

Select the Category according to the CRM workflow you use and have integrated with Factors. Here’s a guide to integrating your CRM with Factors if you haven’t already.
You can now select a Function you wish to use on the selected category. For our “Closed won leads” we need to see Unique contacts.
Filter the contacts by their deal stage by selecting Hubspot Contact Lead Stage as the property inside Filter By.
We are almost done, just select the Filter condition to Hubspot Contact Lead Stage Equals Closed Won like so:
Lastly, just select the Date Field inside Set Time To which will serve as the horizontal time axis for this tracking this KPI.
Hit Save and that’s it! Your custom KPI has now been set up inside Factors.

Setting up a Derived KPI

Let's look at how we can create the “Cost Per User (Paid Search)” Custom KPI inside Factors. We will start by selecting the KPI Type as Derived.

Click + Add KPI to add the following KPIs- Spend and Unique Users. Filter the Unique User by channel and select Channel Equals Paid Search like so:
We are almost done, you can now add the formula as A/B to get our desired KPI.
Hit Save and that’s it! Your custom KPI has now been set up inside Factors.

Additional Use cases

You can add constants as operations into your KPI as well.

You can display your Custom KPI as a percentage where a %metric is more useful

Setting up Event Based KPIs

Let's look at how we can create an event-based KPI to track the number of “Get Demo” form fills from paid mediums. We will start by selecting the KPI Type as Event Based.

Select the event inside the dropdown that you wish to track. For our particular custom KPI we will pick Get a Demo.
Select the function you wish to apply to this event. For our specific example we want to look at unique Demos booked.
Add a filter to the selected event to match your requirements. Since we want to look at Demos booked from paid mediums, we add that filter.
Hit Save and that’s it! Your custom KPI has now been set up inside Factors.

This is how you can set up Custom KPIs inside Factors. Please Note- It can take a couple of hours before the KPI can be used inside reports.

Need help setting up more complex Custom KPIs for your organisation?
You can reach out to us via Intercom Chat or write to us at praveen@factors.ai.