Track SMART KPIs that support your main objectives

23.01.2023

 

How do you benefit the most from your business monitoring and controlling system? Set the right incentives in your organisation by tracking and benchmarking the SMART KPIs!

 

Follow these steps to be on the right path::

1. Define and set your main objective
2. Divide the main objective in weekly or monthly goals
3. Track KPIs that support these goals

 

Let’s assume you are a SaaS company and your main objective is to increase customer satisfaction by 20% year over year. First, we divide the goal into monthly parts. Hence, the goal is to increase customer satisfaction by 1.53% on a monthly basis. Second, we identify SMART KPIs that support these monthly targets. For example, improve customer support by shortening response time, simplify installation by reducing the number of steps needed, develop and release features that customers ask the most, etc.

 

SMART KPIs follow the scheme outlined below: 

• Specific: Do your identified KPIs support your main objective?
• Measurable: Can you measure the output of your KPIs with your goals?
• Achievable: Are your KPIs realistic and reasonable?
• Relevant: does your KPIs align the objectives where you want them to be?
• Timely: At what time do you need the information from your KPIs that they are of value to you?

 

Tracking SMART KPIs results in a complete overview of progress towards your goals and further improves your decision-making ability.