The Importance of Context in Tracking KPIs

– Brands claim that their customers love their emails, but only around 50% of them actually open the first email.
– The cost of acquiring each email is $5, but when considering the open rate, the cost per open is actually $10.
– It is important to consider the context and interpretation of KPIs, and to focus on creating a memorable and valuable customer experience.Scrutinize and reevaluate the calculation and interpretation of KPIs to ensure they provide the appropriate context for decision-making.Brands: “Our customers love our emails!”
Me: “What percentage of them open the first one?”
Brands: “Around 50%.”
Me: “How much did that email cost you to acquire?”
Brands: “$5.”
Me: “Only 50% opened it. You mean $10.”
Brands: “Huh?”

Any KPI you track has to come with context. A lot of KPIs lack the appropriate context. You should look at your current KPIs and scrutinize how they are calculated and better understand other ways they can be interpreted. Timing is everything in the customer journey, so do your best to create an experience that is more memorable and worthy than a 50% open rate. #marketing #ecommerce #customerjourneyhttps://www.linkedin.com/in/jivanco

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