Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
Ideally, you need to have a strategy (in a form of a strategy map) before you start thinking about the ways to measure its execution (KPIs). Don't have a strategy map yet? Use free Strategy Map Wizard to create a strategy map for your current business challenges. The wizard will:
The whole process takes on average 6 minutes. Give it a try right now - it's free.
Seldom does a company produce such a product or provide such a service that works for 'everybody' on this planet. In other words, the offerings from organizations are prepared with a definite set of people in mind who will be using it. To carry out the job of segmentation effectively, one needs to make a clear 'profile' of the customer base that will be built.
An honest and useful shopper profile can be developed by using characteristics like demographic, geographic and psychographic.
For instance, to decide whether a particular magazine be used for advertising or not, the company can consult the magazine advertisers to know the age-group from which the readers of that magazine belong. In case the product is for readers falling into the age-group, one can go ahead with the decision. This is one of the ways one can get an idea about Customer profile analysis.
Working on customer description is one of the most important tasks of marketing people and has to be performed to create a useful prospect list.
By moving on the path of 'buyer profiling' with enough detailing, one can have the causes that make up for the 'construction', 'spreading' and 'degrading' of customer base. Further, indicators that mirror the changes in the area of customer mapping can be framed and followed to keep the organization on track.
This is the actual scorecard with Customer Profiling Dashboard and performance indicators. The performance indicators include: buying behavior perspective, customer base which showed rise in buying frequency, increase in recency of purchase, level of customization climbing, increase in sales per customer basis, integration and best practices perspective, staff fraction, database alignment index, best practices abiding ratio, interdepartmental cohesion, process perspective, number of areas covered, number of methods utilized, number of technologies utilized, time taken in the process, benefits and performance perspective, customer retention ratio, issues addressing index, customer base expansion, cost: revenue ratio.
How is this book different from 796 other book titles about KPIs on Amazon?
"Before writing a single line, I formulated some guiding principles, one of them was: "If our clients ask, "How can I find a good KPI for..." - I want this book to provide a perfect answer."