What are some important Digital adoption KPIs or Key Performance Indicators to have? Why are these KPIs important to have if you are doing a digital adoption? Find out below.
Digital Adoption KPIs
Why do you need digital adoption KPIs? For one, their KPIs help you get a clear picture of how well your digital adoption is going and if the business value is being delivered. By setting up appropriate KPIs, you can gauge your performance in terms of what you set out to achieve and in terms of the level of business value (or ROI) that is delivered.
Digital Adoption KPIs: Business Value
How do you define ‘business value’ when it comes to digital adoption? The business value for digital adoption can be defined as the level of business impact that is delivered through the use of digital technologies such as mobile technology (i.e. smartphones and tablets), social media, cloud computing, Internet of Things (IoT), big data, etc.
Then, you can define your adoption KPIs based on a few things:
1. What business impact do you want to achieve with the use of digital technologies?
2. What is the level of impact you want to achieve? (You can measure this by looking at the financial value, the time value, the customer value, etc.)
3. How can you measure that impact? (This is where your KPIs come in handy.)
So, for example, if you are in charge of your company’s social media marketing efforts and your goal is to increase brand awareness so that you get more leads for your business, then the social media adoption KPIs that you should have are:
- The number of new followers on our company’s social media accounts. For example, Facebook, Twitter, LinkedIn, etc.
- Number of likes on our company’s Facebook page
- Number of new likes on our company’s Facebook posts (i.e. content)
Digital Adoption KPIs: The Importance
As mentioned earlier in this post, you must set up appropriate KPIs to gauge or assess how well your adoption efforts are doing. It will be difficult to assess how well your digital adoption efforts are doing if you don’t have any metrics in place to gauge performance.
If you don’t have any metrics in place to gauge performance, then it is quite likely that you’ll not be able to come up with a concrete digital strategy or plan for your business. Having KPIs in place will help guide your strategy and plan for adoption.
So, for example, if you want to improve customer satisfaction by ensuring that they have a better experience when using your company’s digital platforms or channels, then you need to set up KPIs that will help you measure customer satisfaction.
Here’s a list of a few other digital adoption KPIs that you could have:
- Percentage of visitors coming from a mobile device
- Number of visitors from a mobile device
- Percentage of sales from a mobile device
- Number of sales from a mobile device
As you can see, there are numerous digital adoption KPIs that you can have if you are planning on implementing a digital strategy. It will be up to you to determine which KPIs would work best for your business.