KPI’S
A KPI is a short term reference for a key performance indicator. KPI’s are used within business to track success and performance and how effective a business is on achieving their set goal or targets. There are different types of KPI’s within a variety of fields such as for supply chain and financial metrics. For Rixo with their collaboration with Dua Ljpa it would be a main focus to track social media metrics and marketing metrics.
To track Rixo’s social media performance would show their popularity of their online campaign and if it turns over revenue to connect with potential customers and if not how to increase performance and awareness to create more publicity for the brand and collaboration. Rixo could do this by tracking the increase of followers every 48 hours, likewise with likes and reposts such as on Instagram; which is their most popular social media platform. By being able to track their activity on social media will in turn give Rixo an advantage to how fast they’re online presence is growing and if they need to improve on connecting to their audience.
Furthermore in similarity by tracking their marketing metrics Rixo can measure the success of their marketing campaign. This includes brand awareness which is important for any rising brand such as Rixo who is looking for more publicity. Just like analysing their online social media performance looking at their marketing metrics incudes just the same as looking at their online presence due to the importance of their marketing digitally. This would be tracked as the same way as mentioned before or expanding on those methods also analysing the sign up to their website and newsletter. Therefore indicating how many individuals are visiting and gaining interest into the website and how effective the website is becoming on attracting customers and sales.
PFBR