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5 KPIs to Display in Your Corporate Digital Signage

5 KPIs to Display in Your Corporate Digital Signage

For every company to succeed, one should practice effective communication combined with a good set of KPIs. A key performance indicator is a way of measuring the effectiveness of an organization and its progress towards achieving its goals.

To help you set your key performance indicators that can manifest your company’s goals and objectives, here are 5 KPIs that you can use to display in your conference rooms to track the progress of your KPIs:

1. Common Issues

Every company faces tons of inquiries, and technical errors almost every day. That is why it is important that people on this team have proper communication in delegating the task since data are overflowing. Customer success teams should be able to determine recurring issues with the right strategy.

For instance, since the goal is to have simplified data, one way to do so is through categorizing and quantifying the customers’ issues. Then, the team can easily analyze and interpret the problem right away. Afterward, you may communicate the results to the respective department to immediately address the problem.

2. Customer Effort Score

One important KPI that you should look into is the customer effort score (CES). A 2013 Gartner Research result shows that 94% of customers who experience little effort in using their product or service have a higher chance of purchasing more in the same company.

In short, this key performance indicator measures the satisfaction of your customers by rating your products based on their experience while using them. By measuring it, you can make a survey using the Likert scale. It can be a 5 or 7-point scale with a strongly agree to strongly disagree label. In this way, you will know the degree of their experience with your product.

3. Time to Value

This KPI measures the amount of time your customers exert before they get value from your product or service. This metric is vital since if you fail to manage your product/service value, you’ll just lose your customers to your competitors. Hence, there’s a higher chance of repurchasing if the time to value of the customer is shorter. This means that the customers’ investment in your product/service has been worth it.

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4. Cross-sell and Upsell Rate

This another KPI contributes to your company’s revenue growth. Why is that? Basically, cross-selling means offering your customers a new product prior to their primary purchase. On the other hand, upselling is another strategy that you use for your customers by recommending options on your products or services offered for an additional purchase. Therefore, these two will help to boost your sales growth.

5. Product Stickiness

You wouldn’t want to lose a customer right? Hence, this key performance indicator is important because it will give you the confidence to provide and contribute to what they really. In a company customer retention is vital.

Basically, product stickiness measures the customer-product engagement in which you measure the frequency of your customers using your product. To know the stickiness, try to divide the daily active users by the monthly active users. Another way to help engage your product to your customers is by simply sending them tips and tutorials on how to use your product.

Put simply, your organization needs real-time visuals to see how much your team has completed. With the right KPI and digital signage, your team can immediately determine the actual progress of each task. If you’re still tracking your KPIs in a traditional way, here are three reasons why you should use digital signage.
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