Streamlining Kpis for an asset Management Client

Case Study:

Client:

Confidential Asset Management Client

Asset Management

Industry:

Challenge:

The client struggled with an overwhelming number of KPIs, a lack of understanding of their significance, and difficulty in tying KPIs to commercial outcomes. The sprawling nature of their KPIs made it challenging for the marketing team to function cohesively. Defining effective KPIs was particularly complex since the client does not drive revenue directly from their website.

Solution:

Leveraging our extensive digital marketing analytics expertise and years of experience working with asset management clients, we facilitated and guided the process to create a simplified, cohesive set of KPIs. Our unique suite of tools and solutions enabled us to guide the client through this complex process.

Implementation:

We organized a series of workshops and educational sessions to collaboratively define meaningful KPIs.

Our data experts facilitated these sessions, helping to narrow down the KPIs through open discussions and practical insights.

We worked closely with the client’s marketing team to ensure that the defined KPIs were simple, relevant, and aligned with commercial outcomes.

example of Complexity:

At first glance, selecting KPIs might seem straightforward. For example, one might consider “visits” as a KPI. However, it quickly becomes complex: Which visits are important? Which visits lead to improved engagement and increased sales? It’s crucial to identify which visits matter based on the products being pushed and the overall business goals. This process of making KPIs more nuanced ensures they are more usable and meaningful for clients.

extending beyond KpIs:

We didn’t stop at defining the KPIs. To enable different teams, from senior leadership to specific digital channels like paid search and email teams, we developed bespoke dashboards. These dashboards presented the same KPIs through the specific lens of each team, allowing them to see how their contributions affected overall performance. This cohesive approach ensured all teams were aligned and could collaborate effectively to drive improvements.

results:

Simplified KpIs:

The client now has a streamlined set of KPIs that are easy to understand and directly tied to their marketing goals.

Improved Team Cohesion:

The marketing team, previously fragmented, now operates with a unified purpose, significantly improving collaboration and efficiency.

Ongoing alignment:

We established a continuous dialogue with the client, ensuring that KPIs evolve as their understanding and business needs change. This alignment extends from the senior leadership team to the boots on the ground, enhancing both planning and reporting.

Tailored Dashboards:

The bespoke dashboards allowed each team to view and act on the same data from their unique perspectives, fostering better understanding and collaboration.

reduced Time Spent reporting:

Having a simplified set of KPIs allowed for a a more streamlined strategy of reporting and less time spent gathering and analysing data.

Reporting Hours Spent Before vs. After Implementing

the Disclosed Streamlined KPI Framework