It’s a hard truth that the KPIs marketers often use to assess localization performance aren’t always relevant or useful. Yeah, it’s nice to know your price per word is going down, or that your deliveries are on schedule 95% of the time, but that data isn’t really showing you how your content performs.
Does it really matter if your costs decrease a little if your content isn’t working for you in your new markets?
And what does it mean for content to perform in each market?
Let’s take a quick look at old-school metrics (non-strategic), and some of the new kids on the block (strategic) we’d like to replace them with.
Non-strategic KPIs show activity, but they don’t show the true impact of localization. For example, ‘likes’ show buzz around your brand but they tell you nothing about increased market share and revenue growth. Sure, buzz can push you towards your goal, but it’s not the end-goal itself. Pageviews, fans, and followers are other examples of so-called ‘vanity metrics’ that don’t necessarily tie to the numbers that matter most. We don’t want to tell you to stop looking at these…but we will tell you to stop looking only at these.
With strategic KPIs, on the other hand, you can begin to look at the business outcomes of your localization program, understand how business decisions affect results, and demonstrate why localization matters for your company.
Some strategic metrics include conversion rates, engagement, click-through rates, and the number of new leads, keeping the focus on sales. And the ultimate strategic KPIs are revenue growth and market share.
Sorting through massive amounts of data can be overwhelming, but the effort is well worth it if you focus on the data that shows your progress against your company’s strategic goals.
We’ve got a workbook for you to help figure this stuff out that you can download below: From KPIs to ROI: Proving the Business Impact of Smart Localization.
And if you want help strategizing on KPIs, we love that stuff. Connect with us here.