The fifth step in creating a market plan is to determine key performance indicators (KPIs) for your business market plan.
KPIs are measurements used to evaluate how well you are achieving your business goals. KPIs should be specific, measurable, achievable, relevant, and time-bound.
The KPIs you set should align with your business goals. For example, if your business goal is to increase sales, you can use KPIs such as the number of transactions, transaction value, or conversion rate. If your business goal is to increase awareness, you can use KPIs such as the number of visitors, followers, or views.
By determining KPIs, you can measure the effectiveness of your market plan and identify areas that need improvement or optimization.
6. Set Your Marketing Budget
