What was I thinking?
Several years ago, I started doing some very irrational things.
I would make 3 trips take out the trash when I could have carried everything in one.
If I had a plate and a cup to take to the sink, I would make 2 trips.
One for the cup. One for the plate.
Unloading groceries took forever, one bag at a time.
I was LOOKING for ways to be as inefficient as possible.
Why the Looney Tunes behavior?
I had just bought a FitBit like device (I can't remember the actual brand).
Now that I could easily measure my steps, I did nutty things to maximize "my number."
I'm not the only one.
Around 2010-2011, Wells Fargo emphasized opening new accounts. In addition, they provided monetary incentives for employees to make their numbers.
Boy, did they.
Fast forward to 2016. Wells paid a $185 million settlement because their employees did crazy things to meet their numbers. Like opening about 2 million unauthorized accounts.
I'm not saying you are going to commit fraud to make your numbers. But every day, small businesses do themselves a disservice by focusing on short-term KPIs that don't match their long-term goals.
- Increasing email open rates without increasing sales (or moving people towards a sale)
- Increasing gross sales by giving away most of their profit (think Groupon)
- Increasing click-throughs with sensational headlines only to have readers immediately bounce because "the steak didn't live up to the sizzle."
- Growing your email list with a "free offer" that attracts the wrong audience.
- Sending out more proposals without first qualifying the lead
Managing your KPIs is a great way to grow your business. Just make sure the ones you pick align with your long-term goals.
Yours for smarter marketing,
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