Creating a KPI

What is a KPI?

In Loops, a KPI is a quantifiable metric or measurement that can be used to evaluate user or account activity within your product or service, within a particular time period.

Here are a few examples of KPIs within Loops:

• The number of times a particular feature is used on Day 0 of joining your service
• The amount of revenue generated within a 30-day period
• Whether or not users performed a retention activity within 4 weeks of onboarding

How to create a KPI

1. Log into Loops and click “Data Management” in the left-side navigation bar.
2. Click “KPIs” in the left-side menu.
3. Click the Create KPI button at the top-right corner of the screen, and a dialog box will appear.
4. Select an “Entity type” based on whether the KPI will reflect the activity of individual users or accounts (e.g. average revenue per user vs. average revenue per account).
5. Next, select a “KPI Type” based on the type of KPI you want to define:
   • Retention – for measuring the rate of users that return to your product
   • Conversion/Adoption – for measuring the rate of users that convert to a new status or adopt a specific behavior
   • Engagement – for measuring the rate of users that engage with your product (and are thus considered active)
   • Monetization – for measuring the rate of customers who continued to pay for your product, or the amount of revenue generated by users

If creating a Retention KPI:

6. Enter a name and description for the KPI.
7. Specify a “starting point” for beginning to measure retention. This will be a saved data object or user property that occurs at a specific point in time. Retention will be determined from that point forward, per user/account.
8. Define the events(s) or saved data object(s) that indicate whether a user/account has been retained and is thus considered active. This is referred to as the “retention activity”.
9. Specify the "analysis time frame" – the period during which the retention activity must be performed (in order for retention to have occurred). For example: “on Week 2 since the starting point”.
   • Note that only users/accounts who had sufficient time to achieve the KPI (given the specified time frame) will be part of the analysis.
10. Click Save.

If creating a Conversion/Adoption KPI:

6. Enter a name and description for the KPI.

7. Define the event, saved data object, or user property that indicates whether conversion or adoption has occurred. For example: usage of a particular feature.

8. Specify the "analysis time frame" – the period during which the conversion/adoption activity must be performed (in order for conversion/adoption to have occurred).

• Note that only users/accounts who had sufficient time to achieve the KPI (given the specified time frame) will be part of the analysis.

9. Click Save.

If creating an Engagement KPI:

6. Select whether you want to measure:

• The number of unique users/accounts who were active within a specific day/week/month (“DAU/WAU/MAU”)
• The number of days with in a week or 4-week period that users/accounts were active (“L7/L28”)
• The number of times a particular feature was used (“Usage”)

7. If you select “DAU/WAU/MAU” or “L7/L28”: define the event(s) or saved data object(s) that indicate whether a user/account was active.

8. Click Save.

If creating a Monetization KPI:

6.  Select whether you want to measure the amount of revenue collected from a customer, or the number of customers who continued paying after a fixed amount of time.

7. If selecting…

• “Revenue” – enter a name and description for the KPI, and select the column or property where the revenue value is stored.
• “Payment Retention” – enter a name and description for the KPI, and specify the conditions to be met for a user to be considered as having continued to pay.

8. Click Save.

Once a KPI has been successfully created, it will appear under “KPIs” on the Data Management page. From there, you’ll be able to edit, duplicate or delete it.