Before you step into your analytics, the most important thing is to understand what you’re looking at. Different metrics can give you different information about your business, and BOC Partners is happy to show how you how important it is to understand all of the insight these metrics can offer you!
Marketing Metrics – What Are They?
Marketing metrics are the specific metrics that allow marketers access to numeric data, which then assesses their client’s performance against organizational goals. Different measurement devices include website visitor counts, page/video views, impressions and click-through rates. Not only do these metrics display statistical information regarding traffic flow, but they can highlight the fact that not all traffic flow is good. These metrics are able to explain that just because your numbers seem to be doing well, the information represented may not be as valuable to your company’s bottom line or overall performance.
Developing the right metrics…
Although achieving a successful marketing program for an individual client can be hard work, the metrics are still the basis of the entire campaign. Not only do these metrics allow for insight into the business’ current performance, but it allows for an all-encompassing view of the success of the campaign as a whole. For example, legacy (or common) metrics analyze all the different tactics that the buyer used during a specific stage of the buying cycle. They’re usually some of the easiest metrics to interpret, because they automatically run their own data. Think of a legacy metric as a puzzle piece – small by itself, but put many of them together and you get the full picture. With all of these pieces, you have the marketing guidelines for determining each program and its impact on the client.
In measuring performance, the farther you go up the marketing chain, the more targeted advertising metrics and brand awareness becomes important. You start with the metrics that have the lowest attribution/value, and end up concentrating on the number of views, impressions, and unique clicks – all information that targets specific users and prospects, which eventually will lead to a sale.
Just remember – not every click is a good click. Just because you know what the number is, and it looks good, does not mean it has value towards your business. There is more value knowing that your message was delivered to the correct audience than there is knowing that your message was delivered to the wrong one. Wouldn’t you rather have targeted people who are interested in your product, rather than those who aren’t? To achieve real ROI, you have to have the ability to incorporate knowledge from multiple programs to target your accounts and intended sources. Metrics allow you to have that ability – which allows you to understand which tactics are the most successful and move towards goal conversion.