In all aspects of life metrics matter. In marketing, metrics are what show whether a campaign was successful or if it needs to go back to the drawing board. As marketers, we look to metrics to make sure we are maximizing the ROI (return on investment) for our clients. As a customer, if you are not getting metrics from your agency or your platform, you need to get them. Metrics are what transform a “gut feeling” into measurable and actionable information. Here are some things to make sure to consider when reviewing your metrics.
What do those metrics mean?
While this is self-explanatory, if you don’t know what a metric (measurement) means or represents, you won’t be able to accurately use it to review the success or the limitations of a campaign. If you don’t want to ask someone, try Google for at least a basic definition.
How do the metrics fit into my overall marketing strategy?
So now that you are confident in what each metric means and represents, you need to take time to see how each result fits into your overall marketing strategy. For example, if one of your primary goals is to drive brand awareness, you need to evaluate how many “New Visitors” you want on your website versus a repeat visitor. This information will help guide you to take any steps required to hit your overall marketing goals.
Do those results work toward achieving my overall organizational goals?
Now that you know how your results fit into your overall marketing strategy take time to evaluate how your marketing strategy works in support of your organizational goals. If there is not a defined linkage between the two, then it might be time to review your marketing strategy. If you are a retail store and your historical statistics show that you generate more revenue per customer from an in-store visit than from a website purchase, then you need to ensure that your marketing strategy is driving customers to visit the store in-person rather than online. As such, your metrics should support that marketing strategy (i.e., digital coupons to bring in, incentives to visit in-person, etc.).
How can I take what I’ve learned and improve my campaign?
Lastly, once you have a solid understanding of not only your metrics but how the work toward your marketing strategy and drive your overall business goals, it is time to review the results from a holistic perspective. Any changes you make to improve your campaign needs to be viewed through an all-inclusive perspective. These changes will need to work to continue supporting the overall marketing strategy and fit within the organizational goals. For example, if one of your organizational goals is to increase revenue, and you know that people are more likely to use your product/service if they visit the website, then one of your primary marketing goals should be to drive traffic to your website. If your website’s analytics are showing traffic from certain websites, it would be beneficial to review those websites and see how their audience mirrors your target customer. This study could yield information about other potential websites to advertise on, keywords to utilize in your overall marketing efforts, or insights into your ideal client.
Metrics matter. Make sure you are leveraging the vast amount information available to you to help grow your organization.