MARKETING ANALYTICS: MEASURING DATA THAT MATTERS.

Digital
July 22, 2014

Amid the plethora of metrics and endless stream of numbers at your fingertips, gaining a well-rounded understanding of your marketing performance can often seem overwhelming.

Peeling back the layers of general metrics without context and getting to the juicy centre of what makes your audience tick, will help you communicate business suggestions and impacts, and guide future strategy and tactics.

So where do we start?

The mission:

Your mission, should you choose to accept it, is to collect and analyse your overall marketing efforts, and avoid simply regurgitating data in the process.

It can be easy to get bogged down in data. And even easier to fall into producing reports on fancy numbers that essentially mean nothing when they’re not sewn together to gather meaningful insights. Measuring sessions and bounce rates has its merits, but need to be paired with other metrics to tell a more meaningful story.

Your target:

Analysis. The ROI of your social media, email, search and other digital campaigns, the customer lifecycle (the person, not the page or page view), your leads and conversions. These guys should be the entire focus of your data-reporting mission.

Enemy forces aka Web Metrics:

Web analytics are handy for the web specialist, but not so helpful in assessing marketing ROI. Ignore general metrics such as bounce rates, time on site and site speed for the time being.

Unless paired with another key metric for added context in order to support marketing analysis, they’re not of much use to you. They can also confuse the reader who needs to interpret the data in order to make decisions for their business.

Report back:

After you’ve got your analysis in check, report back to the head honcho who needs help pushing the button on certain directions for their business.

Note: He’ll maybe give you a high-five and thank you for preventing the headache that would normally have been interpreting your 10-page data puke in the past.

Debrief:

Spending the right amount of time on the right analytics will give you the power to provide supreme insights, suggest effective solutions and instil food for thought to managers, directors and CEOs.

A little bit of web-focused data is good, and it does lend a helpful hand to marketing analytics, but sifting out the non-essential numbers for better business direction is mission: successful.