Your Date With Miss Metrics
It’s late and you are sitting alone at a bar.
You are surrounded by marketing systems. A group of blogs are drinking huddled in the corner talking strategy, while newsletters are watching sports on the big TV and adverts are drinking shots at the bar trying to forget a long days work performing.
Then across the room you see a lovely lady – her name is Miss Metrics. You go over and start up a conversation. Amazingly, no one else in the bar seems all that interested in her. She seems like an interesting, mysterious sort of girl, with a lot of hidden depths just waiting to be explored. So you ask her out on a date. You learn a little more, and after a few more casual dates you finally become an official item. Once you open up and let her in, she shows you the hidden secrets of your marketing department. She helps you to measure how you’re doing as a business, how well your marketing efforts are performing and even how close you are to your company goals.
The relationship goes on until you feel you know everything about her. You can predict her moods, noticing when she is looking down and do something nice to make her feel better. This makes your relationship stronger and you start to see fantastically positive results – and by changing small behaviours she helps open your mind and see the big picture. And even when she has a bad day and goes a little crazy, you understand why, and are able to adapt and adjust until she’s happy again. She has become so important to you – she is your benchmark, the one you look to for advice and guidance, who helps you probe for weakness and who lets you in on the effects of your decisions – good or bad.
I might have taken the metaphor to its logical end there, but hopefully you get the idea. When you are looking at your business and your performance, metrics should be the thing you turn to. This is even more important in your marketing efforts. A lot of people think that marketing is a difficult thing to measure, and so generally don’t bother. But if you don’t measure your marketing efforts, how will you know what is working, and what is just a waste of money?
But How Do I Measure My Marketing?
You need 3 things before you can start measuring your marketing efforts:
- Your marketing goals
- Your key performance indicators (or measurement factors)
- Your plan for gathering performance information
For example, if you want your latest blog post to be seen by 30 people within 2 weeks, you need a strategy to promote that blog post, and a way to measure how many people actually read your post. You could promote your post through social media, with links directing customers back to the website. All of your links would link to the website, giving you a solid base for tracking reads. You will then be able to tally the total visits to your blog post page. If you have published your post on LinkedIn as well, make sure you add those reads into your total. At the end of 2 weeks, you can analyse how many people read your post, and if you reached your goal. This allows you to evaluate the success of your strategy, and perhaps tweak it for next time if you want to see better results. If you’re posting on social media, you are able to see how many people have interacted with your post and in what way. On some platforms like LinkedIn, you can go even deeper, and find out how many people have seen your post on a granular level.
In the world of print advertising, it is still incredibly difficult to measure your impact and the actual success of the campaign, but in the digital marketing age it has never been easier. For which digital marketing method you chose, there are several different ways to measure its effectiveness. The key is understanding what you want to achieve from your marketing, and what factors you will use to track and measure its success. You might want to do this through number of views, click throughs, lead conversions or open rates – the options are endless.
Measuring marketing effectiveness can be a daunting task, but in reality it has never been easier. In fact, measuring your campaigns’ success allows you to make changes as you go, and will put you head and shoulders above your competitors. By utilising metrics in your marketing efforts, you are able to discover which are your most powerful campaigns and capitalise on them, helping you grow your business quicker. If you want some advice about measuring the success of your marketing, or some help creating a marketing strategy, get in touch with us today for a free consultation.