Last week, we talked in-depth about why having proper analytics and measuring tools in place matters to you – the business owner and final decision-maker. Today, we want to dig in a bit deeper and talk about the specific key performance indicators (kpi’s) that can influence those decisions.
In this world of measurement and analytics, there can be a lot of noise. Honestly, if you want to measure and report on something, there is a way to do it. A few years ago, we started working with an organization that was new to us but not new to digital marketing. In our initial discovery meeting, they could not answer a few key questions around the effectiveness of their marketing and key performance metrics. As they started sharing.
we quickly understood why
While they were receiving a monthly report from their previous marketing firm, it was (no kidding) nearly 100 pages long! Additionally, the phone number lists report took so long to compile each month that they were not receiving it until several weeks after the month-end – in some cases, months later!
This report, while very detailed and packed with data, was not helpful. In fact, they admitted that they rarely even looked at it. It was time intensive for their marketing firm to create, but it did not deliver any value.
As the leader of your organization
It is vital for you to be able to identify the IE Lists data points that matter most and help your marketing team set the priorities around them. To start, think about your kpi’s as a self-assessment for your company. If you have to give yourself a letter grade, what piece of information do you need to assess that score? Really dig down to those core pieces that tell you if you are going in the right direction. Because while vanity metrics are readily available and can make us feel as if we are accomplishing something, they don’t really tell us if we are moving the needle.
