Tips for measuring your marketing effectiveness
Next, make sure you have the necessary tools in place to track and analyze your data. These tools could include Google Analytics for website traffic or a CRM (customer relationship management) system for tracking sales leads. Keep in mind that website platforms, like wix.com and godaddy.com, offer all kinds of measurement and analysis tools, so if you already subscribe to a website platform, make sure you check what they offer.
You don’t need a BI solution to understand the value of one metric from another. A metric is a unit of measurement. For marketers, metrics represent everything from the number of website visitors to how many new leads they generate and close. The average duration of a visitor to your website, for example, matters a lot to many marketers who understand the value of that time with potential prospects.
What is your key performance indicator?
In the modern digital world, every medium has a metric. These medium-specific metrics, like email open and click thru rates, social media likes and followers, and retail conversion rates all matter. Figure out which one really matters most to you and you have a KPI. By definition KPIs should be limited to one or two metrics.
By bringing all of your data into one place, you can quickly see which areas are performing well and which need improvement. In addition, by focusing on key performance indicators (KPIs), you can ensure that your sales and marketing efforts stay aligned with your objectives. A number of software programs and online services can make the process of easier. With a little time and effort, you can develop an effective sales and marketing dashboard that will help you better understand and optimize your business performance.
Marketers often focus on trying to lift metrics by fixing activities that don’t work. Instead, invest your time, energy, and budget on the strategies and tactics that work best. This way you can actually learn and improve your overall marketing performance.