Marketing in a Digital World. The Definition of Relevant Metrics in Today’s Marketing Programs
With so many digital tools at our disposal, marketers often fall into the trap of believing that all metrics are created equal. We often make two common mistakes in regards to this.
First, we fixate on what metrics tell us without understanding and applying the rationale of the voice of the customer. In this case we feel falsely empowered about what we learn because we have the ability to change a promotion or campaign in real-time through A/B testing. But that gain is often eclipsed by missing the larger view of the customer’s overall perspective by focusing on the single result being tested.
Secondly, A/B testing gives you the short term view – a snapshot in time -- that is often focused on a product-related campaign message. It provides little understanding of how the prospect or customer thinks beyond your products to their feelings about your company and its brand.
In reality, the most valuable metrics are the ones that provide your prospects’ or customers’ insights into what you and your brand stand for. Metrics are a journey that reflect the relationship, the promise you have with your customer and prospect. They are not an end in themselves. Metrics that measure how effectively those outside the company resonate with the brand message, that ultimately reflect the growth of a person’s brand loyalty over time are the most valuable.
Those measurements that will help you determine a deepening relationship with prospects and customers that you want to be sure to capture are:
- Return visits to your website
- Referral traffic to your website
- Social shares
- NPS or other similar customer satisfaction measurements
- Newsletter signups and Learning registrations
- Anyone who is repeatedly engaging with your our brand even after they have already become a customer
Don’t be seduced by marketing technology into measuring everything just because you can. That’s no way to run or build a brand.