In the world of marketing, there is often a lot of talk about marketing metrics or ‘big data’ which can be overwhelming, especially for small companies or those just getting started with their marketing. It is true that marketing metrics are very important when it comes to successful marketing planning, so we will give a quick and simple breakdown on why marketing metrics are important and how to put them to good use.
Marketing metrics put simply is the measurement of your marketing activities, this could be anything from website analytics which tell you how many visitors viewed your website and how they interacted with it, right through to digital advertising data such as advert views, impressions, clicks and conversions. The reason marketing metrics are important is because they help you to measure the effectiveness of your marketing activities, so that you can review them and optimise them.
Nobody wants to waste money on marketing, so it is important to understand how your money is being spent and what return you are getting from it, this can only be achieved through proper measurement and analysis. We always suggest that our clients invest the time to get their marketing metrics set-up properly to help paint an accurate picture of how their marketing campaigns are performing. This could be as simple as setting up Google analytics to track website traffic, or using Google Tag Manager to track clicks, form submissions and other activities.
A lot of companies have good marketing data available to them, but the data alone is useless, what really matters is how you use the data. Putting aside some regular time to review your marketing metrics is always a good idea. When you become more familiar with your data and what it means, you can make informed decisions and take action to improve your marketing activities, which could mean more clicks on your adverts, better engagement on your website, reduced costs and an overall better return on your marketing investment.
For help implementing marketing metrics and setting up a review and optimisation process for your business, or for any other marketing questions, please get in touch using the contact us form, we’d love to hear from you.