The keys to measuring your marketing success
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The keys to measuring your marketing success: what, why and how – plus a free KPI template

Author: Daniel Huss | Categories: Digital Analytics, Digital Marketing

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You hear it time and again from your team, “we need more insight into how the website helps us our division.” This is a common request without a common solution.

And, I definitely use “common” in the truest sense of the word because each team division will need a custom view into what matters to them.

This is not to say, however, that a template needs to be custom for each division. To get to the heart of measuring what your firm needs to measure, you really need to focus on three key elements to your measurement strategy: why, what and how.

Why

A template will allow your organization to efficiently add data in a predetermined and structured way. It also takes the thinking out of the presentation layer of the data, freeing thinking up for the most important task of deciding which metrics to include.

Lastly, it forces a decision about what is most important by limiting that amount of data points available. An upper limit on how many metrics can go into the dashboard results in creativity through necessity – ensuring only the most relevant data is being regularly reviewed.

What

To successfully track the elements most critical to your success, edynamic recommends utilizing an analytics dashboard (like our free KPI template) with carefully selected metrics, built together with each business stakeholder group.

Your “what” will vary by business unit, so your dashboard will not contain the same metrics for each division. Sales, for example, needs to see lead flow data. HR may need to see unique views for a job listing and marketing may care about the frequency that visitors are returning back to the site.

Therefore, you want to tease out data that matters to your specific team. Our template is designed to split data between business divisions, providing the most relevant data points to each.

How

Finally, you need to determine the process by which you will collate this critical data. To navigate this process, first identify the key staff with a stake in your digital ecosystem (website, CRM, social, email) and to gather what details are important to them on a business level, and make sure to track those data points.

Those business goals to specific metrics can be tricky when not directly tied to sales, however it is made a bit more manageable within the context of the template by splitting metrics into three categories, best explained by Avinash Kaushik:

  • Acquisition- as in traffic and other click-based data
  • Behavior – as in where users go, how much time and how frequently they use the site, and
  • Outcomes – what the department wants and expects the user to do.

From there, determine which period of time you find most relevant to measure. Month to month or week to week is often standard.

Finally, determine the context of your measurements by developing an average over an extended period of time. Compare your data’s percentage increase or decrease over that time period.

Once you establish your core analytic process and metrics, the key is to revisit it on a consistent basis. Just like going to the gym, the effectiveness of your tracking process depends on consistency. So, identify the baseline metrics and channels that most matter to you (and your key stakeholders), set up your tracking processes and timelines, and you can refine your processes over time from there.