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In a time when almost anything can be measured, there is no dearth of metrics for marketers. But how do we make sense of it all? And how can we measure its impact on the business? This cheat sheet puts together the metrics that matter across four key channels that are most employed by digital marketers today: web, email, ad media and social media. More crucially, it shows how to mine these metrics to extract measurable results for your business.
MARKETING METRICS THAT MATTER
STORY IN FIGURESA glance at surveys conducted on usage of metrics by business.
WEB SOCIAL
MEDIAPERFORMANCE
eDM
Audience
Who makes up your visitors
- Location- Language- Technology & mobile- Recency, frequency, and new vs. returning
Design and develop your site to cater to your target audience profiles.
Behavior
What drives loyalty and engagement
- Bounce rate - % of visitors that see only one page during a visit.
- Time they spend on page/site - for content-oriented sites, tells how interesting your material is.
Content
Content performanceContent that generates the most visits and conversions.
In-page analyticsUsually represented as "heat maps" or "bubbles". Shows you whether your site layout is optimal, where visitors focus on and what they click (whether calls-to-action are motivating or visible enough).
Social Ads - Facebook & LinkedIn
Click-through rate (CTR), Cost-per-click (CPC), Cost per Impression (CPM)
Measure of how your ad performs. CPC is a better metric for action-oriented (e.g., download/sign-up/buy) while CPM is more useful for awareness-oriented campaigns.
Engagement
Forwards tell how many have used the "send to friend" functionality (if available and enabled).
Unsubscribes tell how many have unsubscribed. High rate indicates you may be sending irrelevant and/or unsolicited messages.
Buzz / Share of Voice
Basic
More useful
Sentiment Analysis (% positive, % negative, % neutral)
Relates to Brand Awareness and Reputation
Engagement
Basic
More usefulConversation
Measure of content effectiveness
Thought Leadership: # of best answers in LinkedIn
Customer Service
Applause rate
Social Reach
# of followers across all socialplatforms (Fans, Friends, Followers, etc.)
Measure of marketing program effectiveness.
Conversion
Use tracking links (usually seen as "utm_source" in the URL), generatedby tools like Google to see how many email recipients performed thedesired action (e.g., downloaded white paper, or filled form).
Tells whether your landing pages reflect email campaign promises.
Depth of VisitPercent of email campaign visits that last longer than xx pages.Important when email is meant to drive deeper site engagement.
Conversion
Lead GenerationFor e.g., click-throughs from social posts to form fill-up, newsletter opt-ins
Social sales effectiveness
Revenue Metrics
Measure the aggregate impact oncompany revenue
# of New Names# of Prospects
Contribute to sales pipeline
# Marketing Qualified Leads Reflects the % of wins contributed by marketing
# Sales Accepted Leads
Value of revenue contributed by marketing
# Opportunities# Wins, Losses# Churn (sales renewals/retentions)
Sources
Avinash Kaushik - Analytics SuperguruActionable Social Analytics by Awareness IncCampaign MonitorDefinitive Guide to Marketing Metrics and Analytics by Marketo
Revenue PerformanceManagement
Revenue Engine Effectiveness
Associated metricsAverage selling priceSales cycle timeSales productivityWin ratesTime to ramp a new sales rep
Program Performance
Measure the incremental contributionof individual marketing programs.
Single attribution assigns all value to the first or last touched program (e.g., lead source/product demo).
Single attribution with revenue cycle projections estimates program's long term impact based on historical conversion metrics.
Multiple attribution recognizes contribution of multiple program touches to close a deal. Revenue allocated by time (immediate vs. months ago), by role key decision maker vs. influencers, by program type roundtable event vs. website visit.
Loyalty and Satisfaction
Net Performance Score is based on customer answers to the question, “how likely are you to refer us to friend or colleague?
Tools
Google Analytics, Omniture, Webtrends, etc.
Tools
Campaign Monitor, ExactTarget, MailChimp etc.
Tools
Radian6, MeltwaterBuzz, JamiQ, Brandtology, webfluenz etc.
Traffic Sources
Sources that bring in the most visits
Sources that generate the most conversions
CONVERSION
ROI
Goal Funnels
Track the series of pages visitor is expected to seeen route to a goal.
Multi-channel Funnel
Shows how site sources (marketing channels such as paid/organic search, site referrals, social networks, email newsletters) work together to create conversions, based on sequences of interactions called conversion paths.
Influence
Measures influence based on your ability to drive action. Influence score is counted when you create content or engage others. Measured based on:
True reach: how many people you influenceAmplification: how much you influence themNetwork impact: influence of your network
Essential Metrics
Open rates % of people who opened your email. Not accurate as many email clients don't download images by default.
Click-throughs tells how many times a link or multiple links were clicked.
Click-to-open Ratio tells of those who opened, how many took action.
Bounce ratesHard bounce (non-existent addresses) and soft bounce (temporary issues).
Delivery Rate
Subscriber Retention Rate or Growth Rate
Measures technical effectiveness, relevance and targeting of messages.
Search Ads
Matched SearchTells you what the user searched when your ad was served. Helps you optimize the keywords your bid for to drive better ad performance and lower bounce rate.
Keyword PositionHelps determine which keyword position gets you the most clicks.
Conversion
Set up Goals to determine how well your site meets specific objectives- URL Destination (e.g., from lead gen form page to thank you page). Works well with goal funnels.- Visit Duration- Pages per visit- Event (downloads, Flash/AJAX element interactions)
Segmentation is key to diving deep into specific areas to get insights that can drive meaningful action.
Amplification
total # of industry conversations
# of conversations mentioning your brand
total # of relevant mentions
# of brand mentions by influencers & vocal customers
# of total sales
# of sales coming from social channels
Total Marketing and Sales Investment
Total Revenue or Bookings
# of email campaign visits
# of email campaign visits with a single Page ViewSite Bounce Rate =
+1s per post
# of likes/favourites
week in Google+
# of hangouts
replies per post
# of comments
retweets per post
# of shares
total # of published posts or pieces of content
# of Likes, Shares, Retweets & blog comments
# subscribers
(# subscribers – bounce backs – unsubscribes)
# of emails sent
(# of emails sent - # of bounces)
GO
AdWords
How much of a business priority are the following information requirements?
Cost of acquiring a customer/lead
Impact of content on acquisition
Drop-off across key site processes
Lifetime value of customers
Benchmarking traffic
Customer journey over multiple visits
Performance versus competitors
Relationship between online/offline behavious
Customer behaviour on partner sites
High priority Medium priority Low priority
15%29%57%
17%34%49%
12%39%49%
20%35%45%
18%47%35%
20%46%34%
23%44%33%
30%45%26%
46%40%15%
How does your organisation measure online reputation and social media activity?
2010 2011
Paid-for reputationmonitoring tools
40%
35%
30%
25%
20%
15%
10% 9%12%
21% 22%
19%
12%
24%
33%
27%
21%
5%
0%Free tools / our
own customisedfeeds and
dashboards
Web analyticstool
A combinationof the above
We don’t measure
Do you integrate web analytics with data from other sources?
59%
41%Yes
No
Does your organisation have a framework for analysing customer journeys that cross online and offline?
Yes
No
Don’t know