Today, it is highly debated whether the old rules of measurement still apply to modern marketing. But there is no doubt about the importance of the newly emerging metrics.
In this episode of the
Weekly Marketing Cast
, David Meerman Scott challenges the old ways of measuring marketing performance and introduces some new metrics. Hear his thoughts in the video below and read some of the top takeaways:
Challenge Old Metrics
For a long time, David notes, measurement of marketing efforts has been around sales leads. “That is how I was measured,” says David. But things have rapidly changed with the development of new technologies and especially with the growth of the Web. Are you taking notice of these emerging realities and incorporating them into your marketing reporting mix?
Focus on Exposure
Marketers should develop new metrics that track exposure to ideas. Interestingly enough, this comes even prior to the actual sales cycle. As David notes, a lot of the measurement happens higher up in the funnel. Where in search engines is your content appearing when people enter specific keywords? How can you get to the first listing? These are the types of questions that will help you focus on making your ideas and content more visible to the public.
What Should You Measure?
It is easy to get lost in different metrics that don’t help you improve your strategy but turn into a burden. Avoid making this mistake by focusing on a few key elements to track. As David points out, you can
measure how many people are reading your blog posts
. You can track your performance in search engines. You can see
how many people are following you on Twitter
. All these things demonstrate your reach and how it is growing (or decreasing). The bigger the exposure, the more triggers to the sales process you are creating.
What matters ultimately is whether you are generating new revenue. Is your company growing? But before you focus on these questions, Davis says, there are a lot of other things that need to happen.