A new blog post in my series of tips & tricks in marketing. A very important one – metrics. Data, analytics. If you don´t know something quantifiably then you don´t know it. And yes even brand can be quantified namely are you seeing more visitors or sales? But when it comes to spending your hard-earned money on things you need to measure. Data and analytics can seem scary but truly it isn´t.
Measurement is an important aspect of marketing, allowing businesses to track the effectiveness of their strategies and make informed decisions. By regularly measuring key metrics such as website traffic, conversion rates, lead generation, and customer engagement, businesses can identify areas of success and areas that need improvement.
Not everything can or should be measured in marketing. Some things like brand awareness and customer loyalty can be challenging to quantify and may require qualitative methods to assess their impact.
Ultimately, the goal is to measure what is relevant and meaningful to your marketing goals and objectives. Thank you ChatGPT for that definition.
Next point – the I don´t have time or I don´t understand it. No problems. Hire someone to help. However make sure that their goal is to help you grow or improve. If you are going to run a promotion to say increase site visitors then ensure there is a pre-promotion measurement and during the promotional period. Along with all kinds of sexy things like UTMs. Otherwise how do you know what worked?
Sometimes you discover things by trial and error. If you stand outside selling umbrellas each and every day you are bound to make better sales on the days it rains.
What measuring things can help you do is to discover which types of umbrellas sold better, and at what time of day, so that you can be better prepared for the next rainy day.