Mastering The Marketing Metrics

Mastering The Marketing Metrics

How does a marketing entity evaluate the performance of a campaign? How do the resident decision-makers determine the impact of a major product push? The preferred method in marketing circles is the use of metrics. And they work … some of the time.

Our quadrant of the universe abounds with metric data. You can’t turn a corner without seeing it float by. But utilizing metric data effectively isn’t exactly a piece of cake. Metric information is like hidden gold. You must get it and determine its worth before profiting. This reality has pushed metric data collection to the forefront of marketing priorities. Marketers must gather the info and know how to extract value from their take.

The down side is this — not all marketers and brands are equipped to gather data effectively. And even if their collection mechanisms are operating full bore, many of these entities lack sufficient knowledge to evaluate their take. What they’re often left with is a jigsaw puzzle of info that gets haphazardly assembled by uncertain teams. Somehow the pieces just don’t fit. Which leaves decision-makers heavily burdened with a distorted picture.

Understanding metric data

Getting the clearest possible picture requires multiple sources of data, thorough analysis, and finally accurate interpretations. Conventional analytical tools help to a certain extent. But their usage still requires the involvement of personnel struggling to assemble it into a cohesive form. Guesswork plays a big role in this game.

Dashboards offer a promising, game-changing alternative. Increasingly, developers are creating dashboards powered by resident tools that manage the entire process of metric analysis. Basically, this new generation of tools merges, unifies, and analyzes data in a single, self-contained location. The result is speedier processing, greater accuracy, and ultimately better- informed decisions.

Currently, marketers and brands can choose from a variety of dashboard solutions. Cyfe, for instance, combines information from multiple platforms and converts it into a quick and concise snapshot of important insights. Equal thoroughness is provided by many other dashboard developers. Naturally, which is best-suited for a brand depends on individual goals, preferences, and parameters. Something well worth exploring.

If you have any questions or comments about marketing metrics or about any other brand-related topic, feel free to send them our way.