Twitter Chatter: Optimize Marketing with Metrics

By Lauren Carlson – CRM Market Analyst

In ye olde days of marketing (a few years ago), marketers had limited tools for tracking metrics. They could monitor simple things such as open and click rates for email campaigns, but they didn’t have much visibility beyond that. With modern technology and tools, such as marketing automation software, marketers have access to actionable marketing analytics that give them visibility into how marketing campaigns are performing and directly affection ROI. Lisa Cramer of LeadLife Solutions contributed a post to the Marketing Automation Software Guide site outlining the most important metrics to measure and how marketers can use that data to improve performance and better understand their impact on revenue.
In the past, organizations had a very limited view of the funnel: qualified opportunities to sales. However, this view omits important steps in the lead life-cycle. In order to send the most highly qualified leads to sales, marketing needs a complete view of the lead life-cycle, tracking lead origin and intent based on area or level of interest. Finally, they need to see what percentage of leads generated turned into closed deals so that they can measure the effectiveness of their efforts.
This seems like a lot of data to track, but new systems and processes make it possible. Let’s say, for example, that a marketer sends out an email campaign that links to a landing page. That landing page is linked to similar pages of interest. Here are some metrics that marketing should be tracking:
  • Clicks and opens (old school, but still important)
  • Most popular links, if there were multiple
  • How many clicks turned into conversions
  • What other pages did visitors navigate to?
  • Time spent on other pages.
The next step depends on your lead management process. Leads need to be scored based on behavior/demographic information so that you can determine if they are “sales ready” or not. Let’s say that your system scores leads automatically. With this next set of metrics, you can gain insight into how well-targeted your email campaign was overall, as well as drill down into individual aspects such as engagement, timing, content, etc.
  • How many leads were considered “sales ready”?
  • How many leads never converted?
  • How many leads were passed to sales and over what period of time?
  • How many “sales ready” leads moved on to become opportunities?
  • How many opportunities became closed deals and what revenue came from each?
  • What was the total amount of revenue attributed to the campaign?
Tracking these metrics helps marketing understand how well they are performing. Why is this important? Because more and more, companies are realizing marketing’s impact on the company’s bottom line. With access to these new systems and metrics, marketing can better track their performance, improve their method and help drive company growth.
You can read the article in full on the Marketing Automation Software Guide blog.

Web Analytics Education: Date Range Selection

We created a series to teach you about the best free tool (and in my opinion the best tool, period) for web analytics: Google Analytics.

We opened the series with a short intro to Dimensions and Metrics, today we are showing you how to change the date, select days, weeks, or entire months. How to create a comparison between two ranges and the often unseen graphical date selector. Read More about Web Analytics Education: Date Range Selection

Web Analytics Education: Dimensions and Metrics

Web Intelligence is all about using web analytics to measure your presence on the web.

We are creating a series to teach you about the best free tool (and in my opinion the best tool, period) for web analytics: Google Analytics.

The series will be presented in small bite sized episodes, available in a presentation and video format, that you should be able to enjoy without needing any anti-acid medication.

Today’s episode is about Dimensions and Metrics. We aren’t talking about the metric system or about the third dimension. In this one minute presentation (5 slides total) we are defining those for you. Read More about Web Analytics Education: Dimensions and Metrics

Web Intelligence Details: Your Key Performance Indicator (KPI)

If you’re new to web intelligence and struggling to gather data, how do you know if your efforts are really paying off? Well, there are these wonderful things called “benchmarks” and KPI, and this is where they come into play.

What is a KPI?

Not to be confused with SEO’s KEI (Keyword Effective Index), KPI stands for Key Performance Indicator. As Avinash Kaushik would say, KPIs are measures that help you understand how you are performing against your objectives. They can help you define and evaluate whether you’re making adequate, successful progress towards your long-term goals.

    KPI's as explained by Avinash KaushikA good KPI used to measure performance should meet the following criteria:

  1. Uncomplex
  2. Relevant
  3. Timely
  4. Instantly useful

Read More about Web Intelligence Details: Your Key Performance Indicator (KPI)