Is Digital Activities Measurement important for Business Growth?
Not long ago, Digital Marketing meant having a website. Now, it means having a strong presence in Digital Media (paid, owned, earned, and shared), search (organic & PPC), social media, and mobile. And through Analytics, digital marketers are able to understand consumer behavior and customer experience.
Analytics sounds complicated but it’s not. Let’s demystify digital analytics with four key strategic questions. Companies should answer these business questions before they establish their measurement plan:
1. Why does your brand’s website exist?
To establish a measurement plan and ROI, you need to begin with the business reasons why you created a digital presence. These reasons have to connect in some way to revenue (eg. Sell products, capture e-email address, build a database, download relevant content). If you don’t provide why your brand is on the internet, your digital marketing is an expense; one where you will be wondering how to recoup your investment.
2. Why do you want to attract?
For every business, there is a wide disparity between the best and worst customers. In digital marketing, as in life, there are people worth spending time with and people not worth wasting your time on. If you don’t know who is who, you are likely to waste a lot of unnecessary time, money, and resources. This is also known as the marketing discipline of segmentation.
3. How do they find you?
People find your website in a variety of ways: search, a referral from another website, through social networks, or they may simply come directly. Measurements of the channels through which people reach you are very much available. Find out how consumers come to your brand, and examine how it aligns with the way you are spending your time, money, and resources. See if you are attracting whom you want.
4. What action do you want them to take?
Once consumers find your brand, what do you want them to do? It is very important to be clear about this. The actions you want consumers to take should relate to the reason why your business is on the internet, and whom you are attracting, and how you can reach the most qualified targets.
These four questions (why, who, how, and what) give perspective and context direction on how you expect to generate revenue and what are the criteria for selecting the measurements that matter most for your business growth.
If you are not sure how to measure. Connect with me.