Only 11 percent of marketers’ decisions are made based on data.
In my experience working with businesses I continually encounter companies who have paid for marketing without previously establishing goals or metrics to track. Doing marketing without defined marketing metrics is like walking blindly down a dark hallway. You don’t know where you are going or how far you have come.
What Are KPI Metrics
A KPI or Key Performance Indicator, is a quantifiable measurement that reflects the success of a campaign and measures the progress toward marketing goals. A key performance indicator gives everyone involved a clear picture of what is important. Once goals have been defined for the campaign there needs to be a way to measure the progress towards these goals. It is critical that the key performance indicators reflect the campaign goals and are measurable.
How to use KPIs to make data driven decisions
Key Performance Indicators are key to the success of any marketing strategy. These metrics should be defined in the early development stages of the marketing campaign. As you continue to monitor the KPI metrics throughout the duration of the campaign it is key to the success of the campaign to make adjustments along the way.
Ex. A local restaurant notices that they are getting a lot of shares and likes on their social network channels but their sales are not increasing. This would indicate that there should be an evaluation of the calls to action to get more people to come into the restaurant.
The Notch Approach
Notch Marketing provides an all-in-one dashboard which pulls together all the metrics your business should care about to find success. Rather than having to use multiple platforms or dashboards you are able to see everything all your KPI metrics in one place. Using this information will help your business stay on track with your goals and will increase your return on investment.