From the course: Marketing Analytics Foundations
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Selecting the most relevant metrics for your organization
From the course: Marketing Analytics Foundations
Selecting the most relevant metrics for your organization
- Click through rates, open rates, reach, conversions, qualified leads, shares, reactions, visitors. Seems like there are endless metrics to measure. Marketers often struggle with identifying what to focus on. The good news is that we can set guidelines for what metrics are really important. The key is to use metrics that indicate whether you're really making progress on these big goals. These are the metrics that are KPIs, key performance indicators. For a key performance indicator to be effective, it must measure significant outcomes that matter to an organization. But there's more that makes a metric a KPI and not just another number. Here are five ways to tell if a metric is a potential KPI. First, it tracks performance, not status or activity. You want to track what your marketing is accomplishing, not just how popular your message is. For example, let's say you're running two ad campaigns for a new ice cream chain. One gets lots of likes and comments while the other gets more…
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