Today’s marketing analytics are powerful. Marketers have access to all kinds of metrics, from page views and numbers of fans to more revealing statistics involving leads and sales. With the growing transparency in marketing data, it’s easy to get caught up in data that – more often than not – is not actually impacting your revenue. Marketers need to focus on the metrics that are better indications of sales and marketing success. via Pardot
I do have some concern about some of the metrics. For instance, I don’t see discussion of value per customer or customer retention. As we look to grow our email marketing – for example – we need to understand the attrition and retention rate of our list of subscribers. We see between 3% and 5% of our list changing every single week as people leave jobs or just change email addresses. That means that in order to continue growing our subscriber base, we have to actively promote and overcome that deficit. We also need to watch any dramatic changes in the retention rate… if quite a few subscribers opt out, we may need to rethink our email content strategy.
The lack of competitive metrics is alarming as well. We often see clients scramble when their stats drop – but sometimes seasonality impacts everyone and our clients are still increasing their market share. There are quite a few more metrics that matter (and marketing channels that matter)… but I guess this is a good start.
Carroll leveraged Personify's Small World Community to build an online community with powerful gamification, personalization and reporting to support engagement and measured results, and this has translated to a 30% increase in yield rate for the 2018 semester.