Measure What Matters Most in Google
Last January Google posted a new guide with guide lines to allow marketers to improve outcomes by focusing on the critical moments of a customer’s journey. The guide documents the numerous touch points of a customer’s journey, detailing how each one can be an opportunity for marketers.
To explain this, Google broke this guide into four parts.
Focus on the right metrics
Firstly, Before marketers can get started they must first identify the metrics. The majority of marketers tend to work on creating brand awareness, generating leads or pursuing in store sales. However when it comes to measuring the success of these campaigns to rely on things such as proxy key performance indicators (KPIs).
Value your best customers
In addition to consider what to measure, it is also important to measure who should be measured. Whilst it may be good to increase website visits, it doesn’t do much good if these customers cost more money than they bring in and don’t return. Whilst it may be tempting to bring in customers by purchasing cheap placements and keywords for ads and promotions, this usually only leads to short term success. When putting together a strategy, it may be good for marketers to ask them selves the following questions:
- Firstly, How much do I really know about my customers?
- Have I defined the “customer” clearly?
- How do I acquire more customers who resemble my best existing customers?
- Do my advertising investments align with my strategy to reach and win the “whales”?
Attribute value across the journey
This section talks about the journey a customer makes to its purchase.
Prove marketing impact
After marketers plan and execute their strategies it is important to demonstrate the marketing impact. It is important to switch from correlative measurement to causal measurement. To show causation, you have to experiment. Well-designed experiments are controlled and statistically robust, with a clear test group that sees the content you’re investigating and a control group that doesn’t.
A big advantage of this type of experimentation is that it can evaluate marketing impact across all devices. It also can solve one of the attribution challenges we described above: estimating the potential performance of a new and untried marketing channel.
More information can be found on this guide from Google.
If you need any help with increasing your digital activities or more tips on how to make more opportunities for your business, then please get in contact with us here at Network Intellect.
Telephone: +44 (0) 844 543 0980