We live in a world driven by statistics and data. This new age we’re living in has made up-to-date metrics essential in companies deciding what’s their next step. No longer do they need to rely on gut-instinct or intuition.
They have metrics do the job for them.
Modern technology has granted access to ubiquitous metrics that ultimately eliminate guessing over seemingly every aspect, in seemingly every industry. A retail giant can find which products sell and which don’t. A local government can judge the success of its funding efforts.
A digital marketing agency can base its entire philosophy on data. And for good reason. An agency’s job, after all, is to research, strategize, execute, and finally to report.
Notice what that proven plan is bookended by: Data-driven influencers. A marketer can’t begin to strategize and execute without first doing their research, nor can they report on their findings without heavily relying on data.
An agency without first doing its research would be the blind leading the blind. An agency then not reporting on their findings without utilizing data is misleading. It should be no surprise then that determining the successes and failings of a brand are contingent on what the metrics say.
Since statistics don’t lie, and never will, deciphering metrics for use in future campaign efforts is something every marketing agency should practice.
For example: Finding the right audience. According to Forbes…
“Whereas collecting and integrating large and disparate data sets to glean useful insights has been costly and time- and resource-prohibitive, technology has progressed such that the insights are ‘in the box’, can be tailored to the brand and business goal, inexpensive, and at your fingertips.”
These same technologies can be used to identify the best audience for a given campaign. Perform initial research into the brand by locating their audiences and then targeting them. You dilute your message less by sending it out to the broad masses. Instead, narrow the targeting to an audience that would be more receptive and inquisitive of the message for a more accurate perception.
Locating your audience is one of the most challenge parts of your campaign efforts because there seems to be a lot of guesswork involved. Technology, however, is catching up, as indicated by the same Forbes’ article:
“Front-end technology is catching up with the back-end such that ‘programmatic’ applies not just to the media buy, but also to the identification and creation of an audience.”
Targeting people who make $75,000 in the Northwest is good. But targeting people who make $75,000 per year, interested in mountain climbing, drive a Tesla, and likes Netflix and National Geographic is better. Your targeting yield might drop from 5 million to 1 million, but again you don’t want to dilute your message and waste it on those who it doesn’t speak to.
This way you can design campaigns around a 100% audience you know will listen.
This is all possible to identify through targeting. Facebook, in particular, allows marketers to target their campaigns through variables such as as income, location, interests, and behaviors.
Consider these before you run a campaign. That way you have a greater understanding of your target’s “actions, habits and propensities; their associations, networks and influencers; and the descriptive characteristics that influence and distinguish the group.”
That’s just one flap of the book, though. We can’t neglect the other side where we report on the campaign’s progress.
This is where metrics really start to shine, and where it showcases just how evolved this industry is. On the outside, metrics look to only be on the surface; likes, comments, replies, shares, retweets, etc. But indicating successes and failures goes far deeper, especially depending on the campaign’s purpose.
This isn’t to say those types of surface stats can be suitable indicators. They absolutely can predict which types of posts work well and which don’t. If one type of post is getting 100 likes on average, while another is getting only 25 on average, then it’s clear that one post obviously resonates and engages more with users.
But it’s the below-the-surface stats you really need to pay attention to; those available through deep insights and the tools needed to access them.
Surface stats won’t explicitly inform you of how many link clicks a post received. We actually saw this in practice with one of our premier clients. Although we were receiving tons of likes, comments, and shares, we noticed that we were basically garnering little-to-no link clicks on these same posts.
It wasn’t until we began to A/B test where we found the issue, and altered the posts. Only then were we able to boost our link clicks, albeit at the sacrifice of our engagement totals. Nevertheless, it was interesting to learn for future reference, such as running an awareness campaign vs. an engagement one.
But we can plunge even further into the sloping depths of digital metrics.
Metrics like bounce rates can indicate where users go after landing on your website. When you uncover and unleash the power of metrics, you can find out everything you need about the tendencies of people to improve your marketing approach.
As digital marketing grows, measurement platforms follow. With so many brands going digital, it only makes sense for ambitious entrepreneurs to take advantage by creating platforms that can measure and track metrics on their performance.
And since we live in a flourishing capitalist society, competition occurs that motivates these innovators to measure more metrics than the other. So when one platform can track how many seconds you spent on a specific website page, another platform sees that and creates a tool that does the same AND which page they’re going to after.
The insights just go deeper until marketers get the best available POV from their target audience. Remember that the greatest motivator to all of this is to nail down an audience’s behaviors and tendencies. That way a marketer can predict exactly what they do and how they make the transition from curious shopper to conversion.
This is the basis of what marketing was built on: Appealing to consumers within their sensibilities.
It was a lot more difficult to achieve that in the ancient time before measuring platforms came along. Marketers actually had to talk to people, hold focus groups, and stage surveys. Now they can pay a fee to have a website track what goes through the mind of their collective audience.
We wouldn’t want it any other way. Neither would you.
In case you haven’t noticed, yet, One Twelfth is a data-driven marketing agency. Get in touch with us if your brand is in serious need of optimizing.