We all know how tracking is at the basis of any marketing strategy and how selecting the right KPIs is a crucial step in assessing consumer behavior and its variations.
This is even more true when companies immerse themselves in digital, a universe in which it is increasingly important to trace and make sense of the accumulated data.
Let’s now have a KPI definition to better guide us: Key Performance Indicators (KPIs) are indicators related to goals that you want to achieve, so they must be defined before the start of any operation and must be measurable. They need to be quantifiable since sometimes it is useful to create data combinations that allow a more accurate and profound analysis.
To dominate data with KPIs, do not be dominated!
Here are the major mistakes that make many brands by using obsolete monitoring, to say, a pre-digital monitoring era. We enter the merits of the matter.
It is often necessary to change a certain number of attributes after a certain period of time, a period that depends on the type of goals and / or the product type. In the current game, one must understand whether the starting strategy is actually the right one or if we need a careful review of our choices : we must evaluate the option to compromise and take net decisions on the changes to be made. Not taking into account during the performance of negative performance can lead to a further distortion of the analysis and a very erroneous assessment of the perception that customers have on the brand once they reach the end of the campaign.
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The numbers are up to a point
Another fake step is to stop the quantitative data analysis: we are all good at collecting information about information; the job really difficult is not to accumulate data but to interpret them. It is crucial importance to understand and provide a qualitative explanation of the information (precious if properly deciphered) obtained by the users. For example, it is useful to ask why people in a particular demographic range behave in diametrically opposite ways or even why a device converts more into one city and less into another.
An exclusively quantitative analysis cannot always give us answers, and if we are able to perform a qualitative analysis in addition to the numbers, we can anticipate trends (especially on social media), and we can attribute greater value to our customers’ feedback.
Social media offers a broad overview of consumers by making us understand what the future can have in store for our brand: you need to be able to hear and listen to users by implementing short surveys and trying to understand if your answer is addressed to the description of the Product characteristics or whether it tends to describe its (positive or negative) emotions in the experience of use.
By setting the right KPIs, we have the ability to understand the general tone of voice, analyze the context and anticipate the times, making changes that will lead to a decrease in frictions in the funnel, resulting in a return on investment (ROI).
We marketers like the data (in fact, even the colored charts!) But let’s not forget that we’ve been in for a while now in a new era of monitoring, which allows to direct every day more people to our brand, so we know more closely who follows us and make us better acquainted with who shares our brand’s mission.
A.H. Sagar is Operations Manager at CYONWO and author of Local Advertising Journal. A.H. has more than 6+ years of experience in digital marketing. His expertise helps him to be a professional blogger and he loves to share his ideas, tips, tricks and information with blogging.