Digital marketing data has a tendency to overwhelm us, limiting the intelligence we gain and filling our days with just too much noise. As we expand our email marketing strategies to include social marketing, our spreadsheets bloat with conversation metrics, engagement measures and viral counts. As always, the way to stay sane (and strategically use data to meet your forecasts) is to identify the most important metrics and focus there. I hereby give you license to ignore some data points, in order to make better business decisions.
For example, if your executives only care about total revenue, then tracking referrals per subscriber is only important if you can track total sales by forwarded messages. Of course, to optimize that revenue, you will want to segment by the most active social influencers on your file.
If your social marketing strategy is all about brand, then tracking the net new email subscribers could be a good measure of brand introduction/engagement. Looking at conversation by source will also tell you if your outreach is finding good, customers, active advocates or just neutral friends.
If you care most about using social media to solve customer problems, then you may find value in using social marketing to sign up subscribers to an email newsletter dedicated to troubleshooting or product utility stories from customers. The pass alongs of that newsletter may become part of a larger strategy to communicate your commitment. Opens and clicks on this newsletter become less important.
It is not a trivial challenge to marshal all the right data – not just all the data – along with the right technology to crunch and analyze it. That’s why I’m excited to be leading a panel at Digiday SOCIAL next week with some very impressive measurement experts, as we discuss this very topic. The panel includes:
I’ll be sure to do a wrap up blog after to share the insights from this great group of thought leaders. If you are in New York next Thursday and want to attend, I have a limited number of free passes. Just email me if interested – first come, first serve.