Pub355 Measuring Goals
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The document discusses defining and measuring key performance indicators (KPIs) for marketing goals. It recommends starting by defining marketing goals and identifying measurable actions that lead to those goals. The goal plus measurable action equals the KPI. Examples are provided for different companies and their primary goals of getting traffic, selling products, or gaining contest entries. Secondary goals include building reputation, engagement, or content generation. KPIs suggested for measuring these goals include web analytics, social media mentions and followers, contest entries, and social media engagement. Properly defining KPIs based on goals and actions allows effective measurement and evaluation of marketing strategies.
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Pub355 Measuring Goals
- 1. [email protected] You should follow me on twitter @boxcarmarketing Measuring Goals PUB 355: November 19, 2010 by Monique Trottier
- 2. [email protected] twitter: @boxcarmarketing • Measuring goals should be at the core of your marketing strategy. • Tracking, analyzing and responding to the numbers is key to successful online marketing. • Don’t just record your web stats but analyze them and respond according to what they tell you. It’s about action.
- 3. [email protected] twitter: @boxcarmarketing • Start by defining your key performance indicators (KPIs) • Look at your marketing goals, what is measurable? • Goals can include selling a product, creating awareness, attracting new customers. What actions lead to these goals? • For example, if your goal is to sell your product, the action that leads to this goal is visiting all of the webpages in your checkout process. How many people land on your final thank-you page is measurable and tells you that they’ve completed a sale. • Goal + Measurable Action = KPI
- 4. [email protected] twitter: @boxcarmarketing Goal + Measureable Action= KPI
- 5. [email protected] twitter: @boxcarmarketing • One of BookShelf’s primary goals is to get traffic to the site. • This can be measure using Google Analytics and tracking the # of unique visitors and new and repeat visitors to the site. Can also track the level of engagement by looking at time spent on the site, bounce rate and exit pages (which pages visitors are leaving from). • One of Bookshelf’s secondary goals is to build it’s reputation. • This can be measured by tracking mentions of Bookshelf with Google Alerts and Twitter keyword searches. • Can track Twitter followers and Facebook fans. • Can also track retweets with Hootsuite and Facebook engagement (likes, comments, # of fans) with Facebook Insights. Bookshelf
- 6. [email protected] twitter: @boxcarmarketing My Mini Club • My Mini Club’s primary goal is to sell cameras. • This can be tracked by how many people click on the buy buttons on the product tab in Facebook. • My Mini Club’s secondary goal is to engage a new audience. • This can measured by tracking Facebook fans, comments and likes using Facebook Insights.
- 7. [email protected] twitter: @boxcarmarketing • So Nice’s primary goal is to get entrants to the contest. • This can be tracked by simply contest contest entries. • So Nice’s secondary goal is to have people engage with the contest. • This can be measured by tracking the number of total votes we have for entries and also by tracking number of fans, comments and likes on Facebook using Facebook Insights. So Nice
- 8. [email protected] twitter: @boxcarmarketing Westjet • Primary goal is contest entries: similar to So Nice • Additionally Justalilhype wants to increase its readership so tracking KPIs similar to Bookshelf makes sense.
- 9. [email protected] twitter: @boxcarmarketing Scion • Scion’s primary goal is to sell tickets to their event. Measure ticket sales, rate of ticket sales. Number of mentions of the event prior to the date, after the date. • Secondary goals include content generation by fans. Measure the number of photos taken. Number of tweets.
- 10. [email protected] You should follow me on twitter @boxcarmarketing In-Class Test November 26, 2010