In the digital marketing age, not only are measurable metrics and other analytical data are possible and available in real-time, the need to measure these data is paramount as evidence to success. In a constantly and rapidly changing business landscape, the need to measure digital marketing success as efficiently as possible has increased in importance more than ever before. Every digital marketing tool available has some means of measuring success made available through the various metrics business owners can obtain.
However, with the tons of data available and easily accessible, choosing the right type of metric to monitor can be daunting for marketers. There is the possibility of choosing and monitoring metrics that really pose no significance for what matters most in business – earning revenues. Marketers might be too engrossed in focusing on “vanity” metrics and lose time analyzing on metrics that would really matter for their business.
“Vanity” metrics, such as the number of Facebook “likes” or YouTube “views”, are metrics that are merely “nice-to-have” – unless these figures can be effectively monetize and translated into revenues. Metrics that really do not have an impact to the bottom line will just be a waste of time and resources. Business owners should learn how to identify which metrics can be influential for business growth and revenue generation.
Originally posted 2015-10-22 11:00:59.