iMedia Connection – 4 ways to make metrics actionable
By: iMedia Connection
Does the following sound familiar?
Let’s examine our KPIs. What’s the ROI? What channels are driving the most profitable revenue? Why are my website conversions down this week when they were up last week?
Online brands view metrics with paramount importance, yet, for most of them, making those metrics that really matter actionable remains a big work in progress.
Baynote recently teamed up with the e-tailing group to survey a cross-section of major online retailers and identify the key metrics they believe will drive the industry forward. To help guide online marketers on their quest to make meaningful metrics more actionable and less elusive, I offer the following simple steps:
In order to make metrics an imperative within your organization, you must seek buy-in from every level — from C-level executive all the way down to the recent college grad who was just hired. Communicate your goals clearly and have an open dialogue about why metrics are important. Improved communication will provide employees with the context for why metrics are important and help them prioritize the metrics that matter most to the business. This dialogue will also establish a common glossary of measurement terms that can be used throughout the organization so that departments can work directly with each other, rather than having a proxy translate each department-specific language and improve overall collaboration.
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