3 Great Blogs about Marketing Performance Analytics
We now know that it’s no longer enough to just show the results of standalone marketing activities, it has become a requirement to show the effect on marketing on the overall business goals. Here are 3 great sources for you to learn more about Marketing Performance Analytics (MPA).
1. 5 Ways to Analyze Your Social Media Marketing Performance
Source: Social Media Examiner
This blog gives you great tips on which metrics to focus on when you want to analyse your social media marketing efforts. They mention that auditing key social media metrics can reveal which aspects of your social media marketing are working. By identifying which area are working best you can gain valuable insight into you can improve upon.
1. Examine Follower Growth to Identify Anomalies in Audience Behaviour
2. Look at Impressions to Spot Irregularities in Reach
3. Monitor Engagement to Find Peaks and Valleys in Interactions
4. Review Clicks and Traffic to Reveal Inconsistencies With Website Experience
5. View Mentions and Sentiments to Assess Overall Brand Reputation
2. What is Marketing Performance Management?
“Marketing performance management is the organizational capacity for improving the ROI and effectiveness of marketing.” This takes into account the planning process, performance measurement, and establishment of predictive analytics. Below are the steps laid out for you to get the most from your marketing performance management.
• STEP 1: Aligning To Revenue
• STEP 3: Gain Accountability To Revenue
• STEP 3: Develop Analytics & Forecasting Capabilities
By following the three steps below marketing leaders can establish a strong cycle of measurement, planning, and execution that results in revenue growth and impact across the organization.
3. MARKETING PERFORMANCE MEASUREMENT (MPM)
Source: Media Buzz
“Marketing performance measurement (MPM) is a term used by marketing professionals to describe the analysis and improvement of the efficiency and effectiveness of marketing.” This is only possible when marketing activities, strategies, and metrics with business goals are aligned.
The easiest way to do this is to form a framework of metrics and them monitor and manage marketing performance through marketing dashboards.
Media Buzz suggests that the best performing marketing dashboards are separated into management levels based on the functions they are most relevant for. MADTRIX follows a very similar path to this, click here to find out more.
|Executive level||Strategic level||Monitors and measures performance against business outcomes and marketing objectives|
|Operational level||Marketing management||Tracks performance of core marketing strategies and processes|
|Tactical level||Functions and individuals||Analyzes performance at project or activity level as they relate to the first two|
Media Buzz suggests that an ideal dashboard should show the progress of marketing, help assess productive areas, and help in the decision making, and in addition also provide an indication of the value of marketing.
Here’s a link to the MADTRIX Demo page, check it out for yourself – CLICK HERE
Author: Amelia Dash
A bit about me. I’m the Marketing Technologist at MADTRIIX. My background is in digital marketing and I’ve continued my passion by embarking my PhD thesis on online consumer psychology. Working in Australia, China and now Finland I’ve acquired a pool of knowledge about digital marketing.
If you want to speak directly to me, you can find me on LinkedIn