“Data, data on the wall… Who's the fairest of them all?”
Ah, metrics. The enchanted mirror of modern marketing.
But instead of a jealous Queen peering in to see who’s more beautiful, it’s you, it’s business owners and Heads of Sales and Marketing trying to figure out if their marketing is, well… working. And in this day and age, it’s not magic spells or poison apples that win the day; it’s data. Delicious, quantifiable, sometimes overwhelming data.
So, let’s talk about how you can use your data to determine if your marketing efforts are the fairest of them all - or at least pulling their weight.
The Magic Mirror: Your Metrics
Let’s say you’ve got a marketing campaign running. You’re posting on social media, sending out emails, maybe even running a cheeky little Google ad. But how do you know if all that effort is actually paying off? This is where metrics come in.
Think of them as the magic mirror on your marketing wall. They don’t just tell you “Yes, your campaign is winning hearts (and wallets) everywhere” or “Nope, time to try something else, mate”. They show you exactly how things are going. You just need to know what to look for.
Vanity Metrics vs. Valuable Metrics
Now, not all metrics are created equal. Just because something looks impressive doesn’t mean it’s making a difference. These are what we call vanity metrics - the shiny numbers that make you feel good but don’t tell you much about the health of your business.
For example:
Likes and Follows on social media? Lovely for the ego, but they don’t pay the bills.
Website visitors? Great, but if they’re not converting into paying customers, it’s just digital window shopping.
On the other hand, valuable metrics - like conversions, customer acquisition cost (CAC), and return on investment (ROI) - these are the ones that reveal the true reflection of success.
So, instead of asking, "How many likes did that post get?" ask, "How many sales or leads did that post generate?" See the difference?
However, no one proposes on the first date, so depending on your business model and the stage of where your business or campaign is at, if brand awareness is your goal, not leads, then vanity metrics may just be the data you look at. Brand Awareness is the dating phase!
Data: Your Friendly Fairy Godmother
The beauty of data is that it tells you exactly where to wave your magic wand next. You don’t need to guess which marketing tactic is your Prince Charming (your data) will tell you. Here’s what you should be keeping an eye on:
Conversion Rate: This shows how many people took the action you wanted (e.g., made a purchase, signed up for a newsletter). It’s like the moment Cinderella’s slipper fits - it’s the perfect match.
Cost Per Acquisition (CPA): How much are you spending to get a customer? If it’s costing you more to win them over than you’re making from them, you’re in for a pumpkin ride back to square one.
Customer Lifetime Value (CLV): This metric tells you how much revenue a customer is likely to bring over the course of their relationship with your business. It’s like knowing the entire fairy tale, not just the ending.
Bounce Rate: Ever had someone walk into your store, glance around, and leave without buying anything? (or maybe you’ve done that). That’s your bounce rate. If it’s high, something’s off - maybe your website needs a refresh, or your product offering isn’t as irresistible as it could be.
Adjust Your Spellbook
The key to mastering data is treating it as a living, breathing thing. If your metrics show that your Google Ads are performing but your Facebook ads are falling flat, shift your budget accordingly. It’s like realizing the prince is actually into brunettes, not blondes. Adjust your approach to fit the data.
And don’t be afraid to experiment! Try new things, track the results, and see what works best for your business. In marketing, there’s no one-size-fits-all – like an enchanted ball gown, we know it’s never ‘one size fits all’.
Final Word: Mirror, Mirror...
In the end, marketing success is all about constantly checking in with that magic mirror - aka your data - and making informed decisions. With the right metrics guiding you, you’ll always know which marketing strategies are fairest of them all, and which need to be locked away in a tower for good.
So, polish that mirror, take a deep look into your data, and you’ll find your happily-ever-after (or at least, your best marketing plan yet).
Need help with reviewing your data and developing the right strategy? Contact Pickled Pear Media, we’ll review it with you, put your marketing plan into a jar and pickle it so it keeps for as long as you need it to.
