The importance of measuring marketing is something that hardly needs to be reiterated. It is naturally essential to know how much money is spent on marketing and what is achieved with that money. In addition, it is interesting to see how prospects or customers behave and how to adjust marketing actions based on their behavior.
However, there is a limit to how much measurement is necessary. You wouldn’t want to leave important things unmeasured, but measuring things irrelevant to the business is unnecessary.
What is a sufficient scope of measurement?
There is no definitive rule on how much or what should be measured. In principle, important metrics are always case-specific, but in practice, there are a few fairly reliable metrics that are always useful in some way.
For example, regarding website analytics, fairly reliable choices include page views, bounce rate, time spent on the site, and events. On advertising platforms, the most reliable choices are likely clicks, ad impressions, conversions, and budget.
These aforementioned metrics are usually the ones most closely monitored, but they are not the only things that can be tracked. Depending on the platform, these specific metrics may not even be available. Furthermore, the metrics used are influenced by what exactly is being measured and how.
It’s hard to influence what is measured
Since websites, apps, and advertising platforms are generally measured using pre-existing measurement tools, there are very few ways to influence what is specifically measured. Almost all such tools measure everything they can.
When you add a tracking code to your website, you have to accept that everything visitors do will be recorded by that platform. In addition to the previously mentioned metrics, there are a host of other measurements that are recorded, whether you want them or not. Most of these metrics are probably unnecessary for you right now, but some may become necessary later. It’s beneficial, then, that they are already being measured.
Measuring “unnecessary” things can sometimes be beneficial for a marketer. However, it’s impossible to predict whether a certain metric will become necessary later. As mentioned, what is unnecessary and what isn’t is always case-specific.
Limiting the pages where tracking codes are placed can restrict the scope of measurement, but it does not affect the number of metrics. In some cases, it may be justified to leave some pages entirely unmeasured, but such situations are quite rare.
From the user’s perspective, it is crucial to keep your feet on the ground. Even if it’s possible to measure everything, is it necessary and right? Visitors are usually given very few choices about how they are tracked and what is recorded about their activities. Typically, it’s a matter of either allowing tracking or not.
Focus on meaningful metrics
Instead of trying to limit the metrics used, focus on essential metrics. Customized reports and dashboards are the best way to achieve this.
Many analytics platforms offer the possibility to create customized reports. These can generally include almost any data collected by the platform. However, different metrics and dimensions must be compatible with each other.
An even better, though more labor-intensive, solution is to create a fully customized dashboard using a tool like Looker Studio or Tableau. This way, unnecessary information can be completely excluded from advertising reports, but everything can be included later if needed.
The most challenging part of a customized dashboard is choosing the right metrics. While these can be updated later, a detailed measurement plan can efficiently avoid extra work.
Also, remember to regularly check whether all tracking codes need to remain active continuously. It is not beneficial for anyone to leave outdated tracking codes on the site just in case. A tag management system can be really helpful in this regard as well.
Also read:
B2B Marketing Measurement – Creating a Meaningful Measurement System
How to Begin Measuring Your Marketing Efforts
Digital marketing data analytics – tools and tips