Digital Marketing Metrics, Analytics, and Attribution
Learn about the essential metrics and analytics in digital marketing, including data gathering, analytic algorithms, and attribution models. Discover how software aids marketers in making data-driven decisions for improved performance.
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Presentation Transcript
The Absolute Essentials of Digital Marketing The Absolute Essentials of Digital Marketing CHAPTER 9 CHAPTER 9 METRICS AND ANALYTICS
THE BASICS THE BASICS Metrics: units, margin. demographics associated with website visitors. standards sales Online of measurement net profit marketing margin such as sales gross revenue, and take metrics in Because the business is performing, they are often referred to as indicators with referred to as key performance indicators (KPIs). theses metrics serve to indicate how well the most important being Analytics: used in the future and so are used to create models which can help understand, customer behaviour. For this also referred to as modelling or forecasting. seek patterns in the data that can be monitor reason, and analytics predict is
THE BASICS THE BASICS element Attribution: attributed with achieving the required outcome, e.g. a sale and when first used became known as last click attribution. which of marketing is in online marketing Equally which element might have caused the potential buyer to reject the product. important to the marketer is identifying Alternatives to the final link in the chain getting 100 per cent of the credit include: Reversing the model and awarding all of the credit to the first click. Time decay where the last link takes the most credit and each other link takes less. Position based where the first and last links take equally high credit with remainder. other links sharing the Linear where every link takes equal credit.
THE BASICS THE BASICS Data gathering three sources: 1. First-party data is that which is gathered by the organization for the organization and as such is the most authoritative and important. 2. Second-party data is where organizations use the first-party data of another organization. 3. Third-party for whom the practice is a business. data is aggregated by organizations
THE BASICS THE BASICS Analytic algorithms required: skills analytics hard is not Three all equations, key skills and maths. 1. Information collect and tables (dashboards). 2. Data analytics/science: to work with the data and turn it into information. 3. Marketing: to take the information and evaluate it in terms of business and marketing. technology/computer present the science: charts, to and data as graphs These can be three separate people or teams or one person who does all three.
THE BASICS THE BASICS Software has come to the aid of marketers who lack IT skills. Science marketers in easy-to-read information (see example in next slide). helps present dashboards data to of Note that despite the term analytics being used in describing the dashboard itself has not be analysed, it has been sorted investigating the why the numbers are what they are is analysis. software, the data
A basic Google Dashboard A basic Google Dashboard
WHAT IS BEING MEASURED? WHAT IS BEING MEASURED? Website metrics and resultant analytics include: Visitor numbers. Number of visits by individuals. How deep into the site visitors go. How long visitors stay on the site. Conversion rate.
WHAT IS BEING MEASURED? WHAT IS BEING MEASURED? Advertising metrics include: How many people clicked through from the ad. Where they were. What page they were on when the ad was displayed. Tracking the user through rejection. to a purchase or
WHAT IS BEING MEASURED? WHAT IS BEING MEASURED? Generic email metrics include: Delivery rate. Open rate. Clickthrough rate. Viral rate Campaign comparison. The churn rate.
LIMITATIONS OF ONLINE DATA LIMITATIONS OF ONLINE DATA Some doubt that data is the answer to all digital marketing problems, issues include: The right data? Organizations collect data that offers no value to the customer in return for data. Data collected is historical. It tells how people acted, not how they will act. them agreeing to give How much of the Internet is fake? In chapter 6 the describing how phoney order to cheat advertisers so how many page visits are made by real people and how many by software- generated robots of some kind? issue of ad fraud were was conceived raised web users in
LIMITATIONS OF ONLINE DATA LIMITATIONS OF ONLINE DATA Problems with metrics - issues include: Statistics accepted as being an accurate representations of the number of people that listen, watch and read their products online metrics software. from radio, TV and print media are represent devices or Analytics tools are prevented by ad blockers. Many website visitors are not humans, but bots. As tower to another it appears to the metrics as being another user. smartphone users pass from one transmission Social platforms have of fraudulent non-existent accounts and followers.
