To begin
with, we should know what measurement plan is and how it can used to grow up
our business in market place. Measurement plan is considered as a starting
point of identifying your key business elements that matches your business
objectives in organization. Therefore, establishing goals and measures at the
start of the project ensures quantifiable ways to evaluate the success of a
marketing project., this in turn, will lead to establish company’s positioning brand
within the market context and sketch out a roadmap in order for you to achieve
your end goals.
On the other
hand, one of the biggest challenges of web analytics is the process and mechanism
about how to collect data, interpret data and to establish actions from
analysis to be adopted in creating measurement plan. In the same time If the
collection of these data is not planned properly and addressed in right way,
there will not be a proper base for data-driven decision making. As Abraham Lincoln said: "If I had eight
hours to chop down a tree, I'd spend six hours sharpening my axe”.
Define
Your Measurement Plan
Get the right people
together and decide what to measure. This will be different for each
organization. And you need to start with a plan that matches your business
objectives.
There are 5 steps to
defining the measurement plan
1- Document your business objectives: Why do we as a business, exist? So look at your business, what service or products do you provide and why.
2- Identify the strategies and tactics to support the objectives. Each business will have their own set of strategies but they will be closely related to five common types:
- E commerce: selling products or services
- Lead generation: collecting potential leads
- Content Publishers: Encouraging engagement and frequent visitation
- Online Information or support: help users find what they need
- Branding: driving awareness, engagement and loyalty
These are measurements of
your strategies and tactics and these are the numbers that you will review
daily to understand your business performance. Examples might be revenue
generation, average order value or how many times an in-store coupon is printed
or an online coupon is used. To measure your user engagement, you might
review recency and frequency metrics or the sharing of the content on your
blog.
4- Decide how you’ll need to
segment your data
- We might want to segment our data by marketing channel such as search, display, email and social. This is so we can measure our effectiveness through the particular channel.
- We might segment our customer by type. Say new or repeat customers and what channels may be driving loyalty.
- We might be concerned at geography of site visitors to see if some locations are performing better than others.
- The segments you choose can be the same or different across your website objectives. It just depends on what your business is doing and which strategies are being used to reach those business objectives
5- Choose what your
targets will be for your KPIs.
Finally, you will want to
add some context to your KPIs and what you are measuring in order to better
understand performance. Your business leadership should provide targets for
each of your KPIs. This allows you to look at the data and understand how well
or poorly your business is doing.
