Category: Metrics

What’s the Value of Anecdotal Evidence?

Nov 1, 2021

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Christopher S Penn

in Marketing, analytics, Marketing Data Science, Metrics, Research

In the world of data and analytics, anecdotal evidence is often (and correctly) demonized. Why? People in general and marketers in specific mistake anecdotal evidence for quantitative proof, for statistically representative, reliable, and repeatable evidence. Anecdotal evidence is none of those things. It’s one person’s experience, so it’s not representative. Depending on that individual’s perspective…
Basics of Social Media Marketing Analytics Tools

Oct 8, 2021

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by

Christopher S Penn

in analytics, Marketing, Marketing Data Science, Marketing Technology, Metrics, Social media, Social networks, Strategy

One of the most common questions asked in social media marketing is, “What’s the best tool for analyzing and reporting your social media marketing?” This is a sensible question; after all, if you can’t measure something, you can’t manage it. That’s business common sense 101. So, the next logical question is, what outcome are you…
You Ask, I Answer: Communicating Marketing Results to Non-Marketers?

Jul 13, 2020

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by

Christopher S Penn

in analytics, Marketing, Marketing Technology, Measurement, Metrics, Reporting

Allie asks, “Do you have any tips for sharing marketing results like social media and email marketing analytics to a non-tech-savvy staff?” Most staff in an organization aren’t going to be interested in marketing results unless they work in marketing. Instead, they’re going to want organizational results, so connecting the dots between marketing’s outcomes and…
You Ask, I Answer: Which Brand KPIs?

Dec 12, 2019

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Christopher S Penn

in Brand, analytics, Marketing, Marketing Technology, Measurement, Metrics

Jen asks, “What are some solid KPIs that you will be looking for next year?” Recall that our definition of a KPI is any metric for which you either get a bonus or fired. This poses a quandary for marketers responsible for brand, since brand tends to be one of the least well-measured metrics a…
You Ask, I Answer: Setting Social Media Goals for 2020?

Nov 15, 2019

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by

Christopher S Penn

in analytics, Data Science, Marketing, Metrics, Social media, Social networks, Statistics

Annica asks, “What sort of goals should we be setting for social media in 2020?” Depending on how you use social media – for marketing, sales, customer service, etc. – will govern what kind of goals you set. For marketing, the simplest goals are to forecast, by channel, what the likely traffic is going to…
Google Analytics: When Are New Vs. Returning Visitor Ratios Useful?

Nov 13, 2019

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by

Christopher S Penn

in analytics, Google Analytics, Google Data Studio, Marketing, Marketing Technology, Metrics, Social media, Strategy

One of the things I’ve criticized Google Analytics about in the past is the new vs. returning visitor ratio metric. This ratio tends to mislead marketers, especially marketers new to web analytics. In aggregate, the ratio tells us nothing useful. As far as marketing objectives go, we want more of both, don’t we? We want…
You Ask, I Answer: Best Performing Instagram Post Type?

Oct 29, 2019

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Christopher S Penn

in analytics, Instagram, Marketing, Metrics, Social media

Abi asks, “Question regarding multi-photo Instagram posts! Do they perform better than static posts?” Here’s the latest research from Trust Insights, which is about a month old. Caution: don’t choose a content type based on performance. Choose a content type based on what shows off your content best. Subscribe to the Trust Insights newsletter for…
You Ask, I Answer: Media Value of Reddit Posts?

Sep 20, 2019

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Christopher S Penn

in analytics, Marketing, Marketing Technology, Metrics, Social media, Social networks, Strategy

Clifton asks, “Does anyone know how to calculate the media value for a post on Reddit?” This question leads towards the metric that won’t die: ad value equivalency (or cost equivalence). AVE makes the assumption that if a post performs organically, then its performance should be benchmarked against what you would have paid for the…
The Evolution of the Data-Driven Company

Aug 8, 2019

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Christopher S Penn

in Awakening, Data, Data Science, Marketing, Marketing Technology, Metrics, Strategy

What does it mean to be a data-driven company? Companies generally aren’t created as data-driven, data-centric entities from the beginning; for most companies, it’s an evolution in their culture and strategy, a journey that can take years. To become data-driven, companies evolve through five stages: Data-resistant Data-curious Data-aware Data-savvy Data-driven Data-Resistant The mantra of the…
You Ask, I Answer: How Effective is Share of Voice?

Jun 7, 2019

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Christopher S Penn

in analytics, Machine Learning, Marketing, Marketing Technology, Metrics, Public Relations

Amanda asks, “How effective is share of voice as a measure? Is there a better way to measure PR?” Share of voice is one of my least favorite measures of media and attention for a few reasons: – It’s often denominator-blind, meaning that it rarely takes into account the whole of a space. – It’s…

Category: Metrics

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