Drucker died before the explosion of soclail media

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Reference no: EM132291727

It was the markmeting consultant, Peter Drucker, who said, "If you can't or don't measure it, How are you going to manage it."

Drucker died before the explosion of Soclail Media and the supporting technology that helps us measure. But, we are also dealing with human decision makers. the managers and supevisors (being human) don't always make the best decisons especially when it comes to what gets measured and how.

Our job as marketers is to decide the difference between what we need to meaasure and what would be nice to measure. The tools of the Big Date world collects and stores enormous stores of data but only about 30% gets analyized to determine if it is useful. With this limitation there is another problem and that is the manager who decides what gets measured and he or she picks what I refer to a vanity analytics. This are data that make the manager look good and any times do npot have any use for marketers. Vanity matrics are numbers or stats that look good on paper, but don’t really mean anything important.

If you get caught up in a dead end tracking things that don’t really matter you’ll look back after a few years and see how much energy you wasted maximizing stats that don’t matter. Usually the manager who makes this decision is long gone by then.

As marketers we need Actionable metricsor datas that tie to specific and repeatable tasks that you can actually improve and to the goals of your business. If a metric isn’t actionable and you can’t do anything to make it better then you should ask the queation,

"why are you tracking it?"

Just like Radio and the television, and every other new means of communication, social media has seen its doubters and detractors who spoil the party with “…sure, but show me the money” days. The old traditional marketing media like direct mail, catalogs, print ads, telemarketing, etc, had to prove themselves by the analytic, ROI. In the early days of social media ROI may have been the most-hated acronym , but today it’s just another way to prove the effectiveness of humanizing your business - the same thing traditional direct marketers had to do, only it was harder for them.

As a marketer, you require the numbers that tell you what you’re doing right and what you’re doing wrong. Today, marketeres aremore fortunate. There are many options to see these numbers that measure how you are doing and can you keep the businesses growing.

Google Analytics has recently made it much more easy to start measuring your social media efforts. Google has launched the beta version of their latest dashboard which automatically includes social analytics. This is a process that began when they opened up Social Plug-In Analytics in June, and thay added functions to made it even easier by working with WordPress plugin developers like AddThis, ShareThis and AddToAny which meant that you had even less work to do.

So, what to track? to start try traffic, followers, subscribers, reviews, social media shares than as you business matures and revenue must take top billing then switch to # of sales, revenue, conversion rate, time on site, customer satifaction and later to mature stats such as profit, retention length, churn rate, revenue per customer, costs of good sold, impact.

What do you think?

Reference no: EM132291727

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