Marketing data scale

balance 2

Recently I have been talking to SME’s about their engagement with digital tools, and getting some pretty disturbing responses.

Many when asked will say they are engaged, because their phone is connected to google maps so they can find their way home at 3am. Not setting out to mislead me asking the question, it is just that they do not know what they do not know.

Several pieces of research around suggest  that around 40% of Australian SME’s do not have a website, and a large proportion of those who do are not using them as much beyond an electronic brochure. The “last updated” box is the giveaway, even if from the content it is obvious.

At the other end of the scale, there are a few  who have just so much  data and options at their disposal, and often so much conflicting advice coming in, that they are paralysed with indecision.

Somewhere along the line I recall a comment, probably by Avinash Kaushik  where he said something like  “given me an extra  hundred dollars to spend any way I like on data, and I would choose to spend $10 on the data, the other $90 on people who could understand and use it”.

Sorting the quality insights and ideas from the tsunami of stuff coming at us is the marketing challenge of the century. Automating it is only half the task, the GIGO effect takes over very quickly, you have to really understand it.

For the beginners at this stuff I advise just two measures:

  1. Bounce rate,
  2. Conversion rate.

All the other metrics that you can develop and that are now freely available can be hugely valuable, but knowing these two is a bit like knowing where the brakes and accelerator are in your car, essential for productive progress.

Quality of visitors beats quantity every time, and these two measures together give you that insight.

About strategyaudit

StrategyAudit is a boutique strategy and marketing consultancy concentrating on the challenges of the medium sized manufacturing businesses that make up the backbone of our economy. The particular focus is on their strategic and marketing development. as well as the business and operational efficiency improvements necessary for day to day commercial survival. We not only give advice, we go down "into the weeds" to ensure and enable implementation.
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One Response to Marketing data scale

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