Everyone has been trying to find new ways to track metrics and monitor data. After all, the more you use your data, the easier it will be to make decisions, grow and build a brand. While it’s possible to measure just about anything these days, there’s so much data that it can seem daunting.
You may not have experience in IT or data analysis and, as a result, may feel confused when making metrics-related decisions instead of trusting your instincts.
One thing is clear: you need to find a way to track and measure your metrics. Metrics make it much simpler to detect anomalies, pivot with confidence, and fill gaps. Also, by staying informed about your data and KPIs, you’ll know where to invest in marketing and advertising.
Metrics can also be of great value in optimizing your team’s talent. Many companies leverage employee metrics for personnel management and evaluation purposes. For example, supervisors can leverage employee performance data to provide more personalized coaching and guidance during one-on-one meetings.
So how can you proceed if you want to track metrics but find the process too difficult to navigate on your own? There are certain companies that can always help you manage and optimize your metrics.
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1. Fractional CMO companies
fractional leadership took off in the remote digital age. Now you can tap into the expertise of seasoned executives without putting them on the payroll. This includes fractional marketing directors.
Fractional CMOs are individuals with extensive marketing experience who can serve in contractor roles. While you’ll pay more per hour than you would for a full-time C-Suite employee, you can overlook other costs like employee benefits, 401k mailings, and payroll taxes.
Ideally, a fractional marketing director should be able to advise you from a metrics perspective. With that said, interview potential fractional CMOs carefully. You want to make sure you find someone who has hands-on experience and comfort with data. If you find it difficult to evaluate CMOs on your own, you can opt for a fractional CMO company.
Fractional CMO companies like Hawke Media plug into their system. Hawke Media coined the term “outsourced CMO”. Instead of hiring a single person to be your CMO, you’re hiring an entity backed by the unique and combined experience of hundreds of professionals with unique combined experiences. This allows you to gain access to marketing authorities and data instantly.
The fractional CMO can take on the task of monitoring and examining KPIs and other metrics essential to your success. It’s a win-win solution, especially if you want to get your business into rapid growth mode.
2. Traditional marketing agencies
Like fractional CMO services, traditional marketing agencies generally understand how to use data to drive results. A conventional agency can serve as your entire marketing department or as an attachment to your marketing team. Before signing any contract with a marketing agency, make sure you are getting all the benefits you can from the metrics.
What should you look for when it comes to the metrics of a standard digital marketing agency deal? Talk to the agency about the metrics they collect for other businesses like yours. Does the agency measure the same metrics for all clients? Is customizing reports based on your KPIs available? Ideally, you want your marketing to receive personalized treatment. Otherwise, the agency could end up tracking metrics that won’t move the needle for their organization.
It’s the icing on the cake if your agency also has access to the latest and most sophisticated data tracking systems or software. See if you can get authorization to see your data “on the fly” through your agency’s system. If you can, you won’t have to wait for the agency to provide data insights for you.
3. CMS and related software education providers
The more you understand about data collection and metrics in general, the better your problem solving and decision making will be. Many companies offer workshops, courses, and certifications on topics related to metrics tracking and data management. Best of all, some of the knowledge is free.
To take Salesforce Trailhead Arm, for example. Salesforce is the leader in CRM. However, the company does not shy away from educating others. In fact, Trailhead’s courses run the gamut to help you get more out of the Salesforce platform. Consequently, if your team relies on Salesforce as a centralized data repository, taking a Trailhead course might be a perfect fit.
You don’t have to limit yourself to Salesforce opportunities. Many providers offer regular metrics-focused sessions – free and paid – online and in person. You and your team members can keep up to date by attending sessions on a regular basis. Then you can have more robust metrics conversations with whatever partners and vendors you work with.
See also: 10 best practices followed by successful companies and marketers
4. Data analysis consultants
Do you have tons of data that you’ve been sitting on for a while? Is it a mixture of structured and unstructured data? Talking to data analytics consultants can help you figure out how to proceed. As Caserta brand data analysis consultation notes, working with consultants can also be a faster way to achieve metrics goals.
Larger companies are usually the ones that work with data analytics consultants. However, if you are in a crowded industry or in a position to get large datasets, consider this path. With a consultant by your side, you can figure out how to get the most out of your data. You can also structure and secure it so that it’s useful for you and your team.
It is important to realize that if your data is not accessible or readable, you cannot measure it. Just a one-time data cleansing effort can open the door to future deep data dives. And the deeper you can dig into your data, the more nuggets you can uncover from it.
Metrics management for your organization may not seem intuitive. Fortunately, you have many resources available to you to help you maximize your data. So you can be the expert on your brand without having to be the expert on metrics as well.