Introduction to Marketing Metrics
Marketing Metrics tell us whether or not we are spending our money wisely.
The current view of business is that we are trying to maximise the net worth of the company. You can think of this as the sum of the net present value of the customer lifetime value of each customer.
This made up of
- How much does each customer buy per year multiplied by
- How many years you keep the customer minus
- How much it costs to get and keep the customer
The discussion of metrics in this course is based around these ideas. Obviously the business model has to deliver a profit – otherwise you will be scaling losses but in this course we will be looking mainly at how well you drive traffic to the site and how well you convert. You can learn more by reading our white paper here.
What this course teaches us about marketing metrics.
We will discuss how can we use Google Analytics, Machine learning and other approaches to using Big Data to improve our ability to
- Identify our most promising customers
- Communicate to them in such was as to attract them to the site better
- Develop the site so that they achieve more of the microgoals we have identified
- Improve the eventual sales or engagement rate.
We will show you how to create dashboards based on the key metrics important for your particular business and to present them in a way that leads your organisation to take action through a limited number of critical KPIs.
It is particularly important to think through what these might be for Business to Business or not for profit sites. This is because we need to track engagement via downloads or video views rather than progress to an online sale.
Or you can watch our video here
Find an Introduction to Machine Learning
Find out more about Google Analytics for Websites