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I overheard a CEO last week ask the marketing guy: “Hey, are we any good at generating business using digital?” Easy enough question right, but if you consider it for a while, holistic metrics like ROI and ROMI do not fully offer insight into whether a company is maximizing its digital business opportunity.
But how can we measure this? Enter the Digital Business Quotient (DBQ).
According to Econsultancy's recently published Content Marketing Survey, the number of search queries for the phrase 'content marketing' has more than doubled in the past two years, a reflection of the fact that more and more companies are turning to content marketing to promote their wares.
When used effectively, content can be one of the most powerful marketing tools, but many companies dipping their toes in the content marketing water are making huge mistakes in how they develop and execute their strategies.
Recently, I looked at how respondents to our Content Marketing Survey Report are measuring the results of their content marketing efforts.
Following on from this, I thought I'd provide some insight into the content marketing objectives for the blog, the metrics we look at to measure success, and the lessons we learn from them.
Hopefully, there’s at least one you can use.
With consumers posting countless pieces of content each and every day on popular social platforms like Facebook and Twitter, it's no surprise that much of the attention of the social media ecosystem has been focused on 'real-time.'
But for brands trying to reach consumers on these platforms, is there room for a back-to-the-future approach?
Content marketing is all the rage right now, but how are publishers measuring the success of their content strategies? What are the most important metrics?
Of course, the answer may depend on the type of business and the aims of any content strategy, but some metrics are useful whatever the purpose.
For brand marketers looking to figure out whether or not their Twitter investments are paying off, metrics are a big challenge.
Arguably the most prominent Twitter metric, followers, is of limited use in practice, particularly since it's so easy to game. Other metrics, such as retweets, may be slightly more meaningful, but they're often difficult to connect to the most important business KPIs as well.
Einstein may have pre-dated email marketing by many years but when he said “Not everything that can be counted counts and not everything that counts can be counted” he could have well been thinking about email marketing metrics.
Email marketing is rich in metrics; open rate, click rate, click to open, conversions, spam complaint rates, hard bounces, soft bounces, inbox placement rate, hurdle rates, unsubscribe rates, list growth rate, time spent reading, mobile opens and much more.
Unlike many marketing channels that are crying out for more meaningful metrics, the question for email is a little different.
Just which metrics to use?
I recently caught up with Tim Watson Founder of Zettasphere and Chair of the Legal & Best Practise hub at the DMA’s Email Marketing Council to find out more about the new email metrics and evaluation whitepaper he’s authored for the DMA.
Wall Street may be done beating up Facebook shares, at least for the time being, but the world's largest social network still faces significant challenges.
One of the biggest and most talked about: skyrocketing mobile usage that is making it more difficult for the company to monetize its massive audience.
While more than half of brands say that customers regularly research their products on mobile, 36% rate the customer experience they provide to mobile users as 'poor' or 'very poor'.
As more brands launch mobile sites and apps, and use mobile marketing, providing an excellent customer experience becomes ever more important, and these results suggest there is much to be done.
It’s been a week of social metrics and measurement for me.
On day one of this week’s Social Media World Forum, held at Olympia in London, I sat in no less than four different sessions on measuring the value of social.
Another discussion this morning, hosted by Waggener Edstrom on social advertising, took a similar line.
I thought it might be helpful to collate some of the quotes, learnings and case studies that were mentioned, to act as further reading or perhaps inspire new models for social media measurement.
Companies are still grappling with the issue of measuring social media, though fewer are reporting that they are unable to measure ROI (37%) compared with 47% last year.
Here's a few highlights from the report...