The Increasing Importance of Analytics

"...business strategy shifted to statisticians, algorithms, and predictive models, important building blocks for the online marketing revolution that dawned with the new millennium." Mark W. Schaefer, Return on Influence, page 90.

To build your business, you can't just focus on content. Marketing isn't all content creation. Success depends on engagement (conversations!), analytics, and measurement. Do you have goals and how close are you to meeting those goals? Are you using social media to be social or as a digital billboard?

Are you building your skills to understand what is statistically relevant, how algorithms work, and how predictive models might be affecting your marketing?

Kevan Lee says, "What are you hoping to get from your social media marketing? That’s question No. 1 as you consider which stats to track."

Don't just start looking at whatever metrics strike your fancy. Use this framework: 

  1. Determine your goals.
  2. Quantify them.
  3. Identify what metrics show progress toward those goals.
  4. Set benchmarks or targets for those metrics.
  5. Track those metrics.
  6. Evaluate your performance relative to the target you set for yourself.
  7. Make the necessary changes and try again!

Focus on what success looks like for you and you will achieve it! Good luck!