What Marketers Fail to Measure
Marketers are obsessed with measuring. They track unique visits, referral sources, abandon rate, conversion rate, click-through-rate, open-rate, geography of people visiting a web site and more fun stats. Marketers consistently seek to measure and refine, measure and refine, measure and refine, measure and refine. Thatâ€™s the focus.
But, hereâ€™s the problem:Â some marketers arenâ€™t measuring the right things; or, perhaps, they arenâ€™t measuring things in the right way.
Marketers are so conditioned to track their traditional online environs that they often ignore other metrics. For example, most companies fail to adequately measure social media marketing and offline conversionsâ€”phone calls.
- Over 90 percent of businesses use social media in some way (Source: Social Media Examiner, 2012)
- Only 16 percent of businesses using social media are actually measuring the ROI of their social media programs (Source: eMarketer, 2012)
- 52 percent of all mobile advertising leads to a phone call (Source: xAd, 2012)
- 61 percent of mobile searches lead to a phone call (Source: Google, 2012)
- 60 percent of online interactions eventually lead to a phone call (Source: Web Analytics World, 2011)
Many marketers are failing to measure things that are important. And it is clearâ€”especially given the explosion of mobile marketingâ€”that phone calls are critical to an overall marketing strategy. But, as noted above, most businesses do not track phone calls, track phone leads, gather phone marketing data or integrate call tracking into overall conversion rates.
In short: very few companies have a complete picture of their multi-channel marketing analytics.
By failing to track their calls, marketers are missing information on an entire segment of their inbound marketing. Thus, they are missing out on the marketing automation, the marketing metrics and revenue from an entire segment of potential customers.
Start tracking vital metrics. Start tracking phone calls and social media. My next few posts will address how to track these things more effectively.
About Jason Wells
Jason Wells is the CEO of ContactPoint. Their flagship product, LogMyCalls, provides inexpensive tools for businesses seeking to optimize marketing, lead quality and minimize lost leads. These toolsâ€”phone call tracking, call recording, mobile marketing automation and call performance scoringâ€”allow businesses to determine which advertising methods are effective and improve their ability to secure business over the phone. Prior to leading ContactPoint, Jason was Senior VP for Sony Pictures Television where he led the creation and international expansion of the mobile business line from London. For more information, visit www.logmycalls.com or call 866-811-8880.