The Virtual CMO Podcast

Season 7, Episode 8

In episode 108, host Eric Dickmann interviews Chris Mercer. Over the years, Chris has been helping companies measure their marketing metrics, so they know what’s working and what’s not. Today, Chris serves as a Measurement Marketer at MeasurementMarketing.io. MeasurementMarketing.io helps businesses know their numbers to secure better, profit-generating results. Their services are focused on Google Analytics, Google Tag Manager, Google Data Studio, and Measurement Strategy. Chris Mercer is recognized for his ability to simplify even the most complex ideas for his audience. He can be found speaking at various conferences and events across the country. You can connect with Chris on LinkedIn and Twitter.

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The Need for Marketing Metrics

Marketing metrics help businesses understand if they have achieved stated goals gaining new leads, raising awareness, increasing sales and conversions, or achieving a high search engine ranking. Having metrics in place allows businesses to be more intentional and focused on achieving strong results from their marketing activities. Just think about it as a checklist that companies can use to ensure they are on the right track and pace. Benefits of tracking your metrics:

• Creates a competitive advantage
• Increases ROI
• Saves the business money
• Hastens business growth
• It determines what works and what doesn’t

What are Marketing Metrics?

Marketing metrics are used to assess a business’ performance across different channels over time. With the growth of digital marketing, marketers can have a hard time identifying what to track. Keep in mind that you don’t have to track everything. Only focus on what is essential and impactful for your business. Here are metrics that should be on top of your list:

• Conversion rates
• Social shares
• Lead generation
• Organic traffic

Highlights from Our Conversation with Chris:

“We need less data, not more. But we really need is story, So it's not data that's important. It's the information being collected, it's the story that that information tells."

• [00:02:20] What are some of the very first things that would need to be embedded within your website?- The first thing to think about when it comes to using tools like Google Analytics or any sort of measurement strategy is that there are stages. Start with the basics and get more sophisticated as your knowledge and skills advance.
• [00:04:43] Google Analytics in a nutshell- Focus on your offer, get it out there, get traffic to your pages.
• [00:07:47] Google Analytics, Google Search Console, Google Tag Manager– Though all of these are great tools to use, new marketers still share the same confusion as to how and when to integrate each feature into their business process. What is great about these tools is that they are free to use anytime!
• [00:13:06] Data Studio– Data Studio is a perfect alternative for people allergic to the rows of numbers in Google Analytics. It is a free platform where you can create dashboards, flow charts, and measure conversion rates in between steps.
• [00:16:42] How Tag Manager can help your business– You may have the data, but Tag Manager lights everything up and gives your information a clearer and more defined meaning. Businesses will eventually want to use it because there are so many benefits to having it on your website.
• [00:20:41] What marketing metrics do you need to track?– Chris shares a three-step framework to guide marketers through-Plan out your measurement, build out the marketing metrics, and then use your measurement system. The better you get at measurement and understanding your measurement and workflow, the easier it is to understand your customers.
• [00:26:01] The purpose of your homepage- Your homepage should serve as a directory for your visitors. Remember, your homepage is not designed to collect leads; its job is to get people to the offer page.
• [00:31:00] Recommended tools and plugins for WordPress users- Mercer recommends Monster Insights and JetPack. These tools help users see that grainy sort of image a little clearer.

Marketing Metrics and Other Resources Mentioned

• MeasurementMarketing.io- Company Website

Live Stream on YouTube