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What to track 'data-day'; understanding marketing stats

Updated: Nov 19, 2021

Marketing data. We are increasingly given more and more quantitative data to 'help' us in life - our phones, cars, watches are all happily trilling stats at us all day long. Marketers throw around terms like 'engagement', and while data is of course massively useful, it can be overwhelming if you don't know what you're looking at.


With that in mind here are my five marketing data top tips:

 

What does it mean?


Understand the acronyms. We use them all the time, at work and in our personal life too - I don't understand half the ones my kids use!


Marketing acronyms can be SUPER confusing if you don't speak the lingo and to make use of the data you have, it helps to know what it is referring to first - try reading HubSpot's 75 Marketing & Business Acronyms & Abbreviations or similar to help you get started.



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It's the way you tell them.


Comedian Tim Vine's joke about statistics always makes me chuckle; "I read a statistic the other day. 54,000!!!! ...


... that's massive isn't it?!"


The answer is - YES, and also possibly NO.


Knowing how to interpret your data is super helpful, and takes practice - for example, did the person leave your website quickly because they found what they needed straight away, or because they didn't?! 🤔

 

Context is key


Once you understand the lingo, and how to interpret, next think about context.


A TikTok of mine is currently at 4.2 million views (you can watch it here). While that might seem on the surface to be impressive, the context is that it was just for fun! I'm not monetising it, it isn't sharing a message, or useful information, my goal was purely entertainment (mine in fact!).


Consider what you are trying to achieve before you hail big numbers as a failure or a success.

 

Just keep swimming


Monitor your data regularly.


It doesn't have to take a long time, but making it a task you do often means you'll get quicker at understanding what you're looking at, build a picture of your business and industry, and be able to spot trends over time.

 

Remember data isn't the whole picture

Data only tells you half the story. Sounds obvious but remember, your data can only tell you about what it knows.


Take social media. You can see how many clicks, comments shares etc. but you can't see the lurkers, the ones who don't comment, don't engage, don't click.


Simon Sinek's talk on leadership below starts with 'give me the metric that helps me know', and while it isn't about marketing, it highlights how not everything can be quantified with just numbers.




What a minefield it can be! If you're struggling with understanding what to track, what it means, or even where to start, why not book a power hour with me and we can get to the bottom of it together.




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