(Image from screaminggarlic.com)
Marketer. Data Scientist. Years ago those two job titles would encompass two different employees in a business. Today, a marketer is expected to meld traditional marketing strategies with the plethora of data available to businesses. Emerging media channels provide new data sources for marketers and businesses to decipher. No matter what raw data is provided to businesses, the value extracted from that data is what will help create effective and informed decisions. Let’s look at a few popular emerging media channels and the unique metrics that marketers can use to gain valuable insights.
Social media: Reach the next level
When businesses are broadcasting their message across multiple channels, one of the questions that they ask themselves is “how many people are hearing this?” In social media, the amount of potential people hearing your message is known as your reach. Reach, can give you the size of your audience by platform and your overall audience. Reach, however, doesn’t tell the whole story or provide that next level of value. Hootsuite, a social media management platform, states that with any social media metric adding the extra level of context is how you show added value. Don’t just track your audience size, but understand what percentage of audience share you hold compared to your competitors. Don’t just track likes and shares, monitor how often your content is being shared in relation to the number of social conversations occurring about your competition.
Search advertising: How high?
Pay-per-click (PPC) search advertising is an easy way for businesses to manipulate the way they display in search results to drive visitors to their website. Lots of brands employ PPC ads as a part of their marketing strategy, and most look at two different statistics to measure its effectiveness: click-through rate and position ranking. Click-through rate measures the number of clicks on an ad divided by the number of times an ad appears. The position ranking is where an ad shows in the list of search results. Click-through rate helps measure how effective an ad is at getting visitors to a website, and ranking measures how relevant your ad is to a particular result. Brands looking to provide a deeper level of tracking can add tagging to their ads, such as tags provided from DoubleClick, and tie them to a goal page or action (product purchase, email sign up, contact form, etc.), to track how PPC initiatives influence conversions.
Some brands will bid on their own name as an effective way to monopolize their brand name on search (Screenshot from Google)
Mobile: Tracking the journey
One of the most important things that marketers can understand about their mobile audience is that there is a strong possibility that they engage with a business differently than a desktop audience does. Conversion metrics particularly are important for marketers to analyze to determine how users are interacting on mobile vs. desktop. Appticles referred to a number of different studies when they concluded that consumers are more likely to do initial research on a mobile device and then purchase an item on a desktop computer. Appticles also stated that mobile trends are showing that users are starting to become more comfortable with using a mobile device from start to finish when making a purchase. This experience won’t be the norm for every business, so it is important for individual marketers to track and understand the mobile tendencies of their target audience to build the experience to fit the behavior.
Data is a driving force in modern marketing strategy. Emerging media channels are also critical for implementing marketing strategy. The three examples of emerging media channels each have their own unique set of metics that can be used to provide overall value to businesses. What other emerging media channels do you see as important to marketing professionals, and what metrics do you think are key to providing value?