Everyone has been trying to find new ways to track metrics and monitor data. After all, the more use you can get out of your data, the easier it is to make decisions, grow bigger, and build a brand. Although it’s possible to measure just about anything these days, there’s so much data that it can seem daunting.
You might not have a background in IT or data analysis, and as a result, you may feel confused when faced with making metrics-related decisions rather than trusting your instincts.
One thing’s clear: You need to find a way to track and evaluate your metrics. Metrics make it so much simpler to detect anomalies, pivot confidently, and plug gaps. Plus, by staying on top of your data and KPIs, you’ll know where to deploy your marketing and advertising dollars.
Metrics can be of great value for optimizing your team’s talent, too. Many corporations leverage employee metrics for staff management and evaluation purposes. For example, supervisors can leverage employee performance data to foster more personalized coaching and mentoring during one-on-ones.
So how can you proceed if you want to track metrics but find the process too hard to navigate alone? There are certain companies that can always help you manage and optimize your metrics.
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1. Fractional CMO firms
Fractional leadership has taken off in the remote, digital era. Now, you can tap into the expertise of knowledgeable executives without putting them on the payroll. This includes fractional chief marketing officers.
Fractional CMOs are individuals with vast marketing experience who can serve in contractor positions. Though you’ll pay more per hour than you would for a C-Suite full-time employee, you can bypass other costs like employee benefits, 401k matches, and payroll taxes.
Ideally, a fractional chief marketing officer should be able to advise you from a metrics standpoint. With that being said, interview potential fractional CMOs carefully. You want to make sure you find one who has hands-on experience in and comfort with data. If you find it difficult to evaluate CMOs yourself, you could opt for a fractional CMO firm instead.
Fractional CMO firms such as Hawke Media plug into your system. Hawke Media has coined the term “outsourced CMO.” Rather than hiring a single person to be your CMO, you’re hiring an entity backed by the unique, combined experience of hundreds of professionals with unique combined experience. This enables you to gain access to marketing and data authorities instantly.
The fractional CMO can take up the task of monitoring and examining KPIs and other metrics essential to your success. It’s a win-win solution, especially if you want to push your company into rapid growth mode.
2. Traditional marketing agencies
Like fractional CMO services, traditional marketing agencies usually understand how to use data to drive outcomes. A conventional agency can serve as your entire marketing department or as an annex of your marketing team. Before signing any agreement with a marketing agency, be sure you’re getting all the metrics benefits possible.
What should you look for when it comes to metrics from a standard digital marketing agency arrangement? Talk to the agency about the metrics that it collects for other businesses like yours. Does the agency measure the same metrics for all clients? Is customization of reports based on your KPIs available? Ideally, you want your marketing to get personalized treatment. Otherwise, the agency may end up tracking metrics that won’t move the needle for your organization.
It’s icing on the cake if your agency also has access to the latest, most sophisticated data tracking systems or software. See if you can gain authorization to see your data “in the moment” through your agency’s system. If you can, you won’t have to wait until the agency delivers data insights to you.
3. CMS and related software education providers
The more you understand about the subject of data collection and metrics in general, the better your problem-solving and decision-making. Many companies offer workshops, courses, and certifications in topics surrounding metrics tracking and data management. Best of all, some of the knowledge is free.
Take Salesforce’s Trailhead arm, for instance. Salesforce is the CRM leader. However, the company doesn’t shy away from educating others. In fact, Trailhead courses run the gamut to help you get more out of the Salesforce platform. Consequently, if your team relies on Salesforce as a centralized data repository, undergoing Trailhead coursework could be a perfect fit.
You don’t have to limit yourself to Salesforce’s opportunities. Many providers offer regular metrics-focused sessions—both free and paid—online and in-person. You and your team members can stay up to date by attending sessions routinely. Then, you can have more robust conversations about metrics with any partners and providers you work with.
4. Data analytics consultants
Do you have tons of data that you’ve been sitting on for a while now? Is it a mix of structured and unstructured data? Speaking with data analytics consultants might help you figure out how to proceed. As data analytics consultation brand Caserta notes, working with consultants can be a faster way to reach metrics objectives, too.
Larger enterprises have usually been the ones to work with data analytics consultants. Nevertheless, if you’re in a crowded industry or in a position to obtain large pools of data, consider this route. With a consultant by your side, you can figure out how to make the most of your data. You can also structure and protect it so it’s useful for you and your team.
It’s important to realize that if your data isn’t accessible or readable, you can’t measure it. Just a one-time data cleanup effort could open the doors for future data deep dives. And the deeper you can peer into your data, the more nuggets you can unearth from it.
Managing metrics for your organization may not seem intuitive. Fortunately, you have many resources available to help you maximize your data. So you can be the expert of your brand without needing to be the expert of metrics as well.