From the course: Marketing Analytics in Action: Drive Growth and Communication with Data Insights
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Assess and benchmark your marketing program
From the course: Marketing Analytics in Action: Drive Growth and Communication with Data Insights
Assess and benchmark your marketing program
- [Instructor] I love a good cup of coffee. But have you ever had this happen? You drink too much and you get the jitters? That's because our systems can only handle so much caffeine. There's the right amount and the too much amount. Figuring out where those lines are drawn involves benchmarks. A benchmark is a reference point used for comparison. We need these points of reference to measure growth. They help inform our goals and analysis, and identifying areas for improvement. So how do you establish them? I'm going to give you three options, all rooted in the metrics that matter the most. Let's say you're running a marketing automation program for a startup company, and the growth strategy is to monetize a freemium model by having current users subscribe to a service level. The metrics that matter the most might be sends and opens, clicks and conversions. While we could delve into more granular variables like subject lines and send times, let's keep it simple and focus on these four…
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