What gets measured, gets improved.
We all know this often repeated adage — or some form of it. It’s a nice thought, but for digital brands, it’s not quite as easy as it sounds.
According to IBM, in the U.S. alone, we create 2.5 quintillion bytes of data a day. Quintillion isn’t a number you learned in grade school? It’s 2,500,000,000,000,000,000,000 bytes, and we create this every single day.
There is a severe shortage of people with the analytics expertise to sift out insight from this unfathomably large amount of information.
As a result, marketers often rely on metrics such as Facebook Likes, Twitter followers, or YouTube views — so called vanity metrics. These metrics are vanity metrics because they are largely superficial. You may impress a less digital-savvy CMO with Facebook Likes, but those Likes fail to quantify any real impact on the bottom line.
To be forward-facing, brands must understand and quantify how their campaigns affect the short- and long-term value of their organizations by learning how to properly leverage analytics tools and talent.
Better brand experiences are just a “data mine” away if you know where to look.