A new report from Forrester Research predicts that spending on site analytics solutions will continue to grow over the next six years, but that much of that growth will come from adoption of hosted options and not licensed software.
That’s all well and good, but we’re still stuck with the fact that most marketers aren’t getting the value out of the metrics they currently have. But, as R/WW says, as budgets continue to grow marketers are going to be eventually taken to task and have to show not only what is or isn’t working but also make recommendations based on those insights.
All marketing contains a certain amount of the following equation:
Brainstorm -> Research -> Plan -> Execute -> Measure -> Adjust :: Coda
Social media, a subset of online marketing, is all about that system, though, and gains much of its strength for its ability to itterate quickly and make small adjustments.
The best advice I ever got when it came to making changes based on metrics was to make small, single adjustments instead of making seven changes all at once. Doing things one at a time allows you to see clearly in those metrics what sort of impact that change had and could even open up more insight that lead to even more changes along those same lines.
The point is that metrics mean action. If you’re not deriving to-do items from the metrics you’re getting it’s time to start.