Performance is revenue, cost, profit, ROI.
Key Performance Indicators (for paid search) are Estimated Impression Pool (available searches), Impression Share, Impressions, Avg Pos, Clicks, CTR, Conversions, Conversion Rate, Average-Life-Time-Value.
(These are metrics, and calculated metrics.)
(Do not confuse Key Performance Indicators (KPIs) with actual Performance!)
Dimensions are product, location, device, network, etc.
(You filter or aggregate by these.)
Over time, analyse trends, including day-on-day (DOD), week-on-week (WOW), and month-on-month (MOM) comparisons/trends.
You can’t acquire knowledge until you have data though.
Use a continuous cycle of improvement:
To convert Data into $$$ as below:
Notice something about the “Measure -> Report -> Analyse -> Act” cycle?
At the Measure step, the results from the previous cycle is the data for the next cycle.
This is VERY important.
Being “data driven” and “results focused” means the same thing.
It’s why they say “you can’t manage what you can’t measure”.
Be damn careful what you measure, because that’s what you’ll be working to improve.
(BTW… I hate the “data driven” mentality. “Data informed” should be more like it.)
Marketing can be seen as a “knowledge based” project.
A common bottleneck is knowledge acquisition.
The way to overcome it is to be agile… both agile in development and agile in marketing.
That means speeding up your iterations… cycling through the loop faster.
LAUNCH AND LEARN
(Just move faster dammit!)