Predictive Marketing Metrics
Most people when starting a business are worried about how their campaigns are reaching new audiences. Those companies that focus on the campaigns often lose sight of the customers they currently have. You want our business to do well and so do we. That is why we made it simple in order to help you understand predictive marketing metrics.
What is predictive metrics?
In short, it is the measure of the process to get to the outcome, rather than just the outcome. So instead of looking at how many customers you received in a month, it compares the marketing you used versus the outcome.
For example, let’s say that your company made 100 t-shirts and gave them out at a local festival and you got 10 new customers. Then you went to a festival the next month with 100 coupons and got 50 new customers. So you think that coupons are the best way to go and you give them out in the local paper. You get 5 new customers. Instead of looking at just the outcome to decide what is the best option, you look at what you did to get that option.
What is the process?
- Start off with the predictive metrics. It is usually one element that will have the greatest impact on your initial movement.
- Initial Movement is the first step you take to make to get to that goal.
- Key drivers are the predictive metrics for the final goal. It is the final push to the end.
- Your Goal is reached!
It is as easy as that. The best way to go about it is to define #4 then work up to #1. Establish your goal and then write out the ways to get to that goal using the process.
Have questions? Contact US!
Austin Visuals is a full-service 3D, 2D, Motion Graphics, Live Video, E-learning, Digital Publication studio. We’ve been creating digital magic nationwide for a decade. We work with companies of all sizes from startup to standout. Call us for a free consultation.