Marketers increasingly focusing on new types of measurement data

Written by  Deborah Bates Monday, 19 March 2012 09:37

Marketers are changing their measurement process; taking into account different data in order to gauge success.

That's the opinion of Marketingweek.co.uk writer and interactive media expert Michael Nutley, who explained that marketers are increasingly choosing "pirate metrics" instead of "vanity metrics".

These two terms were coined by Dave McClure, a capitalist in Silicon Valley and Nutley believes they have helped support the "maturity" of digital measurement.

"Business should not concentrate on what he [McClure] terms 'vanity metrics' - likes, friends and fans - and instead look at acquisitions, activation, retention, referral and revenue [pirate metrics] - factors that make a real difference to a company's performance," Nutley said. This may inspire working on social media campaigns or bulk email marketing campaigns to measure how their financial impact rather than their reptutational impact; given that this could be a greater gauge of success.

It could also help them manage their marketing budget more effectively, as Forbes.com confirmed that brands measuring their marketing ROI can prove "savvier" when it comes to the financial aspects of the business.

Nutley concluded his comments by stating that although some marketers feel "unprepared" for the bank of measurement data afforded to them, it's simply about searching "different places" to find the data that works best for them.

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