Why Statistics Are Critical In Marketing
Throughout my career, reviewing statistics has never been one of my favorite activities.
As much as I love planning and implementing new programs and initiatives, I really don’t like the ongoing management role. This included tracking and reviewing statistics.
Sure, I recognize the importance of monitoring progress towards a goal. But somehow the thought of reviewing a bunch of numbers has yet to work its way into my normal way of doing things.
Even A Few Statistics Can Help
As a result of a very small collection of numerical data, last year’s webinar launch did not unfold as I had planned it.
My 2018 plan included a series of webinars.
From a marketing perspective, I did almost everything right. Once the date was set, a guest speaker was lined up and content arranged. Appropriate software was installed and tested and a promotional campaign was launched in a timely manner. We even got to the point of scheduling a rehearsal. Shortly before the rehearsal, I checked to see how many people had registered. Yikes!
The actual number of registrations was 4% of what we had expected, only 20% of the minimum number we had set. The best and right decision was to cancel the event and get on with other things.
Fortunately, both my website and Mail Chimp, my email software, generate some really useful statistics. Tracking back from the number of registrations to visitors to the landing page for the event offered some good news. About 6% of the visitors to the landing page registered for the webinar, as compared to my normal sign-up rate of 2% for comparable campaigns.
More good news came from Mail Chimp. As compared to campaigns comparable to mine, the number of recipients who opened my message was above average; the number that clicked through to the landing page was about average.
So, what happened? What went wrong?
Taking Corrective Action
Once again tracking back from these statistics, I was able to identify the problem. As is the case with many other website owners, my site simply does not attract enough traffic to support the project I had planned.
Once again, there is some good news. My 2018 plan also included some serious upgrades on my site. After the first phase of this work, there was a 20% increase in daily visitors as compared to the previous month.
As reluctant as I am to admit it, my analysis of statistics helped me identify a problem and also confirm that another new initiative is having its desired effect.
What about your statistics? What are they telling you about the effectiveness of your marketing?