It’s easy for you to fall into bad habits as an online marketer, especially when it comes to data analysis. And your decision-making using misunderstood data may be just as bad as your decision-making based on gut instinct.
The tools you’re given of of little help. They bury the useful data deep in report pages.
My e-mail tool, for example, will tell me how many times a fundraising message was opened or clicked. It requires more work to determine how many donations that message generated and for how much money—and those are the numbers that matter in a fundraising appeal.
Three terrible data practices make Loren McDonald’s list of a bad online marketing habits:
1. Relying on meaningless metrics: “Process” metrics like opens and clicks are easy to measure and have value, but “output” metrics like conversions and revenue per email measure email effectiveness more accurately and resonate with management.
2. Data laziness: Are you drilling deep into the numbers to gain useful insights — or just scanning the default reports from your email technology? High-level reports and dashboards are great for taking the temperature of your program, but for making decisions and truly understanding your customers, you need to transition to a deeper analytics and business intelligence mindset.
3. Benchmarking bunk: Stop obsessing about the latest benchmark study that claims the average open rate has declined 0.7% over the previous quarter. Hogwash. “Average” is the new bottom. Benchmark yourself against the best performers, like-minded companies, similar email program types — and, most importantly, against yourself. Then hold yourself accountable for acting on your findings — otherwise, what’s the point?
What bad habits do you see in your work? Let me know in the comments.