It can be hard to define where your business is most effective without tracking data on how it is performing. In this video, explore the impact that your data can have on improving your business.
- Marketing is a science. … In order to pinpoint a strategy, report on results, … and evaluate opportunities for improvement, … you need to be capturing and analyzing data. … We live in a world that is data-driven. … We have the tools and resources to measure anything we want. … So it's important that you can answer the question, … what are your metrics? … Now, the real issue here tends not to be a lack of data, … but rather a lack of focus. … There's not time for a 10-page report … of all the business metrics. … To avoid information overload, … you want to focus on the metrics that matter most. … An easy approach is to categorize your metrics … by the critical areas of business. … Acquisition, activation, retention, referral, and revenue. … Dave McClure, venture capitalist and angel investor, … refers to these as the Pirate Metrics. … Named because when you take the first letter of each stage, … it sounds like, well, a pirate. … Aarrr, matey. … You'll want to identify a key metric … from each of those areas depending …
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