Iconic management thinker Peter Drucker was the first and very possibly the greatest of all management gurus. Drucker, dubbed by BusinessWeek as “the man who invented management”, introduced many of the precepts which came to define modern management, including the mantra that “if you can’t measure it, you can’t manage it”.
This was more likely an extrapolation of Drucker’s influential writings – his 39 books included the groundbreaking 1954 work The Practice of Management – than something he actually coined. He did, however, observe that, “if you can’t measure it, you can’t improve it.” What is certain is that Drucker considered measurement a vital part of management and therefore business suc-cess.
Stop drowning – measure content marketing with focus
When virtually anything and everything can be measured, the concern arises that measurement has become an end in itself. The question now emerging is whether companies are analysing the most appropriate data, or have the right platforms in place for a ‘full view’.
Reporting can often get bogged down in measuring all statistics just because we can, rather than focusing on the stats that actually matter. To capture the magnitude of data in circulation, a widely quoted figure is 2.5 quintillion bytes of data that we create every day – an ever increasing number.
Stephanie Tully is the CMO of Qantas and watches over Australia’s largest loyalty program. Even for a legacy brand with an engaged audience, Tully has needed to dive deeper into analytics to improve targeting and understanding of customer behaviour.
The Australian airline has transformed its customer profiles through strategic partnerships with data providers and online measurement platforms, like Adobe Analytics.
“I think lots of businesses, including us, are on the journey of stitching together all of their channels so that they can talk to customers in a seamless way.”
“I think more and more, you know, there’s a future coming where there aren’t many channels that are left that are not being used in a one-to-one way. Even television and radio will end up being personalised.”
Discover the Qantas approach to data-fueled customer experiences at this podcast here.
Reporting on what’s right
Andrew Davis, an internationally recognised thought leader in content marketing, former agency executive and bestselling author, believes the ability to effectively measure content marketing is critical to its success.
“Even at a very granular level, marketers have a real problem understanding the difference between reporting on the right things and measuring the right things. At the end of the day, it boils down to making very simple assumptions,” Davis says.
“Assumption number one is that you can actually create marketing that affects the revenue, so you’ve got to start measuring revenue – even simple things like revenue per subscriber or revenue per post. Those are the kinds of things your C-level executives want you to report on, not the number of likes or fans or followers or friends you got this week on a blog post.”
When you know who your audience is, creating the content that will most resonate with them is every bit as important as the most sophisticated metrics.