From the first time you meet a client through to being appointed and retained, knowing what success looks like is critical. But success comes in many forms and sometimes you need to work hard to get to answers that cement and align the relationship.
There are lots of vanity metrics in digital marketing. In the case of SEO for example, is it our job to increase Sessions from Organic Search or Rankings? Or are we here to increase Conversions, Revenue and improve channel ROI?
The answer is obvious, and is why it’s important to agree on a balanced set of KPIs that define success. If metrics that may not correlate with business goals are going to be used, aka Vanity Metrics, we need to balance them with KPIs that do align with how our clients succeed.
Internally we use OKRs to align our Company Goals with our Team Goals. What I like about OKRs is for every goal you have typically one to four Key Results that contain metrics with a typically hard target. This means you have an opportunity to describe meaningful goals. For example this an SEO OKR.
Objective: Make Organic Search a high ROI channel
Key Result 1: Increase our Sessions from Organic Search to X
Key Result 2: Improve our Organic Search Conversion Rate to X%
Key Result 3: Increase Revenue Attributed to Organic Search to X
Here we are focusing on growing traffic, converting it and driving revenue. They are both essential building blocks of the Objective being achieved and have codependency.
You can do the same exercise for all of your OKRs with the cool thing being they exist in Parent / Child hierarchical relationships. So your Organic Search OKR might be one of the Child OKRs to a higher level goal on increasing Marketing performance.
When you start to measure channel and campaign ROI you’re talking about attributing value. This means you’ve got to be confident on the approach, models, and implementation of your chosen attribution software.
Internally we use OKR software called ZOKRI to create and manage OKRs. But you can run goals in Sheets as well. We also use Cubed our Attribution Software to ensure we get accurate views on channel ROI.
4 simple steps to defining and measuring success
Here are the 4 steps to defining success you might want to look at.
1. You commit to defining it – there’s no need for ambiguity
2. You try and avoid vanity metrics
3. Commit to better setting up analytics well and better attribution modelling
4. Use goal setting frameworks like OKRs to measure better metrics, and create better goal alignment between the company and teams
If you’d like to share what success looks like with an agency that wants to help you reach your marketing goals, we’d love to speak to you.