As the CMO of a startup, I had many tools at my disposal to measure and analyze my digital marketing. However I was also spending money on above the line marketing and communications such as PR, events and social media. I knew in my gut that these efforts were driving growth, but I didn’t have the tools to prove it. Each time we received a mention in the press, or a key influencer tweeted about us, I would record the date and activity in an excel spreadsheet.
When it came time to prepare end of quarter reports for myself and my team, I would manually cross reference that list against our daily registration numbers, exposing correlations between my marketing efforts and our business wins.
It was pretty clear that some of these activities were having a huge, and previously untracked, impact on our company’s performance. And it stood to reason there were a number of other hidden performance drivers that also weren’t being tracked – like offline activity and what our competitors were up to.
Here are the top events that don’t get tracked through traditional analytics software that I believe are essential in understanding what drives your company’s KPIs, that all companies should be collecting:
Press Coverage – if you can’t remember the date three, six or twelve months ago when you received press, how can you understand historical growth data or optimize your PR campaigns?
Events and Tradeshows – do you compare company KPIs to the dates you attended events? Not only does this provide insight into performance but can help you decide where to spend your time in the future.
Product Releases – does an increase or decrease in sign ups follow your product releases? Unless you link your performance and the release dates, it can be hard to tell.
Changes in the Competitive Landscape – new competitor? Did the competition just raise money? Go out of business? In a previous role, one of our competitors received bad press – it was important to link the industry landscape to our own performance.
Tracking the dates of key events in your company timeline and correlating that information to KPIs can give you much deeper insights about what’s really driving company growth.
That’s why I created Spectacyl, the first analytics platform that links these events with your key metrics. Spectacyl is free to use and the easiest way to start tracking, and gaining insight, from these critical company events. Whether you use Spectacyl, a spreadsheet, a calendar or a post-it, it’s time you started tracking the events that are driving what might be a surprisingly large part of your company’s KPIs.