Andy Black
Help people. Get paid. Help more people.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
LEGACY MEMBER
The Need For Speed
(Excuse the dry academic look of this post. I do this much better with a flipchart. One day (yeah right) I'll redo this as a video of me with said flipchart.)
# Actual Performance vs Indicators of Performance
Actual performance for your business is likely revenue, cost, profit, ROI.
Some Key Performance Indicators (KPIs) for paid search are:
# Metrics vs Dimensions
The numbers gathered above are often called metrics, and calculated metrics.
Dimensions could be product, location, device, network, day of week, hour of day.
You filter or aggregate by dimensions.
# Converting Data into Profit
Use a continuous cycle of improvement:
...and convert Data into $$$ as below:
Observe...
Notice something about the "Measure -> Report -> Analyse -> Act" cycle?
At the Measure step, the results from the previous cycle is the data for the next cycle.
This is VERY important.
Being “data driven” and “results focused” means the same thing.
It’s why they say “you can’t manage what you can’t measure”.
Be damn careful what you measure, because that’s what you’ll be working to improve.
(BTW... I hate the "data driven" mentality. "Data informed" should be more like it.)
Also notice you can’t measure till you’ve taken action. The loop starts by taking action!
Conclusion
Marketing can be seen as a "knowledge based" project.
A common bottleneck is knowledge acquisition.
The way to overcome it is to be agile... both agile in development and agile in marketing.
That means speeding up your iterations... cycling through the loop faster.
(Excuse the dry academic look of this post. I do this much better with a flipchart. One day (yeah right) I'll redo this as a video of me with said flipchart.)
# Actual Performance vs Indicators of Performance
Actual performance for your business is likely revenue, cost, profit, ROI.
Some Key Performance Indicators (KPIs) for paid search are:
- Estimated Impression Pool (available searches)
- Impression Share
- Impressions
- Avg Pos
- Clicks
- CTR
- Conversions
- Conversion Rate
- Average-Life-Time-Value
# Metrics vs Dimensions
The numbers gathered above are often called metrics, and calculated metrics.
Dimensions could be product, location, device, network, day of week, hour of day.
You filter or aggregate by dimensions.
# Converting Data into Profit
Use a continuous cycle of improvement:
...and convert Data into $$$ as below:
Observe...
Notice something about the "Measure -> Report -> Analyse -> Act" cycle?
At the Measure step, the results from the previous cycle is the data for the next cycle.
This is VERY important.
Being “data driven” and “results focused” means the same thing.
It’s why they say “you can’t manage what you can’t measure”.
Be damn careful what you measure, because that’s what you’ll be working to improve.
(BTW... I hate the "data driven" mentality. "Data informed" should be more like it.)
Also notice you can’t measure till you’ve taken action. The loop starts by taking action!
Conclusion
Marketing can be seen as a "knowledge based" project.
A common bottleneck is knowledge acquisition.
The way to overcome it is to be agile... both agile in development and agile in marketing.
That means speeding up your iterations... cycling through the loop faster.
LAUNCH AND LEARN
(Just move faster dammit! )
(Just move faster dammit! )
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
