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๐ DAILY BOOK SUMMARIES ๐ ๐ DIRECT FREE E-BOOK DOWNLOAD LINK AVAILABLE โ https://drive.google.com/file/d/1HAXIXGDEvD1D7FEDfAseQBSm4gmVtk3x/view?usp=drivesdk ๐ฅ Data-Driven Marketing: The 15 Metrics ๐ฅ ๐ 20 Lessons ๐ โจ Mark Jeffery โจ 1. Data-Driven Approach โข Emphasizes the use of data and analytics to make informed marketing decisions and measure effectiveness. 2. Marketing ROI (MROI) โข Introduces Marketing ROI as a critical metric to evaluate the profitability of marketing investments. 3. The 15 Key Metrics โข Defines 15 essential metrics, including MROI, customer lifetime value, and cost per lead, to track marketing performance. 4. The 70/20/10 Rule โข Advises allocating 70% of the budget to proven strategies, 20% to improving them, and 10% to testing new ideas. 5. Customer Lifetime Value (CLV) โข Highlights the importance of calculating the long-term value a customer brings to the business. 6. Segmentation and Targeting โข Encourages segmenting audiences based on data to target marketing efforts more effectively. 7. Marketing Dashboards โข Recommends creating dashboards to visualize data and monitor key metrics in real time. 8. Test and Learn โข Stresses the importance of A/B testing and experimentation to optimize campaigns and strategies. 9. Integrated Marketing โข Advocates for aligning online and offline marketing efforts to create a cohesive customer experience. 10. Cost Per Lead (CPL) โข Defines CPL as a metric to measure the efficiency of lead generation campaigns. 11. Predictive Analytics โข Uses historical data to predict future customer behavior and optimize marketing strategies. 12. Customer Retention Rate โข Emphasizes tracking retention rates as a key metric for evaluating customer loyalty and satisfaction. 13. Marketing Funnel Metrics โข Focuses on analyzing each stage of the marketing funnel to identify bottlenecks and areas for improvement. 14. Social Media Metrics โข Highlights the role of social media engagement, reach, and conversion metrics in evaluating digital campaigns. 15. The Balanced Scorecard โข Suggests using a balanced scorecard approach to align marketing goals with business objectives. 16. Attribution Models โข Discusses methods to attribute credit for conversions to specific marketing channels or campaigns. 17. Cross-Channel Analytics โข Encourages analyzing how different marketing channels work together to drive overall success. 18. Budget Optimization โข Recommends using data to allocate marketing budgets more effectively for maximum impact. 19. Accountability in Marketing โข Stresses the importance of accountability and transparency in marketing decisions using data-driven insights. 20. Culture of Analytics โข Encourages fostering a company-wide culture of data-driven decision-making for sustained marketing success.
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