It's no secret that analytics—related to your revenue, website, customers, and brand—should be a cornerstone of any marketing program. Tracking external metrics such as leads, traffic, and conversion rates are pretty much a given. But what about internal metrics?
In a Birkman International survey, only one-third of the companies surveyed said they measured employee productivity. If your external metrics dip, wouldn't it also be as important to measure how productive your marketing department is at executing the programs on which the company relies?
Without department performance-related analytics, it's nearly impossible to pinpoint where changes need to be made and what areas need to be improved. Gut instinct is important; it just can't be your go-to metric if you want to show executives that you are getting the most out of the people and other resources that you have.
How should productivity be measured? You have a lot of options, but not all are created equal. Here are three types of internal marketing metrics with specific measurements you should be tracking to help ensure greater effectiveness, efficiency, and predictability for your team.
In any company, there are new initiatives to execute and there are the things that simply must be done every day. Whether your business is large or small, when you reinvent the wheel at every new business opportunity... you are wasting precious resources.
Efficiency metrics that improve typically result in saved time and saved money. Unchecked inefficiencies are discouraging and improvident.
To measure efficiency, you will need to track the following:
- Time spent in status-update meetings. You should know how often you or your team is pulled into any status meeting or provides updates about work status via email. Once you see how time much is spent in status updates, you can begin to pinpoint how often these activities are redundant. You can also use that data to set up routing rules for certain pieces of communication, reducing the need for meetings than are not needed.
- Work success vs. failure rates. That seems like a simple measurement. However, if you don't know definitively how often your website updates are launching versus being postponed or canceled, for example, then you won't know whether the failure is chronic or a one-time thing. Tracking any project failure can also show you the cost associated with lost team hours or missed sales, so you can take steps to address the reasons for delay.
- Time spent and resources used on repeatable work. Knowing exactly how much time and resources you spend on any activities you do over and over again, such as executing a quarterly demand-generation campaign, will let you find an average completion time and then facilitate opportunities to streamline processes and implement productive solutions, such as templates.
- Frequency of work interruption. Unplanned and unpredictable crises such as unexpected client needs, pet projects from upper management, and unforeseen end-of-day demands play their part in interrupting your planned workflow. Interruptions are costly time-sucks. Tracking interruptions as a team clarifies why and how each interruption came about and gives you a starting point to discuss changes in policy, such as dedicated no-call times and email autoresponders.
Take the first step (it's free).
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