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Last week, I had the opportunity to attend the 360i Client Summit in NYC where I was able to listen to brands discuss the current state of digital marketing within the context of their company.
In many ways, digital marketing (any form of it, from PPC to SEO) is just like starting and managing a start up. You might love the ads you created, the new landing page you designed or the email copy you’ve crafted just as much as an entrepreneur believes that his product or his idea will be the next big thing.
The Vanity metrics concept came about in 2011 when Eric Ries introduced the Lean startup framework and with it, a very different way of doing business.
The Lean Startup is a method for launching new businesses and products based on validating ideas through experimentation and iteration. At the totally opposite side of the spectrum are vanity metrics – metrics that make (you think) things look good, but don’t tell you if you’re moving any closer or further away from your business goals. Because they don’t tell you what’s really important, vanity metrics don’t move things forward, they keep you stuck. The same, digital marketers can lose sight of the big picture by looking at shallow metrics.
I know, I know – click through rate’s been around since the dawn of digital marketing and one generation just passed it on to another. Still… Let’s take the following somewhat fictional scenario to see why CTR is a vanity metric. Bottom line: Even if you get a high click through rate and consequently, a lot of users interacting with your ads, are they really the users that you’re interested in? Just like entrepreneurs can get carried away by numbers such as the number of signups or the number of followers, marketers can get fascinated with the number of the clicks.
The bottom line is just like with CTR: how do you know if any of those clicks are any good? But does it really matter how much you pay for each click your ads get as long as you see a positive return on investment from your campaign? Unless you’re aiming to raise brand awareness, this is the number one metric you should look at. Let’s say that you have two campaigns: a Google search ads campaign and an email marketing campaign. But, let’s say that the total conversion value on the Adwords campaign is $750 and on the email marketing campaign it’s $450. To get the total conversion value, you need to install tracking codes, set up your conversions and ,very important – assign at least an average conversion value if you can’t pass the value for each of your conversions individually. A day does not go by where a start-up is conceived, a new platform is released, or two companies merge their technologies to better serve their clients.
In watching these presentations, the common thread to success is that brands are using digital platforms to listen to their customers, learn their habits and quirks, and be there for them when the customer needs them the most.

Data-driven storytelling – Marketers are beginning to find new ways to take what data they have and craft a personalized story unique to each prospect. The use of APIs – I like to think of an API as a bridge that allows two disparate pieces of technology to communicate in the same language.
Brands are publishers – More than ever, brands have a strong ability to control how they are represented in the public eye. One of its core ideas is the MVP (minimum viable product), a basic version of the product that allows entrepreneurs to test new business hypothesis. According to Ash Maurya, actionable metrics are metrics that tie specific and repeatable actions to observed results. Common vanity metric examples would be the website traffic you get or your number of followers.
Or worse, they can propel you on a downward spiral because you’re not paying attention to what matters. Here are the top 3 vanity metrics digital marketers (and sometimes entrepreneurs) often succumb to. From search text ads to social ads to email marketing to SERPs, there’s yet to be a digital marketing channel that does not use click through rate as a performance indicator.
If you got 7000 clicks from an email that you sent to a list of 20,000 emails, then no – it’s not too shabby.
A lost of marketers shoot for a low CPC straight off and get worried when they see a bigger cost per click.
The total conversion value is the only one that tells you if your digital marketing efforts are running a loss or not. You’re marketing the same product, reaching a new audience and spent the same – $500 on each. That information tells you which is the most you can afford to spend to bring in a new customer. The digital space is exponentially growing and creating new ideas to help companies solve complex problems.
Each one of these trends allows brands to digitally enhance the connection they have with their customer, ultimately creating a strong emotional connection to the brand, growing loyalty and increasing profit. Instead of sending generic or slightly personalized content, marketers are digging deep into their data insights to form a narrative engaging with the right person, on the right device at the moment they care. Marina MacDonald, CMO of Red Roof Inn, noticed a huge opportunity for weather related flight cancellations.
Whether it is digital, social, ecommerce, search, display, or marketing automation, marketers are publishers. Please contact us with any feedback or questions about Digital Marketing Suite or IgnitionOne.

By starting small and experimenting with concepts on a small number of customers, companies can reduce the risk of expensive and inefficient product releases. Actionable metrics help you make informed business decisions that move you closer to your goals. In the process, they might overlook the fact that retention is as thin as water and users just come and go. Still, that matters if you’re aiming for the top three ad spots and those aren’t the ones that convert best. If, on the other hand you got 7000 clicks from a list of 1,000,000 emails (numbers skewed to illustrate the difference), that’s a different story.
It shows you how you’re doing and you know you can improve: the ads, the costs, the results. As a marketer, digital marketing can be exhausting, confusing and leave you asking yourself, “where do I begin?” In my opinion, the best way to evaluate these vendors is by aligning your top three strategic objectives to the top trends in digital marketing to narrow down your pick-list. Ellen Stone, EVP Marketing at Bravo and Oxygen Media, further explained how storytelling can be used with transmedia to evolve or shape the story. When a flight was cancelled, consumers were turning to their smartphones to book a near-by hotel. In a presentation by The Huffington Post, it was mentioned that we have “60X more content from brands in our newsfeeds today than just 2 years ago.” Brands are beginning to recognize significant value in producing informative, timely and educational content for their target audience. But when you check your Analytics numbers you see that you get a 80% bounce rate on the users that are coming in through those ads. For example, on their show Top Chef, they drive consumers from TV to digital as a way to vote back on their favorite chef who was eliminated, thus using digital as a means to shape their TV show. Red Roof Inn created an API with weather-data and local flight cancellations to place higher bids in search engines in areas where flights were cancelled due to weather. This thought-leadership positions the brand as an expert on the topic, while continuing to deepen the relationship with their customer in a way where the brand can narrative extremely personalized and relevant content to their customers. Consumers saw them at the top of the search engine and Red Roof Inn was only paying a fraction of the cost in media spend.
This directly resulted in at 375% conversion rate and a 60% lift in bookings simply because platforms were communicating more effectively with each other.

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