[BLOG] Metrics. Serious stuff, mate.
This is a serious topic. If you are not in the mood today, that’s fine. Skip it. Come back whenever you’re ready, or when your trust, reputation, category, brand or whatever again catches your urgent attention.
You are welcome any time and as many times as you find helpful.
What’s so serious about metrics?
Metrics should tell us whether our initiatives, messaging and engagement are moving us towards our objective. That’s the assumption. Whether that objective is trust, reputation, category approval, acceptance, product permissibility, etc. (the list can be exhaustive).
And that’s where the trouble is.
To start. Do we know the exact drivers of trust, reputation, category approval … of our company, category or brands? Really know. By heart. The top three or four research-validated statements that explain what move performance?
Thought not, but self-honesty is good.
If we don’t. How did we come up with our initial objectives? How did we decide and define the metrics? What are we actually measuring? And versus what?
Yes, the seriousness continues.
What to prioritise. Trust over category approval, product acceptance or reputation? What part of the priority do we then focus on? Honesty for trust? Doing the right thing? Transparency? Do we even know what the pillars of trust are?
Finally, how do we know who is available for influence, their opinion, feeling, attitude or behavioural change?
Yep, serious stuff.
The reality is that if we do not understand the drivers, how they relate to performance, who is available and how, we can’t set objectives and measure, explain and demonstrate performance.
But there is light.
The future of metrics is brightening. Our ability to measure, evaluate and demonstrate performance and get budget is in a good place. All we need is insights troops in-house and agency to get the studies done. The methodologies and tools are affordable.
Yes, investment and effort is necessary. No excuses of low budgets, high costs and complexity. That road is metrics trouble, we know this. My friend, this is serious business.
Don’t continue vague objectives and measuring something against actually nothing. Budgets belong to those who demonstrate business results through validated metrics.
The words of truths are simple.
So, if you are serious about the metrics, let’s talk.
Author: Sandro Baričević