Brands want to know that they are on the right track to achieve their goals. That is why measurements are important. Important performance indicators (KPIS) often give managers to determine whether what they do works or whether they have to adapt.
A customer that I worked with some time ago wanted to make sure that he effectively included the African -American and Hispanic communities as part of their growth strategy. So they pursued many of their KPIs brand through breed and ethnicity. They identified that they did not perform as well with African Americans as they should have been. My job was to help them find out and help them improve these KPIs.
Than on Including marketing strategist and consultantI have repeatedly found that traditional KPIs do not tell the whole story. Marketers and managing directors will have difficulty reaching a diverse customer base and making well -founded decisions with this lack of context.
In the following I share why traditional KPIs are neglected and, like key figures that concentrate on different groups, the key to acquiring customer success and brand growth.
Why most KPIs don’t tell the whole story
In my experience, the KPIs of most brands do not measure different communities exactly. Why? The initial marketing security of the brands was not tested for a diverse audience.
For example, I recently gave feedback during an integrative marketing audit. The customer noticed that his team had tested the advertisement and did not get the indication that there were problems.
So I asked her who they had tested with the ad. In it put the problem. Your “general market” test gave you no precise indication of how your advertisement is accepted by different consumers.
sinner: A case study
A convincing case study of this point comes from sinnerThe Original film with the highest Gau This decade. The HIT film earned 261 million US dollars in cash sales and $ 357 million worldwide. Before I even saw the film, I knew that there was a crucial dance scene that fascinated the audience. People had already raved about it on social media.
When the comedian Kevon Stage spoke about this sceneHe said that he “never saw himself in a scene”. The commentators agreed with the effects.
In view of the effects of this scene on a wide variety of spectators, I was shocked to find out that it had been cut from the film during the processing process. Actor Saul Williams, who was in Sinner, The Essence Magazine told That he saw a version of the film that did not contain this scene because it was not tested well with the general market audience.
The performance indicators showed that the scene should be left out. However, the feedback from the audience reflected the fact that the scene was decisive for the effects and success of the film.
Where does this separation come from?
The performance indicators were recorded from the perspective of the “general market”. What would have been more helpful – and this applies to most brands – it is to be understood how different types of audiences have reacted.
In short, I found that “general market” numbers for market and customer research are no longer reliable enough.
So make sure that your KPIs will receive a more complete story to you
First of all, you have to acknowledge that all metrics that you only pursue at a total of all of them tell an incomplete story. If you want to uncover the root of the event and why, you have to go deeper. This means adapting your power metrics and looking at them based on subgroups.
Deborah PickettA mathematical teacher and trainer for mathematics has been analyzing data with school systems for more than 20 years. One of their roles is to concentrate on data in schools to understand better how to act. She explained how she and school management use data to pursue the performance. First, Pickett and her team see how much percent of the students learn the material. Then dig in in subgroups.
“In other words, when we look at the subgroups of students, be it after a class level or course or according to ethnic sub -group or from students with disabilities. These students also act on the same levels as the masses? So we know whether what we do for students work,” says Pickett.
Pickett added that you have to look at several data points to uncover a more complete story.
“One of the things we often talk about is the drianulation of data. For example, if you only look at teacher data or only look at school data or just look at the overall picture, you miss all things that are happening when you look at everything together and see what history you say,” says Pickett.
Turn on my complete conversation with Deborah Pickett, which contains recommendations, what you should do about the history that your data tell in this episode of Inclusion & Marketing Podcasts:
Why pursue KPIs for different subgroups of consumers?
A frequent objection that I hear when I recommend this approach is that people do not understand why they have to pursue the performance through sub -group. I always remind customers that it is important to do this because consumers are different.
In addition, since a growing variety of breed and ethnicity in the United States and minority groups, companies can increase their representation not to afford to ignore what swings with various groups of consumers. The US Census Bureau Predicts that non-Hispanic White will blame less than half of the population in the next 25 years, and the consumer expenditure of the minorities is expected to achieve $ 7 trillion this year.
We also have to consider other dimensions of diversity, apart from the breed and ethnicity, such as sexual oritation, age, body size and type, neurodiversity, parent status and disability, to name just a few.
Although consumers who serve to come to them to solve a specific problem, I have found that the identities that each of them have can influence a number of things that influence the trip with them, including:
- The way you receive messages from you.
- Whether you convert to a customer or not.
- The degree of success you reach.
- How long do you stay with you as a customer?
If you compare your total data with power metrics through subgroup, you can evaluate how effective you are with different consumer groups. With this insight you can determine when you have to adjust your approach.
In this short video, Pickett explains why looking at data after subgroups creates better success markers, together with an example of how this method achieved positive results.
Important performance indicators of your brand should be followed
Brands that deal with integrative marketing are not as effective as possible.
A current Drift Kings Media study It found that only 32% of marketing experts whose companies invest in integrative marketing was of the opinion that their marketing efforts were very successful. The same study showed that 61% of the marketer information that their integrative marketing efforts were somewhat successful.
There are many reasons why more brands do not see their desired growth from integrative marketing. One of these reasons is that they do not pursue the right metrics to understand how they land.
A number of marketers told me that their way of pursuing integrative marketing effectiveness is based on specific measures from the brand. This has often caused the different types of representations to be followed. For example, the X percentage of people in a campaign come from a underrepresented or under -sanctuary.
However, I do not advise these types of metrics. These KPIs do not tell the story of how their brand actually occurs with consumers.
Remember that including marketing is driving business results. For this reason, there is the best way to pursue your effectiveness by evaluating how well you do with the different communities you want to serve.
Simply put, the key is to follow your existing KPIs, but do this through the subgroup of the communities with which you want to grow.
Say, your brand has general KPIs like:
- Brand awareness.
- Brand satisfaction.
- Brand binding.
- Brand storage.
- Market share.
- Customer success.
My recommendation is to follow the same data at the level of the subgroup.
This means that if you have chosen the services of Spanish speakers, gen z and the disabled community, you should follow all of these KPIs for each group.
Gary OsifchinFormer CMO at Reckitt Us Hygiene (which makes brands like Lysol, Woolite, Finish and More) told me that Reckitt KPI’s marketing teams are pursuing the subgroups that they want to serve. The KPIs they use are only standard marketing KPIs, but focus on the African-American and Hispanic communities that they want to reach. The team looks:
- Household penetration.
- Purchase price.
- Purchase frequency.
- News and communication tests.
Conclusion: When it comes to KPIs, do not reinvent the wheel. But also make sure that you follow enough data to tell you the truth about your performance.
The right KPIs support their growth.
Go beyond general market metrics to evaluate how well your brand works. This gives you a more comprehensive picture of the effects of your brand with all the different types of consumers you want to serve.
If you do this, I guarantee that you better understand what adjustments you have to make or where you can double to achieve your goals. Based on the subgroups of the consumers, KPIs enable them to better use their audience segments and record new brand growth.