How do you measure digital strategy performance and impact without common pitfalls and challenges?

1 Define your objectives and KPIs

The first step to measure digital strategy performance and impact is to define your objectives and key performance indicators (KPIs). Objectives are the specific, measurable, achievable, relevant, and time-bound goals that you want to accomplish with your digital strategy. KPIs are the metrics that indicate how well you are progressing towards your objectives. For example, if your objective is to increase website traffic, your KPIs could be sessions, pageviews, bounce rate, and sources. You should align your objectives and KPIs with your business strategy and target audience, and make sure they are clear, consistent, and realistic.

2 Choose the right tools and methods

The next step is to choose the right tools and methods to collect, analyze, and report your data. There are many tools and methods available for measuring digital strategy performance and impact, such as Google Analytics, social media analytics, email marketing analytics, surveys, interviews, focus groups, and A/B testing. You should select the tools and methods that best suit your objectives, KPIs, budget, and resources, and that can provide you with accurate, reliable, and actionable data. You should also ensure that you have a data governance framework that defines how you collect, store, access, and use your data.

3 Benchmark and segment your data

The third step is to benchmark and segment your data. Benchmarking is the process of comparing your data with industry standards, competitors, or past performance to evaluate your performance and identify gaps and opportunities. Segmenting is the process of dividing your data into meaningful groups based on common characteristics, such as demographics, behavior, or preferences. For example, you can segment your website visitors by age, gender, location, device, or channel. Benchmarking and segmenting your data can help you understand your strengths and weaknesses, tailor your digital strategy to different segments, and set realistic and relevant targets.

4 Visualize and communicate your insights

The final step is to visualize and communicate your insights. Visualization is the process of presenting your data in a graphical or visual form, such as charts, graphs, dashboards, or infographics. Communication is the process of sharing your insights with your stakeholders, such as clients, managers, or team members. Visualization and communication can help you convey your findings, recommendations, and actions in a clear, concise, and compelling way. You should use visualization and communication techniques that suit your audience, purpose, and context, and that highlight the key messages and outcomes of your analysis.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?