Digital KPIs: Here’s Your Blind Spot
Mike Concannon
Help CEOs build scalable and sustainable growth engines to overcome sales, EBITDA, innovation, and brand management challenges. B2C, B2B, Private Equity, Consumer, Healthcare.
The under-examined factor when evaluating digital KPIs??
The product.?
Product, as in … the actual core product, the product story (promise), the user experience, and the visual identity.?
Me-too, Boring, Drab, Confusing products and shopping experiences wrap a 1,000 lb. millstone around the most deftly planned and well-funded digital campaign.?
A underwhelming ‘product/UX’ is likely the key contributor to common digital laments.
-????????Why is ROAS/ROI not improving?
-????????Why don’t we get more followers/shares/likes?
-????????Why such disparity between CTR and conversion?
-????????Why aren’t we selling more on Amazon??
-????????Why don’t we have higher organic ranking in Google?
-????????Why is that upstart competitor doing better than us??
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-????????Why don’t influencers get more excited about brand??
-????????Feel free to add your top laments?
Not enough time and attention is being devoted to improve what the business fully controls, and the one item that can turbo-charge every other (digital) marketing activity/investment … the ‘product’.
Making a product Noticeably Different and Demonstrably Better is a challenging process – yet, mere mortals do it. Heritage brands are reinvented with great success. Eric Ryan (Method, Olly, Welly) has reinvigorated dull categories with one fundamental question. Most/All the winning DTC brands are succeeding by creating a product with an element of ‘shock & awe’ in the product, or UX.?
Injecting ‘shock & awe’ begins with a few basic questions, followed by focused attention, diligent thought, and deciding that you will make your brand stand out, rather than fit in – it can’t do both.?
The less money you have, the more important ‘shock & awe’ is, because for a business with limited funds/resources … the product is the marketing.?
Improving digital KPIs smacks of the maxim:?“If you want to change the world, begin with yourself.”
If you settle for a ‘meh’ product, then plan for uninspiring KPIs.?
Don’t settle.??
O.D.O.o.O.D.B.
Business Development and Talent Acquisition
3 年Great read and insight. Thanks for sharing, Mike!