Performance Metrics - Making Analytics Work throughout a Program Lifecycle
Ottawa is host to an amazing annual conference for public sector marketers and communicators (mostly) who come from all over Canada to learn and discuss marketing and communications from a practical perspective. MARCOM 2018, held this past June 6-7 did not disappoint with a well-rounded roster of speakers, of which I happened to be one.
In the past, I have focused on topics around analytics that appealed to both those new to the world of analytics, and those seasoned marketing and communications professionals looking for advanced tips. This year, I decided to focus on a topic that perhaps is mentioned more than it is properly explained from an analytics and insights perspective. Discussions around ‘Performance Management’ often focus on human resources, and sometimes look at the efficacy of programs (sometimes social – sometimes not) and their impact on Canadians.
The reason I wanted to present on Performance Metrics, other than this was a topic of interest to senior government communications folks, was because I see a gap in thinking around measurement and the performance of programs, campaigns and, even organizations. Measurement is not a task or event – it is part of the STRATEGY. This is not new for me – you have heard me talk about Measurement Strategies in the past. My argument in the presentation was that thinking around Performance Metrics and Programs should be one where they are part of the conversation from start to finish.
What is Performance Metrics, you ask?
Performance Metrics are quantifiable measures that are used to track and assess the status of a specific program or business process. They are employed (for the purpose of my presentation) to address key audiences surrounding a business or government department: employees, executive, mid-management, general staff, citizens, customers, investors, etc.
Examples of where Performance Metrics exist, show up in the monitoring of activity in every area of an organization:
- Marketers track marketing and social media metrics related to persuasion
- Communications tracks audience reach, engagement level, open rates
- Sales teams monitor sales performance metrics such as cost per acquisition, growth in new opportunities and lead conversion rates
Based on this definition, and the importance I believe should be placed on this tool for setting yourself up for success, I contend that there are 4 Stages of Performance Metrics that should be considered as you implement any program or campaign in your organization. These include:
- Stage 1: Program Proposal / Sponsorship – What is the data behind the problem you are trying to solve? What story around the current data can you tell to be persuasive in getting your program approved?
- Stage 2: Finalize Strategy – Data informs the strategy. But how will you be able to monitor your strategy as it rolls out to make sure you are on track and your assumptions are correct?
- Stage 3: Monitor Progress for Duration – Constant monitoring of KPI’s (metrics) leads to opportunities for constant improvement and course correction to ensure success.
- Stage 4: Final Program Reporting – More than just total impact, but uncovering KPI’s that highlight key engagement stories. Also – how democratic is the access to your Program metrics?
Check out the presentation (click graphic below for PDF) for the full story on Performance Metrics as well as discussions about story telling with metrics and building communications funnels
Thank you for reading today’s post. I have been away from The Tuesday Standard for a few weeks, caught up in work and life. Back at it for the next few months though.
If you have suggestions on future postings, please let me know.