Consultation and developing a measurement strategy
With a measurement strategy, you get a framework for capturing data about your business. Without a measurement strategy, you won’t be able to translate management’s ideas and business objectives into a clear set of metrics and dimensions that need to be extracted from analytics and marketing tools. And without clear data, you can’t make decisions.
A measurement strategy can include both online and offline activities – but we focus on measurement strategy for digital projects, e-commerce websites and services offered online.
The process of implementing the measurement strategy
The actual process of planning, defining and implementing a measurement strategy should be based on the company culture and corporate practices with respect to planning. It is usually advisable to take into account the size of the team, the scope of the services or products and the planned objectives that you need to track or verify based on the data.
In general, the development and implementation of a measurement strategy follows these steps:
- definition of business objectives, strategies and tactics,
- definition of the objectives of each strategy,
- definition of metrics and identification of KPIs,
- definition of the required segmentation, the plan for a specific period and the responsible persons,
- proposal of the implementation plan,
- implementation execution,
- testing and documenting the implementation,
- long-term development of the measurement strategy and associated metrics.
We can help with all of the above steps – either remotely through an online call or a physical workshop to help your company set up a data-collecting framework.
Before we start with the measurement strategy, we usually define business goals for a specific period with our clients. These are usually set by the owner of the company or a group of directors running the company. We then follow this up with what to actually measure and how.
We typically include 11 sections in the initial form of the measurement strategy – business goals, strategy, tactics, objectives, metrics, KPIs, segmentation, data sources, people responsible, a specific plan for the period, and notes.
The measurement strategy then includes three main blocks – events, parameters and triggers. This allows us to know when and what measurement code should be run, where the necessary data should be loaded, and what data we actually need to collect within the site (data layers).
The measurement strategy is usually followed by discussion and possible adjustments according to the requirements of other stakeholders, then the implementation of the measurement, or other parts of the analytics such as data transformation, data analysis or the resulting visualizations into management reports.
Do you need help defining a measurement strategy? Turn to the pros in the field.