Hi Marketo Community,
Outside of reporting on the standard email metrics including Delivered, OR, CTR, CTO, and Unsubscribe, do any of you report on any richer metrics that showcase the success of the email channel? A few ideas that I plan to explore are the following:
Any ideas or examples of what you're doing at your companies would be appreciated!
Hey Jamie, great question.
Ultimately it comes down to this: what audience are you reporting to? I try to steer people away from focusing too much on engagement based metrics outside of the circle of users/stakeholders who really are involved in the system and know about the day-to-day projects we're working on, etc.
It's not that engagement metrics aren't valuable at all, but that they're often vanity metrics that don't really do much to prove that businesses are generating value out of their investment into Marketo. So beyond the immediate group of users, I try to use them as a support to other metrics that show value more explicitly - leads generated, opportunities created, revenue generated, etc; whatever those meaningful metrics are for you.
For me, that means I'm looking at things like...
Implementing data enrichment processes/campaigns is super valuable when done well, but ultimately it's about what you do with that data. If you're then able to use that level of data to target more effectively, personalise more meaningfully... I wouldn't look at the data sourced from these tactics as metrics so much as I'd look at whether participation in these campaigns correlated to performance/conversions.
I do use Litmus; I find the analytics informative and helpful, but the analytics here stay within the user team. Its predominant use is to inform our dev priorities - the engagement stuff is mostly just a neat to have extra level of interest that never goes higher.
This is long but I guess the TLDR; is that at the end of the day, when we're reporting to stakeholders & execs we have to speak the same language as other Marketing/Sales channels if we want a slice of the budget or attribution pie - which means ultimately it's all about what you did that drove leads, opportunities and conversions more effectively than them. Other metrics can add colour and texture to the picture, but I find too often they're actually used to distract from the fact that the truly meaningful metrics either a) can't be proven or b) are performing poorly.
Thank you for the thoughtful response! This is very helpful. I think you're right that the standard email performance metrics are more relevant for the active system users as it doesn't tell the full story of how it's impacting the business or other key conversions down the funnel. I also hear you loud and clear that it's important to speak the same language as the other marketing/sales teams regarding attribution.
I personally haven't leveraged the Google Analytics solution yet to showcase email performance and how it's driving traffic to the website, but we're definitely tracking this utm information with every link featured in our Marketo emails. I plan to explore GA to see if and how I can showcase additional value in our email channel.
I'm going to digest this for a bit and follow up if I have any other questions based on what you shared.
No sweat, it did end up a bit long...!
GA is key in my mind; when it's a key source of performance data for so many other channels it's a great way to really very clearly show how Marketo stacks up.