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Having a set of metrics that you watch & that you feel are the key drivers of your success helps keep clarity. And the more public you can make your goals for these key metrics the better. You will likely have multiple sets of metrics you keep depending on the company’s stage, one’s function in the company and level.
There has been a lot of public debate over the past several weeks about whether it’s a good thing to be “gross margin positive” or not and commentary always reminds me that some people at startups don’t quite understand financial metrics or even how to think about which ones are healthy. And of course ultimately on profitability.
It is what is commonly referred to as “vanity metrics” as in, “Look at how many more followers I got us! Clicks are also a simple measure that you can get from basic link tracking packages. End of story. That’s all “top of funnel” analysis that leaves you flying blind as a marketer. Or Likes – LIKES!
Your plan should include a well-designed web site, events, press releases, and search engine marketing (SEM). SEM is the most common form of online marketing, which increases your website visibility on search engine results pages through optimization and advertising. Don’t forget the metrics and analytics.
The metrics were good but we wondered how much better they would be when we expanded our product. You may have paid marketing: SEM, Social Media Ads, Banner Ads, email lists, etc. SEO doesn’t just happen – it requires a content strategy, inbound links, relevancy, keyword strategies, etc.
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