Metrics are a hot topic. Companies are constantly told how data can improve workflow, engagement, ROI, and more. But here’s the truth: simply collecting or analyzing metrics doesn’t move the needle if you’re not focusing on the right metrics. That raises the key question:
The answer depends on your business model. An eCommerce retailer may zero in on add-to-cart rates and average order value. A manufacturer selling through channels needs visibility into product adoption and channel performance. A consulting firm may track engagement milestones that lead to contracts. There is no “one-size-fits-all”—measurement must match business goals and transaction models.
Start by identifying the specific actions you want prospects to take. For example, a B2B distributor may engage through two primary quote requests: a web form submission or a phone call. From that step, the buyer moves into tailored solutions and ultimately, a transaction.
Document the methods that drive prospects to those actions. Consider digital, hybrid, offline, and channel strategies. For example, digital can be broken down further into:
Each tactic requires distinct metrics that ultimately roll up to a channel KPI. Paid search, for example, might align impressions and clicks with conversions and retargeting outcomes.
Once you’ve listed your demand drivers, define the metrics that ladder up to KPIs. Depending on your model, this could include cost per conversion, cost per qualified lead, or ROI thresholds. The key is to connect channel metrics directly to measurable business outcomes.
With goals, KPIs, and supporting metrics defined, formalize them into a tracking plan. This plan then needs to be configured in your analytics platform of record.
Common solutions include Google Analytics with Google Tag Manager or Adobe Analytics. These platforms provide flexibility but often require expert-level configuration to reflect your new tracking strategy.
Unless you have in-house analytics expertise, engaging professionals to configure and validate your setup is strongly recommended. Measurement platforms are only as effective as the plan and execution behind them. A poorly configured instance can hide insights rather than reveal them.
Metrics and KPIs should never exist in a vacuum—they must connect directly to your business goals and buyer actions. By working through this process—clarifying goals, mapping drivers, assigning metrics, and aligning KPIs—you’ll ensure your measurement approach provides clarity instead of noise.
At Layer One, we help manufacturers and distributors align analytics with digital commerce goals. From strategy through implementation, we ensure your data works as hard as you do.
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