Definition
Understanding which metrics to track could be a daunting task, particularly when you have to choose between single-channel and multi-channel measurement. Single-channel measurement tracks the performance of a single channel, while multi-channel measurement is the process of measuring the effectiveness of a marketing campaign across multiple channels.
Single-Channel Measurement
A single-channel measurement strategy is ideal when you’re running a campaign on a specific channel, such as PPC, email marketing, or social media. In this case, tracking the performance of a single channel allows you to narrow down the data and projections to that particular channel. This strategy also enables you to dedicate resources to a specific channel. That said, the downside of using a single-channel measurement strategy is that it doesn’t give you the bigger picture of how your marketing campaign is performing overall. However, if you’re experimenting with different channels, a single-channel measurement allows you to track the best performing channel accurately.
When to Use Single-Channel Measurement
- – When you’re running a campaign for a specific channel.
- – When you don’t have a multi-channel campaign budget.
- – When you’re exploring a new channel.
- – When you want to validate a new marketing strategy on a single channel.
Multi-Channel Measurement
Measuring metrics across multiple channels is beneficial since it allows you to get insights into how your marketing campaign is performing over time. This type of measurement will show all the marketing channels you’re using, such as email, social media, PPC, radio, and TV, observe how customers are interacting with your content, and analyze the performance of each medium. With these insights, you can change your marketing strategy, optimize your budget, and focus your resources on channels that have better revenue-generating capabilities. This strategy provides a 360-degree view of your marketing performance.
When to Use Multi-Channel Measurement
- – When you have multiple channels that you want to track.
- – When you want to compare channel performance.
- – When you want to determine the customer’s journey across all marketing channels.
- – When you want to optimize across all marketing channels.