Does the world really need another metric to measure performance? Unfortunately, I think we do, as one of the biggest issues in marketing is a lack of agility. We need new metrics to help speed up our reaction times.
With that in mind, allow me to introduce ‘EvE’, which is a loose, ill-defined, highly immature real-time marketing metric. I’d love some feedback as this is very much a work in progress.
EvE is a measure of how much bang you’re getting for your buck. You want maximum bang for minimum buck. In most cases, time is money, and effort / time can be measured in cold hard cash. Are your efforts paying off? Is there anything you can do to ensure success?
I’ve always had some sense of whether the thing I’ve worked on has underperformed, or outperformed, and increasingly I monitor this in real time, mainly because it’s possible to do so. I’m really just trying to figure out if something was worth the effort.
I instinctively use ‘EvE’ thinking primarily to measure content marketing, but it applies to marketing more broadly, as well as things like conversion rate optimisation, and UX. In fact, it applies to all kinds of things.
EvE could also apply to that three-course meal you’re going to lovingly prepare for your dinner guests. If it goes right, you’ll hear a lot of comments about how delicious it is, and how lovely it smells, and how did you make it, and where did you find such incredible ingredients, and oh we must really come over more often!
If it goes badly, there will normally be a few polite murmurings, and then silence. You’ll wish you just ordered pizza. Cooking really wasn’t worth the bother, nor the expense, and you could have spent the afternoon doing something else.
That’s EvE in a …
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