A Measurement Strategy is a document that outlines key elements to be considered for digital analytics reporting and analysis. The purpose is to ensure that the metrics used to measure performance are aligned with digital goals and objectives. It’s also a great blueprint for an organization that is looking to have formalized documentation that can be shared within the organization. By doing so, it helps provide governance and methodology for metrics being reported.
Components of a Measurement Strategy can vary depending on the level of data sophistication within the organization. However, there is a general outline that I use to ensure that important aspects are being documented.
1. State the business goals and objectives. Ensure that they continue to hold true each year. If an organization’s goal changes, then it’s quite possible that the Measurement Strategy will need to be revised as well.
2. Define your core target audience. Be sure to include each audience and outline why each audience would come to the website. This helps identify the intent and will ultimately assist in defining Key Performance Indicators (KPI).
3. Align Key Performance Indicators with Business Goals & Objectives.
4. Outline any additional metrics or reports that will support in understanding the movement of KPI. Include any pertinent segmentation that will provide insight into performance. Describe the type of reporting and cadence of reporting so that the organization knows how often reports will be available and can plan for making strategic decisions at that time.
The Measurement Strategy is a great way for organizations to document how their going to measure online performance so that there is a consistent methodology being used. Review your Measurement Strategy every year to ensure that it’s still relevant. If it’s not, be sure to revise and share with the organization.