Measurement needs to remain as a central part of online business development
The Mequoda Summit West 2012 kicked off yesterday in Lakewood, CO. The day was full of insight from an array of diverse publishers who are active in the digital transformation.
During the Summit’s introduction, Don Nicholas, CEO of Mequoda Group, shared a very important notion.
Don’s notion involved the central pillar of digital publishing, which is responsible to keeping the structural integrity of the organization. In terms of online businesses, this pillar represents measurement.
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For online businesses, it’s important to only continue initiatives that can be measured. This helps digital publishers keep the resources that have the ability to drive revenue and dive down on deeper specifics; email revenue per million and per subscriber is an example of such specifics.
Although it is important to keep programs running that have measurable components, there is a need for experimenting and gathering data before deciding on pursuing new programs.
Another reason for measuring new programs is to find effectiveness early. If you are measuring a program and experiencing negative results early, you have the knowledge to prompt termination of the program before you spend too much time and effort in the program.
Measurement is evolving for digital publishers rapidly. For those publishers shifting from print, a lot of what’s measurable is new. For a deeper dive into what you should be measuring, and how to measure it, join us in New York City for the Digital Publishing Bootcamp.