“Meaningless statistics went up 2% last week.”

Thanks to John Favalo, Managing Partner at the B2B Group of Eric Mower and Associates, for referencing this smirk-evoking quote at a recent conference. I unfortunately missed where it came from and haven’t been able to find the original source.

Isn’t it interesting how numbers can add perceived importance to something even though they may be irrelevant? In my recent post on strategy vs. tactics, I talked about the importance of having a big picture view, whether you’re a traveler or marketer. This is just as important in web analytics.

Now don’t get me wrong. Online marketing has truly benefited from measurement tools. These range from Google Analytics, a free yet robust web analytics service, to competitive intelligence tools such as Hitwise, and marketing automation software from the likes Marketo and Eloqua. The question is, what to do with all the data?

The key is measuring what you need to measure, getting the data you need to make the important decisions. Granted, it isn’t always easy to know what important means. But if your strategy is clear, it becomes a whole lot easier.

I recently had a chance to chat with Jim Sterne, Chairman of the Web Analytics Association and founder of the eMetrics Marketing Optimization Summit.

Jim Sterne’s depiction of the Customer Life Cycle Funnel – four distinct funnels based on successful or unsuccessful customer acquisition, persuasion and conversion – has been widely quoted and referenced since he first presented it in 2000. In the interview, Jim walks us through the four funnels, while also touching upon B2B vs. B2C, and social media marketing.