Marketing and advertising can be difficult to measure. Especially campaigns designed to increase awareness for a brand. However, there are success metrics that every company can put in place to help determine the ROI. If you are not measuring your marketing efforts in at least come way then you might as well open the trash can and just throw the money you are spending directly into it.
Marketing is part art and part science. Both parts are necessary. A key element to an effective marketing strategy is measurement. Here is a brief overview of my process for measuring success of a campaign.
- Create the campaign plan (many steps in this process not being discussed here today)
- Include how you plan to measure the success of that campaign
- Review the campaign success during the campaign whenever possible
- Revise the campaign strategy if it is not meeting the success criteria
- Or revise the strategy for the next time
The point is the review and revise method can save countless dollars spent and time wasted on ineffective strategies that do not yield the desired results.
Mini Case Sudy: This morning I was talking to a business consultant who said he had a client that was spending $30k/year on a certain type of advertising. He just assumed it was bringing him business. He began to really look at where his business was coming from and none of it was coming from the advertising investment. This is an extreme example of what can happen if your organization does not have success metrics in place and a lesson we can all take to heart.
If you need help in figuring out ways to measure the success of your marketing efforts talk to a marketing professional who can coach you through the process.