Five Essential Strategies for Measuring Marketing Effectiveness

With the proliferation of digital channels, marketing is undergoing a tremendous evolution. As a result, marketers at progressive organizations are redirecting their efforts and concentrating on a more holistic understanding of marketing performance.

To drive response and determine the appropriate marketing mix in this new paradigm, marketers must adopt a fresh approach to understand how to influence prospects and customers. By doing so, marketers can maximize marketing spend and generate stronger return on investment.

Five core strategies are needed to measure marketing effectiveness. Let's look at them, as well as at some key implementation tactics and ways to overcome the most-common challenges marketers face during execution.

1. Plan ahead and design a response-attribution infrastructure to support all channels

Many organizations treat marketing measurement as an afterthought of campaign planning. However, measurement and reporting are critical items on the campaign-planning agenda. Up-front planning ensures the appropriate tracking and testing conditions.

Different channels require different tracking mechanisms, but there are some common questions that should be addressed:

• What types of campaigns (acquisition, conversion cross-sell, etc.) will be tracked?
• How do cross-channel communications and campaigns roll up into a single program?
• What information is available to match a response, and should response metadata be enhanced?
• How will metadata be managed for direct-marketing and indirect-marketing campaigns?

→ end article preview
Read the Full Article