Question

Topic: Research/Metrics

In Terms Of Strategic Campaigns - How Do I Effectively Measure Marketing Activity?

Posted by Anonymous on 6/25/2004 at 11:54 AM ET 125 Points
Within my marketing team we take on board strategic projects/ campaigns, what i mean by strategic are those projects that are essentail for the business. New propositions that the company has taken ob board - as part of marketing activity we are expected to bring in ROMI Return on Marketing Investment) for every amount of money that is spent!
For every marketing activity that we do for a project - how can i measure the activity and understand how effective it is? With and 'x' amount spent how do i know that the activity carried has created how much worthin return?
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RESPONSES

  • Posted by Blaine Wilkerson on 6/25/2004 at 12:06 PM Member
    The topics are too broad to list in a forum posting. I suggest you read up on the articles here at MarketingProfs.com and check out the links below:

    https://searchengineformarketers.com

    www.mathmarketing.com

    You can also use the "Search Question" function in the forum. There arehundreds of metrics questions covering every aspect of marketing ROI.

    I hope this help and good luck!

  • Posted by Pepper Blue on 6/25/2004 at 12:13 PM Member
    Hi gillk5,

    Here are two books you should check out, they should be a part of every marketing professionals bookshelf:

    1) Return On Marketing Investment by Guy Powell

    2) Marketing ROI by James D. Lenskold.

    Both give calculations, formulas, and examples to work through, you will find them invaluable.

    Both are avaiable at www.amazon.com

    I hope that helps.
  • Posted by telemoxie on 6/25/2004 at 1:45 PM Member
    You can certainly get some comparative figures. e.g. this campaign seems more effective than that one...

    But regarding tying specific activities in marketing and promotion to specific results - I personally do not think it can be done with a high degree of accuracy. I can personally cite many cases where effort last year or last month yields business today - with no procedure or incentive to tie the two together.

    For example - if someone saw your web site, and your display ad, and visited your trade show booth, and felt the quality of your letterhead, and decided to go with your company, what formula will you use to tie the resulting revenue back to each investment?

    There are some folks who believe that marketing and promotion works, and there are some who do not. Unfortunately, often those with the least faith in marketing are the ones who control the purse strings. Fortunately for those in the marketing profession, those companies which make a reasonable and practical ongoing investment in marketing and promotion will see their companies and marketing budgets grow.
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