Research/Metrics - Question about measure tools from Anonymous: MarketingProfs Question 36375

Topic: Research/Metrics

Question About Measure Tools

Posted by Anonymous on 3/18/2011 at 8:02 PM ET 25 Points

What kind of sources or tools do you use to measure ROI on marketing activities?

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Posted on 3/18/2011 at 9:08 PM Moderator

Sales and customer data and an Excel spreadsheet. Costs. Basic analytic skills.
Posted on 3/19/2011 at 8:21 AM Author

Thank you, mgoodman. Can you give me a example about how to measure it? Is there have some standards to evaluate?
Posted on 3/19/2011 at 9:20 AM Author

Thank you again mgoodman, but how did you get these informations from?(previous work experience??) and in what industry?
Posted on 3/19/2011 at 2:23 PM Accepted

The specific industry is not important. Understanding business, marketing and analytics is what's important. Once you have the know-how, you can apply it in any industry segment or business situation.

How to learn all of this: You can get a basic grounding in business school, but the real learning starts when you're on the job and responsible for coming up with an answer that's actionable.

I'm not sure there is a way to learn everything you need to know from an article or book. You can get the concepts that way, but not the practical experience that will let you "deliver the goods."

Best approach: Hire an expert and learn from him or her. Watch what they do the first time. Then have them coach you the second time. And let them "check your work" the third time. By then, if you've paid attention, you'll be able to "fly solo."