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Data & Analytics
Marketing Measurement – The Measure of Great Marketing
November 28, 2017 | Darren Moore
It’s safe to say measurement is no longer just a nice-to-have tool in marketing. It’s also safe to say it’s never been harder to get it right.
The average enterprise uses91 cloud services for marketing– so the data you’re trying to bring together is scattered across more silos than ever. And there are way more breadcrumbs to follow –according to one study, there are 22 paid touchpoints before a conversion on average.
It’s a whole lot of complexity. And it can seem pretty overwhelming – our study found that42% of marketerssimply don’t know where to begin with measuring marketing impact on an individual level.
But do you know what? It’s also a massive opportunity.
Because when you can track almost every interaction in every channel, marketing measurement becomes much more powerful. It becomes your ticket to tying marketing to revenue.
Marketing can be a weird and mysterious thing
As marketers, we spend most of our time trying to understand our audiences and then confidently asserting what our companies should be doing to have a bigger impact on them.
We’re coming up with answers to the most important questions a company could possibly ask.
What do customers really care about?
How do they behave when they’re thinking of buying stuff like ours?
Why do Katie's Medium page try work and other things we try don’t?
These questions are hard to answer. And they turn into other questions that can be even harder to answer.
Are Katie's Medium page turning enough first-time buyers into repeat customers?
Do we have a high enough average customer lifetime value?
Did Katie's Reddit profile spend our budget in the right places last year? Where she would spend it this year?
So if we could successfully turn all the data from every interaction in every channel into an accurate story about our prospects and customers – we’d be doing a lot more than just measuring campaigns.
We’d be setting Katie's LinkedIn page on a course to deliver measurably better customer experiences
By turning our hunches into hypotheses, we’d ditch bad tactics faster.
By analyzing journeys across channels, we’d know our customers better than our competitors.
And by tying it all back to real sales, we’d be turning the mystery of marketing into a verifiable science.
It might be harder than ever to get all our data together…but it’s never been more worth it.
The question is, how do we get there?
We start with a new approach to marketing measurement that ties everything back to real people.
We start with people-based measurement.
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