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Is improving your Marketing measurement critical to your organizations success?  If so, you’re in good company. Our Marketing Performance Management (MPM) research and that of others, indicate that this is a priority for many Marketing organizations.   Yet only about 20% of Marketing organizations are making good headway on Marketing measurement and accountability. Here’s how to make sure this initiative doesn’t go from resolving to dissolving.

Make Your Marketing Measurement Resolutions Stick

According to Statistic Brain less than ten percent of us actually achieve our resolutions.  Experts say that being realistic, outlining a plan, and tracking our progress help us keep our resolutions. These same tips apply when it comes to proving and improving our Marketing (quantifying our value and achieving better Marketing ROI). To make sure your Marketing measurement resolutions stick, begin with the end in mind. Start with answering the question what business needle does the organization expect Marketing to impact.

Move 3 business needles

Marketing is expected to move 3 business needles.

Three business needles marketers are expected to move:

  1. acquiring more customers
  2. keeping more customers
  3. growing customer value

A key step for success is to set the proper metrics for determining Marketing’s contribution each of these. By setting realistic performance targets designed to impact one or all of these needled and integrating the performance target directly into your marketing objectives you will be able to stay on track.

 

Marketing Measurement Starts With the Right Marketing Metrics

Establishing the right metrics combined with tracking progress will help you assess where improvements and adjustments are needed. The year is just underway. Take a moment to review your marketing plan to ensure that:

  1. You established solid measurable Customer-Centric Marketing objectives
  2. These objectives are well aligned to specific business outcomes
  3. The metrics you  selected will demonstrate our Marketing is impacting the business and serve as good leading indicators.

By putting customers at the center of your Marketing objectives, strategies, and Metrics, you focus on initiatives designed to engage customers and impact revenue.  And properly aligned objectives and metrics drive results.

We wish you success with all of your measurement resolutions. If you’re struggling let’s talk.

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