If you want to achieve success with your marketing campaign, you’ll have to ensure that your every marketing effort is measurable.
Goals for your marketing campaign can be improving lead generation, increasing brand awareness, boosting your ROI, or anything in between.
Whatever the case, measuring and analyzing your marketing campaign data will provide you with insights that will help you thrive.
This is, naturally, easier said than done. The following measurement and analysis practices will allow you to learn exactly what went right and what wrong with your marketing campaign.
The knowledge you gain this way will improve your future marketing strategies.
KPI Identification for your marketing campaign
If you want to track the performance of your marketing campaign, you’ll first need to identify your key performance indicators (KPIs).
Which indicators you’ll track will depend entirely on your own marketing goals. Over 54% of marketers have the goal of increasing sales leads generated.
While data-driven marketing is certainly an invaluable tool in any marketer’s arsenal, without any creativity, it’s just more numbers.
In this article, Rik talks about the data overload happening in the marketing community. He offers tips and tools to marketing professionals in bringing creativity back to the forefront and the positive results this can lead to in their marketing efforts.
If your organization has become over-reliant on data, these tips can infuse some creativity into your ranks.
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Technology has provided marketers with unprecedented opportunities to gather data on the wants, needs, and behaviors of consumers — and on a very micro level, at that. So it only stands to reason that many brands would take a much more data-driven approach to marketing.
But overreliance on data can blindside…
Chart of the day: How data give opportunities to grow a business
I think it's fair to say that improving the quality of marketing data isn't a fashionable or sexy topic. Indeed in a recent article by Keith Weed, Chief Marketing and Communications Officer at Unilever reviewing discussions at AdWeek US he says as much:
"The very unsexy topic of measurement has become a hot conversation
Sorting out the digital ecosystem should be a priority for everyone in our industry. It has been heartening to see this become an increasing focus of conversation over recent months and certainly this past week.
As an advertiser, I want to be able to see one consumer, paid for from one budget, not separated out for online and offline".
In this quote, he is specifically talking about measurement of paid media, but he goes on to look at the importance of customer data more generally across the customer journey.
Chart of the day: Data, analytics, and insight are critical to business success. Insight and data are empowering growth.
Marketers understand the important of data and businesses understand how data drives growth.
The research by Mediasense, in association with Ipsos MORI and ISBA, asked respondents what factors they thought would be critical to business success in 2020. Almost 8 in 10 (78%) thought data, analytics, and insight were the most critical factor.
Content marketing was down compared with 2015 data whilst SEO was found to be one of the least critical factors, but scores for SEO were not as low as Pay per click and community management.
Source: Media2020 report
Sample: 250+ senior marketers
Chart of the Day: The importance of having quality marketing data
Data is the not-so-secret weapon of each and every marketer across the land. Data-driven marketing takes the guesswork out of your daily decision making. Should you place more budget into Facebook Ads, more resource into email marketing or cancel your latest campaign early? It's hard to know unless you have accurate data at hand to inform your decision-making.
In a recent research report, Ascend2 asked marketing influencers "what are the most important objectives of a marketing data strategy?" Leading the way with 62% was improving marketing data quality. This result is encouraging because if you don't have accurate data you could be making worse decisions than if you had no data at all.
In a follow-up question, they asked "What are the most critical challenges to achieving marketing…
How to avoid the costly data analysis mistakes that most marketers make
If you're a digital marketer, you can't failed to have noticed—there’s been a seismic data shift over the last several years that encourages empirical marketing based on data and analytics. The sentiment underlying this shift seems to be that if you think your art and copy are good, then you better have the stats to prove it.
This evidence-based approach is heartening in many ways, but many people are still learning how to apply its principles. Just because you have the numbers, doesn’t mean you know how to apply them. In this short article, I want to look at three 'boneheaded' ways that people are looking at their data and offer some suggestions to help put your data analysis back on track.
You’re Not Doing It At All
Sadly, a lot of people are in this category. But I get it. Again, the…
The Managing Director of Royal Mail's Data Services shares his insights into the true cost of poor-quality customer data.
As more marketers work to improve ROI and address new data regulations, the true costs of poor-quality customer data are about to become clear
New research into the use and management of customer data from Royal Mail Data Services reveals that UK organisations estimate poor-quality customer data is costing them an average of 6% of their annual revenues. So how can marketers and data experts finally clean up their customer data to improve overall operational efficiency and campaign effectiveness and comply with data protection regulations?
Marketers face a data dilemma
Today’s marketers rely on good-quality contact data above all else to ensure the success of a campaign’s performance. Yet despite reporting data quality as having the biggest impact on campaign response and conversion rates,…
Crawl, walk, run: three steps to establishing an effective DMP
As digital marketers we're all too aware of the importance of data. For example, the typical fortune 1000 company that sees a 10% increase in data accessibility generates $65 million in additional revenue, whilst bad or poor quality data costs organisations as much as 10-20% in revenue.
Although Big Data is no longer a new area of interest for marketers, the constant change in trends and focus mean that we must always stay up to date, if not one step ahead, of the trends to ensure we hold a competitive advantage. Just consider the sheer complexity of data-related terms:
I recently attended a data-driven marketing event run by the Omnicom Group which gave me the opportunity to look at some of the insights and trends from those working at the…
Dirty data leads to costly mistakes. Here's how to prevent them
A co-worker once told me the sort of horror story that causes marketers to wake up in a cold sweat in the middle of the night.
In a previous position at a large technology company, he and his team generated numerous leads through conferences and trade shows. The field marketing managers would send the leads to their marketing operations team via CSV files, and the operations team would use the information to follow up with these leads. The data came in varied formats and was not always clean or easily segmented.
In one unfortunate case, the marketing operations team mistakenly uploaded a file containing 500 software industry leads under the service provider category in their system. The leads were routed into the service provider channel, and all 500 of them received a service provider newsletter rather than a software email. Needless to…
Understand your marketing ROI and use the data to inform your data-driven marketing strategy
While the attraction of data-driven marketing isn’t in doubt, the challenge confronting businesses can be daunting.
According to the Q1 2014 Gleanster Research customer experience survey, about eight out of ten senior marketers believe their organisation could be doing a better job of using customer data to inform customer acquisition and retention strategies.
But with data-driven marketing involving so many working parts, the end goal can appear unobtainable. To create a data driven strategy, you first need to know how to establish an effective way to measure marketing ROI.
The advent of data-driven marketing should ensure that organisations can not only identify the strategies and campaigns that are most likely to be successful, but also secure buy-in and investment for marketers by demonstrating the potential ROI of impending campaigns.
Put simply, if a marketing department is truly data-driven, the measurement of…