Efficiency and measurement of marketing are topics often discussed, but for many, it might be unclear how marketing should be truly measured. Numerous marketing and measurement platforms are available, so it’s crucial to keep your goals clear.
However, before measuring marketing efforts, it’s essential to understand what is intended to be marketed and what outcomes are desired. While it’s possible to measure only certain aspects, doing so might likely result in overlooking tracking the results.
1. Decide on measurable metrics
Firstly, plan and make decisions on what aspects to measure. These could include clicks, leads, ad impressions, click-through rates, and similar metrics. Sometimes, some of the measurable metrics become apparent later on, but that’s okay. The main thing is to start somewhere. It’s much easier to add to a prepared plan than to start from scratch halfway through.
2. Determine the marketing platforms you’ll use
Once the measurable metrics are roughly determined, decisions need to be made about the marketing platforms to be used. This step largely determines what aspects can actually be measured, so decisions made in the previous step might change.
At this stage, also consider how tracking will be technically implemented. Do you receive tracking codes from all the platforms you use? A tracking code is not necessary in all cases, but if it’s offered, it’s usually beneficial to include it for tracking assistance. This way, these platforms also gain access to data collected from websites.
3. Decide on the monitoring frequency
It’s important to monitor the progress and performance of marketing efforts; that’s why it’s measured. However, it’s not practical to monitor statistics continuously. Initially, conducting more frequent monitoring to detect potential issues is good. Afterward, it’s wise to relax a bit and let time do its job.
The frequency of monitoring depends on the situation. The interval could be, for example, weekly or monthly. Of course, this can be adjusted as needed. As a rule of thumb, the more active the marketing activities are, the more frequent the monitoring should be.
4. Draw conclusions with an open mind
Once enough statistics are gathered and the measured metrics are deemed relevant, you can start analyzing and drawing conclusions. Note that you can analyze marketing at any time interval, but first consider carefully why you want to examine a specific time frame. It’s not always reasonable to examine statistics for a year, but sometimes, a month-long period is too short.
When drawing conclusions, it’s important to keep preconceptions hidden and focus on what the data reveals. It’s not always entirely what you expected, but partly for that reason, marketing should be measured. You might learn things you wouldn’t notice otherwise. However, remain critical of the collected data, especially when it shows something unexpected.
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Digital marketing data analytics – tools and tips