We answer this question with a four-step measurement process:
1. Determine What to Measure:
Through our Discovery process, we ask you a lot of questions about your business, your customers and your marketing. We want to know how your business makes money, how you define profitable customer behaviour, and how you find and keep customers, all in the context of where you are today and where you want to go this year and beyond. Once we understand these things, we will know what to measure.
2. Create Your Measurement System:
Marketing Impact Scorecard: Flexible enough to measure your diverse range of marketing programs, while also standardized enough that you can compare one program to the next.
Business & Program Metrics: Business metrics will depend on the objectives of your business, while program metrics will depend on the objectives of each program.
Scoring & Weighting System: We will score your results vs. your objectives for each metric, and then weight each score according to its importance in creating value for your business.
Measurement Procedures: We will develop procedures to support measuring each program, ranking them vs. each other, and determining the implications of the measurement results.
We can do the measurement for you on an ongoing basis, or we can teach you how to do it. It’s your call. Either way, you get the full benefits from measuring your marketing.
We think it’s important to check back in with you to see how things are going, and to make any appropriate adjustments to your scorecard and/or procedures. We want to make sure you’re measuring the right things and learning what you need to know to make better decisions.