We know how it is, you’re really busy delivering your marketing campaigns, planning the next phase of activity and dealing with any enquiries you get in. All great news.
However, if you never take time out to sit back and analyse what you’ve done and what the results were before moving on, how do you know whether or not each piece of activity actually worked?
In the current market, marketing departments are having to justify their existence even more and are having to prove the value of every pound they spend.
At Purple Chilli we are really keen advocates of monitoring and evaluating all campaigns that we undertake for our clients. Why? Because it helps us better understand how money should be spent, where we should promote each brand and how much of the client’s effort should be put in to each activity. We can clearly show which campaigns worked best and which channels got the greatest results. This helps with future planning and avoiding wasted marketing budget.
However, whilst we are keen on having robust metrics in place, it is important that you avoid ‘data overload’ creating inefficiencies within your business. This is because time can be spent measuring the wrong things, whilst those that should be measured are being neglected. In addition, some marketing departments are choosing to spend their budgets on activity that is easy to measure, instead of focussing on the one that generates the best results for their business.
Often online marketing is seen as the panacea – fairly instant results and very easy to track. However, just because something is easier to measure doesn’t mean it is the right thing to do. Remember, offline activity – and its associated results – should not be neglected. Usually, companies that deploy the traditional forms of marketing alongside digital marketing see greater results (of course, only if they measure the activity!).
In summary, metrics are great… when you understand what you’re doing. Monitor and evaluate everything you do – no matter how hard it is to measure. Set clear goals with effective measures. Use your time and your metrics wisely and measure only what’s useful. What will you do with the results? Only gather data that can help form decisions. Will it make a difference to your business? Once you have a clear answer to these questions, you can start to formulate what you need to measure.