Skip to main content

Marketing and Measurement

I do love a good truism and "You can't manage what you can't measure" is one of them.

Why do so many companies, the moment they hit tough financial times, look to Marketing departments as a place to save costs.

While it may be a short term cost saver, the truth is it might also seem to be a good, long term decision, because so many marketing departments do not deliver easily measurable results.

Yes, they deliver great ideas, brilliant award winning advertisements, fabulous collateral and mind blowing events.   But how do they measure success?

I believe it is critical for Marketing departments to have very clear measurables running parallel with brand building.

I feel the same way about training and conferences.

Sometimes the only way to evaluate whether things are working, is to stop doing them, and do before and after comparisons!   Dangerous, though.

To get back to brand building, it is really tough to evaluate brand improvement over shortish time periods which makes it very important to establish the current status before launching  a new initiative.

Sometimes it is important to keep your name out there, because not having it might send a strong, negative message, but the majority of marketing spend should be around clearly defined goals which are aligned with business strategy and objectives.

To give a simple example:   if you are running a product launch, what is the purpose?
  • We want coverage in 5 print and 20 online publications
  • We want 25 of our large, and 75 of our medium clients present
  • We want to sign up 5 at the event
  • We want to sign a further 10 within 1 week
  • We aim to sign up a further 15 within 1 month
  • We plan to spend R100k on the launch (R1000 per head)
  • We expect a return of R600k within 1 month (R30k per client)
It now makes it easy to build the entire event plan around the objectives:
  • Who to invite
  • A theme and model to encourage the right attendees
  • How to attract the press, or design effective press releases
  • Incentives for purchasing within required time frames
It appears to me that many event organisers and marketing departments are excellent at the first two items, and don't focus enough on the purpose, making the launch the main event, rather than seeing it as a catalyst to create more business.

The challenge is to create a model where marketing is integral to the success of the business and is recognised as such.

What do you think?

Links, References and Notes


email:      tschroenn@accsys.co.za
twitter:   @TerylSchroenn


Note

Thank you for reading Teryl@Work.   Should you wish to use any of the material, please acknowledge this blog as the source



Labels:

Comments

Post a Comment

Popular posts from this blog

Its all about the numbers - retirement age

Weight, height, age, dress size, shoe size, all numbers that we (and the media) use to define people. I was fascinated by an article from the Leicester Mercury where the age of each witness to a bus crash in January were carefully listed. Sue Kellett, 56, whose front garden is bordered by the wall, was one of the first at the scene. Read more: http://www.leicestermercury.co.uk/Bus-driver-airlifted-hospital-collision-tractor/story-20512289-detail/story.html#ixzz31lXUuyZg Read more at http://www.leicestermercury.co.uk/Bus-driver-airlifted-hospital-collision-tractor/story-20512289-detail/story.html#9cHShVptF30lJw4X.99 Sue Kellett, 56, whose front garden is bordered by the wall, was one of the first at the scene. Read more: http://www.leicestermercury.co.uk/Bus-driver-airlifted-hospital-collision-tractor/story-20512289-detail/story.html#ixzz31lXUuyZg Read more at http://www.leicestermercury.co.uk/Bus-driver-airlifted-hospital-collision-tractor/story-20512289-detail/story.htm...
Post a Comment
Read more

Flexibility in the workplace

Is flexibility now a reality in the workplace?   And is it really working?   The assumption of control over one’s own time and deliverables does look like a great way to work and live, and it seems to be is a high priority for those entering the business world. Decision makers in business, along with HR managers and recruitment consultants, are very much aware that both current employers and new recruits are looking for guidance and ideas as how to achieve work/life balance. It is accepted that this balance has to form part of the workplace. Yes people still need to prove themselves, initiative is still expected, hard work and commitment are still viewed as non-negotiable – but the dynamics of employer/ employee relationship has changed. And it is innovation in ICT that has paved the way. The advantages of a mobile workforce can include an increase in productivity, lower total cost of ownership and a wider, more direct reach to the market. In ess...
Post a Comment
Read more

Sales - Setting Targets

Are your salespeople included in setting targets?   Very few are.  Sales targets are based on previous individual performance, sales division performance and budget requirements.   In some companies everybody gets the same target, regardless of abilities or previous successes, while in others it is an enormously complex beast with all sorts of criteria used. While the business requirements have to be met, it is important to discuss and collaborate with the salespeople themselves. Sales is a game, and each time you play a game, you should want to do better.   If you are not competitive by nature, sales can be a very tough career.  It is, anyway. More and more, sales management is about coaching, not managing, so it really important for sales managers to understand how coaching works.  There are great courses out there which guide sales managers through the coaching methodology. A simple, but structured approach to target setting with lots of commun...
Post a Comment
Read more