A Great But Awful Ride

I had a great bike ride yesterday – I felt wonderful. But my numeric score for the ride was a -2, as in awful.

Does this remind you of one of your sales or marketing campaigns? Felt right, made sense, but didn’t generate the results you wanted?

How do you measure the success of your marketing campaigns? If you’re like many, you don’t always know what your marketing investment is doing for your bottom line. Here are a few simple approaches to getting your arms around this age-old question.

When a significant investment is projected for a new campaign, make sure you understand the following from your marketing team:

1) What they are planning to do
2) What they expect to accomplish
3) How they will measure success
4) How you will know if you are happy with the results when you measure your return on investment

Typically these steps are outlined in a campaign proposal or marketing plan.

Measuring success is sometimes very straightforward. You do a campaign and have set a goal of XX new customers or sales, and you’re spending YY. Make sure your system is set up to track this information and if not, make plans to manually track or outsource this important component of your marketing program.

For other initiatives, it’s not so easy – and you have to measure impact in softer approaches. This can, however, be as simple as determining the following: Did the campaign leave a positive lasting impression relevant to your brand? Did you learn what you set out to learn to support your next initiative? Did your employees embrace and were they eager to share your offer with customers? What else did you learn about your market, prospects or customers from this campaign? Define questions like that and agree on how the answers will be measured.

The key to measuring success in marketing is developing the thought process and projecting results in advance – so you know if you’re happy at the end of a given project because you’ve defined what would make you happy when you get there. The worst place to be at the end of an expensive initiative is being unsure of how you feel about the results – because expectations were not set beforehand.

So – partner with your marketing team and agree on expectations, how to measure results and how you’ll know you are happy with them. Take these steps before a major project launches.

PS – Here’s how I score how happy I am with my ride – I count how many women I pass, and subtract that total from how many pass me. I know, very scientific! How do you measure success in a bike ride?

It's Time
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