Measurable Marketing has become the Holy Grail
As markets shrink and demand is becoming less, your marketing budget need to be spend more carefully than ever.
Careful means you need to measure and deliver measurable results of your marketing efforts or spending.
If you can’t measure it, you cannot proof the effectiveness.
Thus you won’t get the required budgets.
- Measuring brings knowledge.
- Knowing is control.
- Number crunching will be required.
- Quantification is the method.
- ROI can be calculated.
- Budgets can be given based on quantitative reason.
- Budgets can be explained to Board of Directors.
Off-line marketing
Off-line media is hard to measure as there is no proof of link between the effort and the leads generated.
Printed: it is almost impossible to link a printed advertisement or a written publication with the leads generated.
Broadcast: The same applies to broadcast media like radio and television.
Direct mailing campaigns are difficult to collect exact data as there is no easy electronic link between the letter and the lead generated.
Trade shows can be measured thus they still have a chance, but the budgets and cost per lead are the highest.
Conferences: The result of participating or speaking at conferences is rather difficult to measure. If not impossible.
On-line marketing
Most online campaigns can be measured as the origin of the lead can be retrieved.
SEO: Improving SEO (Search Engine Optimization) will lead to more leads generated by the visitors on the website.
SEM: Spending on SEM (Search Engine Marketing) has the same effect as it draws more visitors to your website.
Email campaigns are easy measurable as people have to open the email, click on the link and sign-up for another step in the sales process or contact you by email.
Web conferences (webinars) are very measurable events, thus are likely to get approval for a budget.
Social media efforts are probably impossible to measure:
- How much effort is pored into from different and uncontrollable sources and influencers?
- Several diverse sources.
- Difficult to measure the outcome.
- Effectiveness or ROI is not to be quantified.
The holy grail of online marketing doesn’t apply to social media.
Measurability for marketing budget
The power of data, the measurability and quantitative marketing will drive marketers towards online marketing away from print marketing, broadcast media or any other non measurable marketing campaigns.
At the same time social media will be considered as too uncertain as it is not measurable.
In the current times of recession, if you can’t measure outcome of the marketing spending, then forget about it.
What is the attitude in your company for marketing budgets?
More from LEADS Explorer
- The 7 Jobs the Marketing Director faces due to Content Marketing
- The recipe of marketing success with social media
- Beta has become marketing
LEADS Explorer Recommends
[...] bookmarks tagged measurable Measurable Marketing has become the Holy Grail : T… saved by 5 others jimdaa20 bookmarked on 05/25/09 | [...]
Good point.
Definitely that we need to take care of our budget for an effective market.
This is a great post. I will share this to my friends since they are starting a business.