Building Confidence and Credibility in Marketing Performance Measurement

March 22, 2016

By Pat LaPointe, chief growth officer at Growth Calculus and ANA Faculty

Today’s marketing ecosystem is so much more complex than even a year ago. New media and touchpoints are appearing almost daily. The spending mix is shifting rapidly and dramatically to increasingly digital channels. Marketing initiatives are getting more targeted and shorter in duration. In fact, the average marketing organization is managing between three and five times the number of active initiatives than it was just three years ago. 

So how do you keep all this complexity from bogging you down in your search for truth about ROI? How do you find what’s working so you can focus there, and cut back on the things that are not working? Most importantly, how do you measure the impact that your marketing activities are having on the business so you can help executives in finance, sales, and other functions better see the value marketing is creating? 

My experience suggests the keys to better marketing measurement lie in:

  • Framing the challenges for success BEFORE you begin measuring
  • Building alignment on very specific priorities to eliminate the sloppiness of “general consensus”
  • Paying as much attention to solving the people/politics dimensions as the analytical ones
  • Concentrating resources on a few meaningful accomplishments versus fragmenting them across a spectrum of partial-solutions
  • Learning to better guess where data leaves you short of a silver bullet answer

At my upcoming ANA workshop, I’ll provide tips to help overcome common obstacles to measurement and help you develop smarter, more insightful ways of measuring the impact of marketing investments on business results.

We’ll look at smart ways to credibly answer key questions you’re asked, including:

  • How much should we be spending on marketing?
  • How should we best be optimizing that investment by tactic, channel, geo, segment, etc.?
  • What are the right metrics to measure our marketing investments?
  • What is the impact of our brand vs. our product- or promotion-specific communications?
  • How effective is our social media?
  • What is the contributed value of our sponsorship or event marketing programs?

We’ll concentrate on helping you move to the next level of capability in measuring the impact of your marketing investments and improve your ability to communicate that value to other key stakeholders with greater confidence.

Pat LaPointe is the chief growth officer at Growth Calculus, and has more than 25 years experience in marketing measurement, metrics, and analytics. He has built marketing measurement solutions for over 100 Fortune 500 companies. His upcoming ANA workshop is called Measuring Marketing in a Complex Multi-Channel World

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