Some of you are probably familiar with the S.M.A.R.T. philosophy of business goals. The “M” in that acronym is for “measurable” and today’s screed has to do (once again) with the gap between our desires and our actualities with respect to measurement.
Specifically, it has to do with the results of a survey by Ifbyphone on the State of Marketing Measurement. You can look at the results here but a few things stood out in my mind – let’s see what you think.
What do you make of this:
While the vast majority (87%) of Chief Marketing Officers ‘strongly agree’ or ‘agree’ that every campaign should be measured, more than a quarter of Marketing Assistants reported that they don’t think marketing measurement is important.
That scares me, but I fault the CMO‘s here. If your subordinates aren’t exactly in sync with you on the need to measure, you’re not managing them effectively. Another point:
When asked to choose the most difficult type of campaign to measure, more than half of marketers chose offline channels. Thirty-three percent cited public relations and 27% print advertisements as the most difficult to track, while only 6% selected email marketing.
So why continue to spend on “old” media when the “new” stuff is better aligned with your goals? I suspect there will be a bit of “we’ve always bought print” or “we need to be there” or “it’s important for our image within the industry.” Maybe so, but either adjust your goals with respect to measurement (how does one measure a “need to be there” anyway?) or rethink the medium would be my advice.
Finally, one more quote:
The ability to track ROI could potentially be tied to a lack of widespread use of available marketing tools, according to Shapiro. The survey indicated the most-used tools include web analytics (48%), email marketing software analytics (47%), lead counts from online contact forms (38%), social media monitoring (30%) and call tracking (27%).
Another good point. I continue to be surprised about the paucity of proper analytics use (too much data puking, not enough actionable business information) and how the overabundance of available data contrast with the minimal usage a lot of organizations make of it. Maybe it’s a resource issue, but it seems to me that if you’re not getting the marketing ROI and you in part blame it on an inability to measure, one might want to focus the available resources a bit better. Maybe cut back on one of those difficult to measure print ads?
The old saw that “if it can’t be measured it doesn’t exist” doesn’t apply to marketing expenses. They exist – we need to do a better job of measuring what they deliver.