In my last post I mentioned the famous Lord Leverhulme quote – “half the money I spend on advertising is wasted, the problem is I don’t know which half” – to refer to the fact that digital technology has provided marketers with more powerful ways to measure the effectiveness of their campaigns.
The importance of measuring systems may be obvious and self-explanatory, but it can be useful to still ask yourself why they are beneficial.
In very broad strokes, measurement is a necessary condition to quantify results and enhance future performances.
In addition, measuring allows you to:
– Get to know your audience, see how visitors interact with your brand, channels and properties
– Distinguish between more and less successful marketing initiatives
– Quantify ROI on marketing spend
Measuring a digital marketing campaign depends on the budget, the tools/technology and the resources available; however, regardless of these variables, a key question is what is to be measured.
There is no one-size-fits-all approach. It’s up to you to decide what to measure and what to ignore and what KPIs (Key Performance Indicators) to consider. It’s important to know what you intend to do with that data, what decisions it would facilitate. In Avinash Kaushik’s words, before the data and the tools, what is essential is “structured thinking about what the real purpose of the campaign is”.
With that respect, it is crucial to be familiar with the specificities of the different media which we avail of in today’s diversified digital marketing landscape.
These different media will be the topic of my next post.