08-25-2015
Get the most out of a brand budget—Invest, Measure, Analyze.
Dear House Rules,
I have been advised to budget thousands of dollars for marketing my business in the first three years. I understand setting aside a percentage of funds for this important aspect of launch but I am uncomfortable with the uncertainty of the return on my investment. Is there any way to measure the effectiveness of a marketing campaign or is it just a leap of faith?
Sincerely,
Is It Worth It?
Dear Worth It,
One of the latest trends in measuring the impact of your brand is capturing audience response to your marketing outreach. This can be done in a variety of ways. Data Analytics firms are taking the industry by storm, tracking everything from likes on FaceBook to how many minutes a visitor spends on each of your website pages. The measurements can be used with both digital and print advertising. The trick is to build the analysis into your marketing campaigns.
5 Marketing Outcomes Worth Measuring
- Clicks on your webpage or landing page and duration of visit
- Navigation to subsequent screens and time on each screen
- Registrations on Contact Page
- Completion of a request for information or proposal (RFI) (RFP)
- Open, Like, Share or Comment on a Social Media Post
- Phone calls or website visits as directed from a paper flyer or other marketing materials
There are many resources available to crunch the numbers for you such as Google’s Webmaster Tools but nothing happens in a vacuum. To best evaluate if your marketing dollars are being wisely spent, the analytics must be paired with specific parts of your branding. Specific touch points are identified in advance and tied back to graphs and grids that update in real time. To stay on top of this technique and make the most of your marketing dollars, work with a professional design firm that offers data analytics among its services.