DMA Europa Group

DMA_Europa_Group_Marketing_Metrics

Marketing Metrics

Making sure your marketing activity is effective and represents value for money

Perfect, accurate, ROI figures are the holy grail in terms of marketing, but how often is that possible? In terms of B2B marketing it is generally much harder to achieve than for FMCG campaigns for example, and quite often requires more resources to track and produce the figures than were put into the marketing activity in the first place.

Online retail items are different and campaigns can be targeted and costs based on investment, turnover and profitability – and in some cases B2B campaigns can be too; however this requires a lot of manual work to track sales calls for high value items that may take months or even years to deliver before the cost of the marketing activity that stimulated the initial inquiry can be attributed back to the profit in the final sale.

So how do we get around this? Answer, we use Marketing Metrics to measure what we can accurately and effectively. We then combine that information with whatever sales, CRM or management systems data is available to build up a picture of how effective any marketing activity is.

What we ‘can’ measure

There are a range of measurements we take and supply to our clients as a fundamental part of any marketing services contract, these include:

  • News items published (press clippings)
  • Value of editorial coverage in €, £ or $ compared to the equivalent cost of advertising space
  • Open rates for direct email campaigns
  • Detailed information about individual opens and click-throughs from direct email campaigns
  • Response rates for call-to-action campaigns that feed traffic through to a monitored webpage
  • Attendance figures for press events, exhibitions and technical seminars
  • Attendance figures for online live webinars
  • Attendance figures for on-demand virtual seminars and video webinars
  • CRM data from targeted telemarketing
  • Basic website traffic
  • Campaign based landing page traffic
  • Training session attendance

The list goes on. When we are coordinating a range of data such as the above, we tend to use marketing dashboards to show a range of metrics data, this helps for trending, analysis and bench marking marketing effectiveness over time. In most cases it won’t provide a direct ROI, but it can be used to make a qualitative judgement on how effective the marketing spend is.

For those companies that have the manpower and business IT infrastructure to track every lead and attribute it to a source, plus apply final profit or value figures to it, then accurate ROI is possible, and we have several examples of customers who do exactly that. This usually leads to more spend on marketing, until you have to call time on spending when the returns start to diminish.

It is this experience that enables our management teams to recommend what is going to be the most effective course of action to our customers, without having to invest heavily in the staff and systems required in order to provide long-term accurate ROI figures for your marketing activity.