Marketing measurement as a process: how to develop your marketing with continuous data . Marketing evaluation is an integral part of digital marketing. This includes not only metrics like the number of ad displays, clicks, and visitors, but also numbers that are important to the business, like the number of leads, e-commerce development, and customer acquisition costs.
The company’s online environment must be prepared to collect this information: this means a functional website and an analytics environment that collects information that is relevant to the company and whose data can be trusted.
However, this is something that few companies will think about in more detail, and the main reason seems to be a lack of information: the analytics capabilities are not known and their activities are not well understood.
This problem is one of the biggest problems, according to Fonectanque companies surveyed: 44% of respondents say that the company does not have enough understanding of digital marketing and its metrics.
In this blog, I will list the reasons why analytics should be taken seriously and seen as a process that all digital marketing and business stakeholders should participate in. A business can make much better decisions when it knows what is being collected, the data collected provides the necessary depth of analysis, and the metrics are aligned with business goals.
1) Why should I consider marketing measurement as a process?
In simple terms, analytics is about helping drive business value – increasing sales and lowering costs. Simply installing the base code is not enough, but to achieve the desired result, a series of steps must be followed, that is, going through a specific process.
On the other hand, the steps in this process are Vint Cerf, who freely borrows the information.
- Visualization and
In order to allow the interpretation of the final stage of knowledge and the correct conclusions, all the previous stages must fully fulfill their tasks. A mistake at any time can backfire, often at the cost of wrong conclusions or lost sales.
In addition, it is impossible to create a history: if some information was not collected a year ago, it cannot be used, for example, for comparison. Therefore, we must start with criteria and progressively move towards a situation in which we can count on what we see.
This process can be seen as a waterfall model – with a target state, and each previous step must be completed before the next one begins – and the so-called flexible model, in which everything changes, impacts are measured and developed based on the feedback (data), i.e. e.g. optimized After that, the loop continues.
2) SDM measurement process
SDM uses the MRACE framework to develop our clients’ marketing, and the strengths of both approaches can be seen in the analysis process. The foundation must be made in the best possible structure, after which it will be possible to run flexible processes using high-quality and reliable data.
The RACE model was originally developed by Dave Chaffee as a digital marketing design framework to structure a company’s digital channel efforts. RACE stands for Reach – Act – Convert – Engage. We will expand this template in more detail throughout the year with various blog themes.
A version of this SDM model is MRACE, where measurements have been made to be an important part of its very essence. For measurement, we have developed our own structure that follows a logical chain and is guided by the processes that we and our clients carry out.
Assessment of the current situation
Most companies already have an analytics solution in place, so we almost never have to start from scratch. At this stage, we will see what is the scope of the use of analytics in the organization, if the data is reliable and if this trust is justified. A more technical audit will also be carried out at this stage, which will include dozens of inspection sites.
At this very important stage, we collect questions and answers, for example:
- What matters to the organization and its customers
- How does an organization define success and
- how to succeed
Different stakeholders may have different perspectives and measures of success – these are collected and described in the measurement plan. The measurement plan includes three important questions:
- business goals
- target indicators, and
The indicators must be agreed upon and known jointly before moving on to technical implementation. In general, it makes sense to start with the most important goal (such as leads and max cost per lead) and work backwards, calculating goal metrics based on the grouping of each step. Ideally, for example, you could calculate the average monetary value of a mailing list visitor for a company.
Each company and each site has its own entity that requires an analytics solution that feels like its own. To adjust the analyses, so-called best practice adjustments are applied at any facility, but the measurement plan largely determines which solutions will be achieved for the measurement.
Each set of websites is unique, and possible third party sites (eg booking engines, payment gateways) should also be considered at this stage if they operate as part of the same visiting experience. You can also return your own CRM data (such as conversion IDs) to the analytics environment for analysis.
The organization’s policy and legal environment regarding the processing of personal data (consent management) also play an important role in technical decisions. Visitors need to know what information is being collected about them, how long it will be kept, and which parties will have access to it.
It is also very important to take into account the limitations of analytical platforms when identifying campaign traffic, that is, when marking links with UTM parameters.
Monthly PDF and Excel reporting stopped a few years ago when Google released Google Data Studio for free data visualization. Google Data Studio (GDS) allows the user to view data in near real time from any data source, all you need is a browser.
GDS supports multiple data sources such as Google Ads, Google Analytics, Facebook, LinkedIn, etc. either directly or through paid aggregators. While there are predefined reporting terms for the GDS, it usually requires minor and sometimes major editing to make the required metrics visible to the user or to make the report more useful.
GDS also supports any data that can be tabulated. That is, if necessary, all strategic information can be found in one place.
Analysis and optimization
At this stage, our goal is to find the causes of the board trends. In answer to the question “why did our online store sales drop last month?”, it’s usually not enough to say “because Facebook didn’t perform well”. The truth needs to be drilled down, and that means segmenting everything, like at the campaign, audience, device, or landing page level.
To get to this level, it is necessary to reiterate the importance of the previous steps: the phrase “garbage in, garbage out” will always be true. If the incoming traffic is not tagged with the desired information, it cannot be assumed that you can distinguish the information based on it.
Once the causes of the trend are identified after the dig, we can start brainstorming next steps. This could mean removing an audience, changing your landing page, increasing your budget on some channels, or creating new content for a specific topic.
If the data is collected correctly and time and qualified human resources are allocated for analysis, digital marketing can be developed indefinitely. There is always something to check and improve if you can trust the integrity and interpretation of the data.
Although process assets seem complex (and that was just a title-level description), the goal of it all remains simple: increase sales and reduce costs. By doing things systematically, a company will build its marketing operations on solid, long-term numbers. When all the essentials are collected, interpreted correctly, and corrective action taken, the direction will only be up.
Part 2: Measuring and developing digital marketing is an ongoing process.
Once a logical chain foundation has been established, it can be ensured that as much information as possible is collected, what is known and what cannot be inferred, and that all decisions are actually based on data.
Contact us if you want to make sure your company’s marketing measures are in order. You can also learn more about the marketing dashboard.