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Marketing

Successful Performance Planning and Analytics to Reach Marketing Goals

28 Jan , 2013  

As marketers we’re responsible for a brand’s reputation, brand equity and growth. We build campaigns with a call to action in mind and facilitate shared experiences or promote ideas. Checklist & PlanningHowever, a large number of marketers tend to focus more on performance results and analysis post campaign instead of during the strategic planning and executing phases. Confidence in measurement platforms that give actionable insight on a daily if not momentary basis, across the following areas should be paramount:

  • Testing creative and media channels
  • Redirecting budgeted dollars on campaigns/media with top performance results
  • Analyzing daily sales, registrations, downloads, and specific data usage
  • Review of daily conversions and behavioral pathways to conversions
  • Targeting of audience segments
  • Messaging and touch frequency

Unfortunately, many brand marketers are not well versed in measuring ROI in the planning stages of a campaign.  In fact, many online marketers choose to mainly use on “soft metrics” for their campaign performance analysis which are defined as secondary data points such as open rates, new/returning visits and time spent on a particular website. These data points generally offer little directional insight to improve audience engagement or understand the real performance of a campaign. Avoid relying on wrong data— make performance planning the first priority. In the planning stages it’s important to clearly define specific, quantifiable objectives. Once objectives are defined, utilize KPI’s to evaluate marketing effectiveness.

  • Make your campaign focused on a specific (quantitative) revenue goal.
  • Focus on acquiring new customers or even new prospects to increase a database size.
  • Focus specifically on retaining an existing customer base

For example, when focusing on a particular revenue goal, focus only on direct revenue related measures:

  • Visitor to conversion ratio: The rate at which visitors achieve the goals you have set for them.
  • Checkout conversion rate: The rate of purchase intent versus successful checkouts.
  • Cart abandonment rate: The rate in which customers do not complete a transaction and leave the site.
  • Average order value: The average amount of purchases per checkout.
  • Loyalty and Frequency: The ratio of new vs. visiting customers and their frequency of visiting a site.

Always remember measurement and analysis of performance indicators is only valuable if it contributes to your objectives.  

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