Measurement: Still A Daunting Task For Marketers
Posted by Pramod S.N. at 10:57 AM
Marketers are often tasked with managing campaigns spanning several channels. Email marketing, social media, web-based marketing and now mobile marketing are all areas that fall within the marketer's realm. The various mediums and methods make measuring results, particularly in terms of an overall campaign, one of the major challenges facing the marketing industry. Shouldn't there be a one-size-fits-all solution?
According to a survey by eMarketer, email marketing is considered one of the simplest marketing mediums to measure, yet only 47 percent of industry professionals believe they can accurately measure the return on investment. Direct mail and online advertising fall in below email, while public relations, search engine optimization (SEO) and social media round out the bottom three in terms of how many marketers believe it's possible to accurately measure ROI. That said, there are a few methods marketers are currently utilizing to overcome the measurement challenge.
Just under half of respondents in the same survey rely on web analytics (such as Google Analytics) to monitor and track campaigns. Email marketing software analytics, which vary based on the service used, fall in just under web analytics. The bottom three in this survey include contact form responses (38 percent), social media monitoring (30 percent) and call tracking (27 percent). That means nearly a third of marketers are probably using about four different tracking methods, combining the various bits of data to try to come up with some sort of overall picture illustrating the success or failure of the company's current marketing plan.
But the story doesn't end there. The factors marketers base their ROI on vary just as dramatically as the factors they measure. Some look at an overall net increase in sales, while others look at the number of new customers or new leads. By any stretch, these are not the most specific measures to prove the ROI of a marketing campaign.
Clearly, there's a need for a better solution. Contributing to the disarray of consulting numerous measurement tools, attempting to make so many pieces of unrelated data mesh together for the sake of serving up a pretty picture for company executives can be a colossal waste of time. It's probably safe to assume that most CEOs would prefer their marketing execs spend the majority of their time conceptualizing and implementing the next great marketing campaign, not sitting around for hours trying to fit a square peg (the many pieces of measurement data) into a round hole (a neat and orderly tracking report).