How Marvellous Is Your Marketing?

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We're nearly a quarter of the way through 2013. How successful have your marketing efforts been so far?

It's time to dust down those excel spreadsheets, (I can hear you groaning) and see what hindsight, insight and foresight can be gleaned.  So, what should you do to start measuring?

1. Prioritise data collection against the most important metrics for your business

Your company might work to KPIs (Key Performance Indicators), which are generally linked to business objectives and nearly always focus on a mix of customer retention, customer acquisition and/or customer growth targets. Make sure you know what yours are and have the facts to speak to them. Alternatively, show how customer retention and acquisition link to social media engagement, your outbound/inbound strategy etc.

2. Who needs to know your metrics - deliver your findings in their language

The CFO wants to see all the numbers, the sales guys want to know how marketing has contributed to them making their numbers.  Everyone who needs a marketing metric has their own agenda.  Make sure to provide them with the evidence they need, to show marketing doing a great job.

3. Remember the intangibles

What impact has a project or campaign had on your customers, your brand and your colleagues? Maybe you can attribute new opportunities, targets or ideas to your current marketing efforts. Also look for new relationships formed with vendors, bloggers, event partners etc. This will give a more rounded picture than metrics alone.

If the thought of the above fills you with dread, then try to focus on the benefits to you and your marketing team, beyond securing next years budget.

1. Great results = Visibility + Credibility

Now that you've shown what can be achieved, what more could you do with additional resources/time/funds* (*insert your greatest marketing wishes here).

2. Identified success leads to opportunities

Now that you know what's working, can you replicate this across different products, geographies or industries?  Oh look, marketing just became business development.

3. Great results build trust 

Trust means being included in early level decision making that shapes your future business. Facts and figures take marketing from a 'nice to have' to a 'must have'.

Even if your results are less than worthy of a gold star, taking stock and reacting now, means resources can be rechanneled rather than squandered and your business will thank you for keeping them on track.  Promise.