Marketing ROI Analytics / Measurements
Picture this scenario. You’ve created your marketing and communications strategy, tactics and operating budget. You have your traditional, digital and social strategies ready to go. You’ve developed your message maps. You execute. Now what? Have you ensured that every single campaign is traceable? Does each of your campaigns have a call-to-action? And, what is that call-to-action?
Have you been in a budget meeting and been asked the question, “Why should we allocate X$ towards Marketing expense when we don’t know how effective our marketing plans are? How much money did we make from all the e-mail blasts for our Annual Meeting? How much revenue are our YouTube videos generating? Where are we actual vs. budget?” And more questions…”how much did we budget, how much did we actually spend in direct and indirect costs, and what is our return on investment?” It’s difficult to ask for more promotional dollars when you can’t justify what you’ve already spent. The solution to this dilemma is the Marketing ROI Scorecard. SMB Value Partners can work with your internal Marketing team, or we can be your outsourced Marketing partner, ensuring your marketing plans and tactics are traceable and measureable. At the end of the campaign (the Annual Meeting is over and you’ve paid all the invoices), the ROI measurements are calculated. You generate a Marketing ROI scorecard for your Annual Meeting. You know the effectiveness of each campaign. |
Now, imagine gaining insights into the effectiveness of your Marketing campaigns for your Annual Meeting while they are being implemented – real time. Many campaigns are long-term projects. We can help you track and measure along the way, determining real-time which campaigns are/aren’t effective, allowing you to redeploy financial and human resources away from those initiatives that aren’t effective towards those campaigns that are effective.
The facts speak for themselves. You are able to justify the expenses you have incurred, but more importantly, you are now able to make recommendations to your business partners/stakeholders as to why the marketing strategy/tactics need to change. You are making the recommendations based on data and information, facts-based results. How do you do it? You need the analytical tools and capabilities. You need a strong partnership with IT and Finance. This partnership can make measuring the effectiveness of your Marketing expense a reality. Your Marketing ROI Scorecard proves the direct impact Marketing has on revenue generation. For many, the Marketing function is viewed as a service unit, an operating expense on the company balance sheet. With the Marketing ROI Scorecard, you now have the ability to prove that Marketing is a driver of business growth. |