With the technologies available to us today, why would any reasonable business owner not want to know the return on investment for their marketing efforts? Even if you are a big proponent and believer in the value of branding – why not ALSO try to measure and capture metrics like “intent to buy” or “intent to engage?”
Measuring the impact of marketing campaigns threatens many advertising mediums and agencies, but empowers business owners to make better decisions about their ad spending and marketing dollars.
Many advanced metrics systems can be configured to track any advertising outcome – from responses, to intent, to engagement, and even branding. From traditional broadcast to outdoor to Internet – you can measure and track it all. If you’re a small to medium sized business it is critical that you do. Put a system in place and use your metrics to make better marketing decisions.
Advertising Age conducted a survey and found that only 60% of marketers were using metrics to measure marketing’s impact on sales. We suspect that this number is far lower for the owners and operators of smaller, local businesses.
If you are part of the 40%+ not measuring your marketing as it relates to sales, you are behind the competition.
And, don’t say you aren’t using metrics because you believe in “branding.” The article addresses branding (or “consumer attitudes”), and we agree that there is some value in brand awareness. But face it – advertising should create intent, engage the audience and most importantly SELL.
Without selling your product or service first, you may not be around long enough to appreciate the benefits of your brand!
About The Author: Blue Corona is a data-driven online marketing company with offices in Gaithersburg, MD and Charlotte, N.C.
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