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Make Way for Marketing Accountability
Everyone is talking about it – accountability in advertising.
A recent article in Advertising Age, “Marketers, Get Serious About Accountability,” gets straight to the point – in today’s demanding business environment, companies must know the impact of their marketing investments.
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's Editorial Staff is determined to help you increase your leads and sales, optimize your marketing costs, and differentiate your brand by passing on our tribal knowledge. The team vigilantly stays on top of the latest in digital marketing, bringing you the top insights with expert commentary. Want to see something on our blog you haven't seen yet? Shoot us an email and our marketing team will get to work.
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