For most marketing service providers the number one focus area for the customer relationship is delivering improved campaign results utilizing a cross media, multi-channel marketing approach. One area taking a back seat to the overall campaign strategies is the tracking and measurement of campaign ROI. The reason for this is simple. It isn’t easy to do and with the growing list of marketing media being utilized the challenge increases.
Marketers are under intense pressure to generate improved results for all marketing activities and to deliver an acceptable ROI for each activity. Without the ability to measure at a detailed level they don’t have the ability to fully evaluate which activities are meeting their objectives and why! Two dynamics that are on the increase that make this area more important than years past are:
- The average number of cross media touches per campaign
- The number of personal channels for each consumer
Number of Cross Media Touches
According to an October 2010 InfoTrends in-depth study entitled Capturing the Cross Media Direct Marketing Opportunity, the study reported a shift toward not only using more electronic and online marketing, but also more channels. The survey results indicated that marketers are using an average of 2.7 media channels per campaign. Another revealing data point was that 53.1% of marketers are using 3-5 marketing touches per campaign! This data clearly illustrates how quickly marketers are evolving their tactics to leverage the improved results of more personal and relevant communication across multiple touches.
Number of Personal Channels for Each Consumer
The other area on the increase is the area of personal channels. Recent studies have confirmed that the average consumer can be reached on an average of 7.2 channels in today’s world, most typically:
- A landline phone
- A mobile phone (this counts as two channels when you consider voice and text)
- A Skype account
- A Facebook account
- A Twitter account
- A personal and business e-mail
- Membership in online forums with private messaging facilities (e.g., LinkedIn)
- A home address for traditional mail
In addition, you have to add all of the mass media in use and remember that the overall goal is to optimize and maximize each touch for improved visit and conversion results. Study data indicates that 55% of marketers today don’t have a “formal” tracking and measurement program in place. The number one reason is it is difficult to accomplish and they lack the resources to get it done.
Marketing Service Providers have an opportunity to help the marketer in this critical area. To do so, you have to make it a part of your initial discussion on marketing objectives, typical conversion levels and ROI for all media in use. Typical questions such as, “How do you capture the visit and conversion levels for each media touch in use for your campaigns” and “How do you identify non-responders for each media touch” are two examples of information you will need to gather.
Critical Tracking and Measurement Dynamics
As you work with the marketer, there are a number of areas that they will need to track and measure on a daily basis. Let’s look at some of the most important:
- Prospects that respond to a campaign (typical visit and conversion rate)
- Report “real-time” tracking and measurement for all media used in the campaign
- Leads Generated by rep/region
- Activity by responder
- Message Reporting – email, SMS, QR Codes detail about all deliveries
- ROI – calculate Marketing ROI per campaign
- Any click on a redirect link to other sites and documents
- Click – through to online purchase sites
- Compare contrast: email response rates vs. direct mail and QR Codes
- Blind captures/Refer a friend/Social Media responses (how many organic touches led to new opportunities and contact information)
Providing the marketer with this information in a fully automated marketing dashboard empowers them to really understand what their actual results are and where campaigns or media are not connecting with their prospects. Having this information is the first step to making course corrections in their campaign approach and media usage. It provides the foundation for long-term success of all programs and allows your company to be pivotal to that success.
CMO’s 2011 Priorities
This month the CMO Council shared research on the top priorities for marketing executives for 2011. One of the top three was” build stronger customer intelligence” and that requires online marketing intelligence gathering as well as tracking and measurement. The other key finding is that lead generation and qualification is one of key areas of investment for CMO’s in 2011.
Marketers realize that this is one of the top priorities for 2011 in addition to driving more revenue into their organization through cross media, multi-channel marketing. If a Marketing Service Provider wants to create more value and connect with marketing clients, they will need to make tracking and measurement one of their key offerings!