To measure is to know
As an advertiser, how do you evaluate the execution of your marketing communication strategy? In what follows, we explain how in five clear steps.
Define (the hierarchy of) KPIs for your objectives.
A clear marketing objective linked to a business goal is the starting point of any marketing strategy. That objective is then translated into a media objective. For each objective, you can formulate a KPI and SMART1 target. Ideally, those KPIs should be linked. This important step is combined with other thinking such as your consumer insights and strategic big idea, helping you prepare your marketing plan. Below is a diagram showing the important effectiveness KPIs in a hierarchy of effects.
1 Specific, Measurable, Acceptable, Realistic and Time-bound
Measuring your KPIs during the execution of your marketing and media plan.
At this stage, your creative comes to life and your touchpoint plan is executed. Measurement of all your KPIs is planned and executed, specifically:
- Zero measurement of the most important KPIs before your campaign starts.
- Real-time measurement of your exposure KPIs.
- Conversion tracking (website traffic, app downloads, form submissions…) to perform attribution on your activation KPI. Choose the right attribution model to understand the contribution of the different touchpoints in the customer journey.
- A/B or experimental tests to determine the effectiveness of creative, messages or other campaign elements.
Monitoring real-time analytics.
With real-time data, you can adjust on the spot and optimise touchpoint strategies. Increasingly, this is being done by Artificial Intelligence.
Evaluation after completing all of your marketing actions.
In this phase, you use all data and tools to check the impact of your marketing touchpoints. The main tools for this are:
- Campaign impact & brand lift tests: research the impact of your campaign on brand perception and awareness.
- Brand research.
- Marketing Mix Modelling (MMM).
This should address both the short-term and long-term.
Optimise and repeat.
Finally, you can apply the learnings from the previous phase to the next campaign. Create a culture of constant improvement and iteration to stay relevant in a dynamic marketing landscape.