Create the future.
As a member of the client advisory board for StackAdapt, Ohlmann Group recently engaged with agencies across the country on helping national and regional clients navigate the changing landscape of digital media. We will be sharing some of our insights on these topics in the coming weeks, continuing with the challenge of performance measurement.
As advertising campaigns become increasingly digital, the opportunities for capturing data have increased, but direct measurement of success remains a challenge. How should marketers measure campaign performance and, ultimately, business success?
Chief marketing officers have a tough job. In leading consumer brand companies, CMOs generally only last a couple of years in their positions on average. In fact, a Harvard Business Review study found that 80% of CEOs say they don’t trust or are unimpressed by their CMOs. One of the key challenges for marketing leadership is the difficulty of measuring the results of their advertising campaigns.
Candid conversations between agencies and clients about how campaigns need to be measured can help more effectively align the campaigns and achieve an organization’s goals. When clients have clear KPIs on their end, it’s easier for agencies to align their efforts to help move the needle for those metrics.
Ideally, a client’s internal data should be coordinated with campaign execution to understand who the most valuable customers are and then focus on them and others like them in ad distribution.
However, this is not always possible due to privacy issues, clients not having the resources to calculate the lifetime value of their customers, too much comfort with more traditional ways of measurement, or a variety of other reasons. Marketers can overcome this by spending more time with their sales data and analytics teams to better understand their ideal customers.
Marketers need to keep their minds open to communicating to customers where they are. Customers may be spending more time online outside of the organization’s top-tier outlets.
Marketers must also follow the data and work on interpreting what they are learning. While there is no shortage of data that can be passed between digital marketing systems, that data is not always translated in a way to help marketers understand what their advertising is doing.
Building measurement into campaigns from the onset, leveraging in-house data to better understand customers, and focusing on data insights will help marketers create campaigns that deliver for their organizations.
Looking for ways to enhance the output from your digital marketing? Connect with Ohlmann Group to talk data and results with our team.
