Marketing, Measurements, Metrics, Oh My!

Marketing, measurements and metrics remind me of the Wizard of Oz when Dorothy and her fellow companions are walking through the forest saying “Lions and tiger and bears, Oh my!” The impression the viewer received was that at any moment a lion, tiger or bear could jump out and gobble Dorothy and her companions up.

Credit: Equineink.com

In attracting attention to your products or services, your budget can quickly be gobbled up by ineffective marketing strategies and tactics. This is why it is so critical to invest the time to construct the following:

  • Core positioning statement based upon market research
  • Specific demographics and psychographics
  • Executive marketing summary
  • Written marketing action plan that is goal driven
  • Specific measurements and metrics to be validate effectiveness of all actions

A recent report from Omniture revealed some interesting statistics about the results of measuring marketing ROI – return on investment. The majority of those surveyed believe marketing ROI is important, but  only 1/3 of those have a process in place to do that. Also social media is being used by almost 70% of those surveyed and well over half have no way to measure its impact.

Online marketing is far easier to measure than other types because with the correct tools you can see the traffic to specific pages and if there is an auto-responder actually capture additional:

  • Critical contact information
  • Confirm demographics
  • Discover new psychographics

There are many free tools to keep the lions and tigers and bears from gobbling up your hard earned profits. Remember all marketing dollars come from your profits.  Some of these tools are free and are available at sites such as:

Of course there are many more because each day another tool appears to be tracking another online statistic. By returning to your marketing action plan you can determine if you need other measurements or metrics for calculating your marketing ROI. Remember, as the old saying goes:

“If you cannot measure it, you cannot manage it.”

So to be the red jacket in a sea of gray suits, it is absolutely necessary to determine what marketing actions you will take, how will you measure those actions and what metrics will be measured. Otherwise you may be joining Dorothy and her friends fearful of all those lions and tigers and bears, oh, my!

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