We recently discussed the multi-channel marketing gap and how marketers can start moving toward a more integrated multi-channel mix. The next step is how, when and what to measure.
It’s not so easy. Only 20% of retailers can quantify the impact of multi-channel marketing (Aberdeen Group). A lot of us are deluged by tracking stats but have trouble deciphering the gist from the mist, or making a cogent case to management about what it all means.
Here are some ways to close the multi-channel measurement gap.
- Measure across channels. There are many tools to measure multi-channel marketing. They may not be perfect and they are certainly evolving, but measuring is better than not measuring. A journey of a thousand metrics begins with a single tracking result.
- Track in real-time. Most channels allow real-time tracking, which allows you to modify the marketing mix during a campaign and also helps to prioritize successful channels and campaigns.
- Prioritize. Don’t wait to measure, and don’t wait to review your metrics. Part of good measurement is figuring out what data you need, what are the vital metrics. Most social media channels and most email systems provide a ton of metrics, so it’s important to focus. Make sure you’re seeing the forest, not getting blurry-eyed looking at trees.
- Measure frequently. Your core measurement metrics should be easy to access and benchmark, so that you can track results continually to revise your current campaign or build the next one. Especially as you experiment with new channels or platforms or revise your offers or the marketing mix, you want to know at-a-glance what is working and what is not.
- Measure bottom line and comparables. The most important metrics are tangible results (like incremental sales or something quantifiable that adds to the bottom line). Measure things that matter. (See “Email Metrics that Matter” article.)
- Standardize metrics, so that you can compare channels more quickly and effectively, even if their marketing goals are different (i.e. visibility v. incremental sales). Keep your eye on the measurement prize, and even if you can’t completely compare apples and oranges, you can modify the marketing (or fruit) mix.
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