It seems that the biggest argument for decreasing marketing budgets is that the results are impossible to measure. Without hardcore proof of ROI or ROO, how do you justify spending the time, effort and money on a marketing campaign?
Perhaps it is not the lack of statistics that is the problem. Measurable results are possible to achieve if the components are right. If the components are vague, or lackadaisically put together, then even the best laid marketing plan cannot yield measurable numbers.
The moral here is that, to achieve statistically relevant results, first there must be a cohesive plan that consists of:
1) a SMART (Specific, Measurable, Achievable, Realistic, Timely) goal.
2) a defined target market.
3) a message that speaks to that target market
4) a call-to-action
5) a way to measure the follow-through of the target market on the call-to-action.
For some, the problem in creating a metric system to determine the results is in not knowing what or how to measure. It can be as simple as tally marks when people call, using analytic tools to determine hits to a landing page, counting the number of responses you receive back in the mail, or how many people come by your trade show booth to carry out your pre-sent request.
Remember also that a measurable marketing campaign where the results are less expected may mean that it wasn’t the right campaign, not that marketing is a waste of time, money and effort. After all, sometimes our messaging is not where it needs to be or the product being offered doesn’t meet the demands of the marketplace. Can you say “New Coke”?