Your SlideShare is downloading. ×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

10 Barriers to Success in Marketing Analytics & Measurement

3,089
views

Published on

Global multi-channel marketing is a reality today for most companies, big and small.  With all the experimentation across new channels and new media, marketers face their biggest challenges in …

Global multi-channel marketing is a reality today for most companies, big and small.  With all the experimentation across new channels and new media, marketers face their biggest challenges in understanding what’s really working and where they are getting the best return on marketing investments. 

The proliferation of measurement tools and service providers has created an environment where apples-to-apples comparisons of mediums and channels are difficult, frustrating and often just plain impossible.

The slides that follow highlight some of the barriers to success we see all the time.

Published in: Business

2 Comments
3 Likes
Statistics
Notes
  • Thank you for your feedback! I have updated the presentation with the appropriate tag. We will be sure to check out the other decks as well!
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Concise, effective and to the point... If you’re interested in the chance to win a 3M PocketProjector MP180, then I reckon this would have an excellent chance in the 3MPitch category. Simply tag your presentation with ‘3MPitch’ and you’ll be entered. Head over to our page for more details!
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
No Downloads
Views
Total Views
3,089
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
27
Comments
2
Likes
3
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Marketing Measurementand AnalyticsTop Ten Impedimentsto Success
    March 2010
  • 2. 10 Impediments: Overview
    11/4/2010
    2
    Confidential © SIGMA Marketing Group 2010
    I am Martha Bush, SVP of Strategy & Solutions
    At SIGMA Marketing Group.
    Global multi-channel marketing is a reality today for most companies, big and small.  With all the experimentation across new channels and new media, marketers face their biggest challenges in understanding what’s really working and where they are getting the best return on marketing investments. 
    The proliferation of measurement tools and service providers has created an environment where apples-to-apples comparisons of mediums and channels are difficult, frustrating and often just plain impossible.
    The slides that follow highlight some of the barriers to success we see all the time.
  • 3. Measuring things that don’t matter to top management can be a complete waste of time.
    11/4/2010
    3
    Confidential © SIGMA Marketing Group 2010
    Barrier 1: Measuring what doesn’t matter.
    Measurements should focus on the corporation’s profit drivers.
    Don’t use valuable marketing resources measuring things that do not impact the profitability of your organization.
    Stick to what matters.
  • 4. Information overload can be the biggest threat to inaction.
    11/4/2010
    4
    Confidential © SIGMA Marketing Group 2010
    Barrier 2: Too Much Information.
    Too many metrics that are non-critical can leave you not knowing which direction to go with your marketing efforts.
    Going back to Barrier #1 – focus on what truly matters. Measure things that will enable you to make sound marketing decisions. Streamline your efforts to provide more value in what you do measure.
    Optimize your metrics.
  • 5. When do I look at historical marketing data versus forecasting?
    11/4/2010
    5
    Confidential © SIGMA Marketing Group 2010
    Barrier 3: Hindsight vs. Foresight.
    Many measurement systems focus only on historical trends.
    We look both ways before crossing the street. The same should apply to marketing. Marketing measurement should include a balanced mix of historical data and forecasting. Measuring both can identify gaps that will help you achieve your targets.
    Look both ways.
  • 6. Are you getting the buy-in you need when defining key marketing metrics?
    11/4/2010
    6
    Confidential © SIGMA Marketing Group 2010
    Barrier 4: Inconsistent Definitions.
    Conflict between marketing decision makers can cause you to lose focus on important metrics.
    It is critical to have a consensus on what are defined as the individual marketing metrics. Every stakeholder should understand and accept what you are measuring and why it matters.
    Can’t we all just get along?
  • 7. How can you succeed if your executive team does not fully support your efforts?
    11/4/2010
    7
    Confidential © SIGMA Marketing Group 2010
    Barrier 5: No Executive Mandate.
    Executive support of marketing decisions is mission critical.
    Measurement systems and toolkits must have an executive champion. Without C-Level support you could be wasting time and money on purchasing a tool or solution that looks great on paper, but may end up never being fully leveraged. Often times – tools are purchased and then there is no mandate to make the change to use them.
    Because I Said So.
  • 8. Cross organizational silos need to hear consistent message from the executive champion of your efforts.
    11/4/2010
    8
    Confidential © SIGMA Marketing Group 2010
    Barrier 6: Misalignment.
    Break down the marketing silos in your organization to align efforts.
    With the help of C-Level support, cross-functional alignment can be achieved. Organizational silos must be in broad agreement on the value of individual marketing metrics and how they impact the overall success of the organization.
    Silos be gone.
  • 9. Don’t let your marketing investments and efforts go to waste – training is critical.
    11/4/2010
    9
    Confidential © SIGMA Marketing Group 2010
    Barrier 7: Lack of Training.
    In order to effectively measure, we must know how…
    The users of the metrics and analytical outputs will need to be fully trained on how to read the measurements.
    After being trained, they must know what actions to take as a result of the marketing metrics reveal. Otherwise, what’s the point?
    Use it or lose it.
  • 10. Having pre-defined marketing metrics does not mean Ad-Hoc measurements becomes irrelevant.
    11/4/2010
    10
    Confidential © SIGMA Marketing Group 2010
    Barrier 8: No Follow-up Support.
    Don’t let your marketing credibility suffer because you aren’t asking the right questions throughout the process.
    Questions arise. Ad-Hoc research and reporting can be missions critical to making marketing decisions.
    Without this type of measurement and support, you may not realize that your audience is evolving and changing. Ad-Hoc reporting and measurement can solve mission critical marketing problems.
    Questions Arise.
  • 11. Spread the knowledge across all functional groups – especially where lessons are learned and issues are resolved.
    11/4/2010
    11
    Confidential © SIGMA Marketing Group 2010
    Barrier 9: Lack of Knowledge Retention.
    If you don’t follow-through with documentation, you’ll find yourself hitting the same trouble spots over and over.
    When issues are resolved and questions answered that can impact your marketing measurement efforts, be sure to document what you learned and share with everyone who accesses the marketing metrics..
    Documentation can prevent missteps in the future.
    Document and Share.
  • 12. Things change... So must your metrics…
    11/4/2010
    12
    Confidential © SIGMA Marketing Group 2010
    Barrier 10: Inflexibility.
    Your audience and your customers will evolve. Your measurement metrics should evolve also.
    Requirements change. Targets change. Do you really want to keep measuring the same old thing, if your audience has evolved and what matters has changed?
    Keep your picture of your customers current with new insights and apply this to your measurement tools.
    Change is inevitable.
  • 13. In closing…
    11/4/2010
    13
    Confidential © SIGMA Marketing Group 2010
    Marketing measurement and analytics can’t be a “do it once and don’t look back” kind of process.
    Learningsare iterative and, when successful, initial analytics projects will stimulate a keen interest in learning more across the organization.
    The successful organization will make resources available to continue the research so findings are evergreen.
  • 14. Engaging your customersthrough analytics, strategy and technology
    11/4/2010
    14
    Confidential © SIGMA Marketing Group 2010
    Our Blog: FifthGearAnalytics.com
    Web: SigmaMarketing.com
    Twitter: @SIGMA_MktgGrp
    Call Toll Free: 888.277.9837
    Email: SIGMAinfo@sigmamarketing.com