How do you identify the right metrics for your annual B2B marketing programs?
Autumn is famous for football games, hot apple cider and…developing next year’s marketing programs.
There’s usually one major obstacle you’ll need to overcome in order to start developing a successful integrated marketing strategy.
Is it a new opportunity for cost savings? No, because ultimately that won’t help you move the needle significantly with your targets.
Is it finding the right creative “lightning bolt?” That’s a critical differentiator, but not the most important issue in this early stage of marketing strategy planning.
Is it properly defining the program parameters that will best align with the business’ future operating goals? That’s critical, but there’s another question you have to answer first.
Simply put, the first question you have to ask…and perhaps the biggest obstacle you have to overcome is “what’s not working?” What programs, tactics and strategies failed last year? Once you have the right data in hand, you can begin to develop conclusions about your mistakes and apply those lessons learned to your planning process.
Here’s a visual compass to help you identify the right business marketing metrics. Start by thinking about the broad array of your marketing activity across four dimensions:
- Earned: PR, Speeches, Events, Organic SEO, Blogger & Influencer Outreach
- Owned: Website, Microsites, Content Marketing
- Shared: Social Media Platforms, Digital Communities
- Paid: Advertising (online & print)
Each dimension has a different set of data, though, of course, there is overlap.
A parting thought. What’s the most important aspect of evaluating failure? Honesty. You are looking at this data so that you can make better decisions for next year. If you hold yourself accountable for the story behind the numbers, you’ll create even stronger marketing strategy objectives in the future.
What metrics do you use to judge your marketing program’s success?
Connect with Elizabeth:
LinkedIn: Elizabeth Sosnow