“What get measured, gets done.” This maxim, attributed to Peter Drucker, famous management consultant, educator, and author, repeatedly holds true in achieving success in business. In our fourth installment of this five-part operational excellence series, we will look at the measurement of your campaign: Do you have the right success metrics and realistic goals in place? Here are a few tips to ensure you’re set up for campaign success.
Create measurement benchmarks
These baseline goals should be segmented by channel and audience just like your campaigns—the important thing is to maintain a specific benchmark for each segment and its success over time. For example, measure email click-through and open rates in hourly or daily increments and build a benchmark curve to identify when you should expect click-throughs and opens to drop off. This will allow you to understand if your campaign may outperform over a longer period of time.
Measure as often as possible
Measurement is often a very manual process depending on the channel, and aggregating measurement data across all of your channels can be tedious. However, it’s important to frequently measure the performance of a campaign so that you can leverage what’s working and optimize what isn’t resonating.
Measure more than the channel silos
Try to automate as much as possible so you can have a broader overview of your campaign. By having a broader overview of campaign performance, you can identify the tactics, design, and/or messages your audience is responding to best.
Be prepared to double down on success.
If a particular channel is successful while another has been mediocre when measured against your benchmarks, ensure you are able to quickly redeploy your funds quickly. Further boost the success of an over-performing channel to maximize the ROI of your campaign as a whole.
As you begin to build out this level of sophistication into your marketing campaign measurement, you may find that there is a breakdown because most marketing departments struggle to compare success to their plan. Learn more in our upcoming webinar to discover how Anaplan helps marketers deliver an effective and efficient operational process.
Next in this five-part marketing operational excellence series: Optimization. Learn more about how Anaplan’s marketing performance management solutions can help.