Accord Marketing

Brilliantly joined-up marketing. Our job is simple. To help you: Understand your customers. Create the right messages to make them act. Make decisions based on research and data. Achieve the maximum return from your budget.

London, United Kingdom
Founded: 1988
Staff: 70
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Dayinsure
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Planning ahead: the importance of measurement frameworks

by Mark Lewsey

June 25, 2021

You win some, you lose some, that’s life.

But how do we know what winning and losing actually looks like? If we’re on the right track or falling off? If we’re taking one step forward or two steps back?

The answer, we believe, is an effective measurement framework. A tool and an exercise that might get overlooked as ‘non-essential’ when planning a campaign, only to be considered later down the line. However, in reality, without one (a good one) from the offset, it’s a lot harder to know the success and failure of our efforts and how best to improve for the future. If you’re not planning how to measure campaign success, then what are you doing?

As we arrive at a bit of a crossroads in the post-lockdown stratosphere, some brands will be pivoting from freezing to flexing, as they resume activity and increase share of voice. Never has it been more important to have accountability of expenditure, which is where a measurement framework comes in. Adopting and sharing a clear definition of success gives us the opportunity to identify priorities, action specific insights and influence decision-making.

Travel, for example, is at a turning point. As the international travel ban lifts and demand increases, the industry is slowly getting back on its feet. But returning to the media landscape after so much time away is going to look and feel very different, as consumers re-engage at the various stages along their path to purchase. After a turbulent 2020, we’ve had buckets of time to dream, so we may need less assistance there, but our planning and consideration stages will undoubtedly hold a lot more weight than before - now that we have to factor in Covid-19 protocols. By outlining a measurement framework for your marketing campaign, you can assign a level of focus and investment to each stage and then review, revise, optimise and improve performance to reflect changing habits and behaviours.

Our thinking is very much inspired by that of Avinash Kaushik, an entrepreneur, author and all-round analytics guru. We have applied our interpretation of his framework model below:

So where to start? Well first things first, why are you even doing a campaign? Start with identifying your business objective(s) so you know what your success criteria is, e.g. increase profit margin.

Step two is to break down this objective into a set of clear and specific goals. These can typically relate to steps in the purchase journey, i.e. the route to gaining more interest, more loyalty, more sales. These specific objectives might look like: awareness, consideration and action.

The third step goes a little deeper and asks what are the marketing objectives to help you achieve your business objectives? Under awareness, you want to maximise brand reach (both offline and online factors need to be considered here), for consideration you want to maximise engagement and generate leads, and for action, the aim is to quite simply, sell more products.

Next you need to understand what these goals look like on paper. What are your KPIs? This is the fun bit where you get to play around with data and build hyper-relevant, custom reports dedicated to your campaign. It’s important to tailor each KPI to each objective here, giving thought to when and why to measure, i.e., there’s no point judging revenue on day one of an awareness campaign.

Once your KPIs are determined, you can then define your parameters for success by setting distinct targets for each one. These are numerical values, which allow you to benchmark your campaign against your own performance, a peer set or the wider industry using our good friend, data. This step is a no-brainer. Targets are there so that you know whether the 2 million hits your recent YouTube campaign received was good or bad. By adding measures for context, it will tell you that a £100k revenue isn’t great if you spend £95k to get there. If data is not available, then learn on the job - set new targets and adjust accordingly.

Depending on your campaign and the objective in hand, it might not always be easy to assign a numerical value to a goal. Building brand traction and driving awareness is trickier to measure, since how do you place numbers on a feeling or an affinity to someone/something? But there is scope here; social listening, share of search, surveys and scouting the competition can all help you with assigning KPIs and targets to these areas.

With these in place, you can assign data segments to each target for analysis. These might be groups of people, sources, onsite behaviours or outcomes, which are deemed valuable to understand why you succeeded or failed. For example, when analysing a brand reach goal, direct traffic will be most significant here. Analysing these segments will help you understand if you’re moving closer to your business goal or if you need to make changes to get there.

And the outcome? Well now you have better knowledge of why your campaign is in place and what your business if focusing on. You have a better vision of what success and failure looks like and a new-found, prioritised focus on relevant data analysis to help you continuously grow and improve.

Let’s get building!

Tags

measurement
campaign
campaign activation
Strategy
strategy and marketing campaign