Aligning Your Measurement Plan to Brand Objectives
It’s not enough in the modern business world to have a website, HCP direct mail, and a basic ad campaign. In today’s marketing landscape, you must not only nurture professional and consumer relationships but also transform that engagement if you want to see brand growth. One way to improve the effectiveness and efficiency of your marketing strategy is to carefully coordinate and integrate a defined measurement plan with concrete brand objectives.
Defining Your Brand Objectives
Effectively using data science and marketing insights can help you increase sales and grow your market share. This technique, however, depends on identifying discernible, direct brand objectives. Most brands share a common, overarching objective: increasing financial gains by growing market share and revenue.
However, each brand also has unique marketing objectives as well as specific challenges that can prevent marketing campaigns from performing optimally. Your brand objectives should be key business issues that, when addressed using analytics, will help your brand’s campaigns deliver better results and quantifiable brand growth. These can be broad brand objectives like
- Increasing sales
- Building professional loyalty
- Improving patient adherence
- Building/improving brand recognition and reputation
- Acquiring new writers
- Improving channel efficiency or cost efficiency in particular channels
Once you’ve identified objectives like these, you can identify specific subordinate goals that further each aspiration.
Developing and Tailoring Your Measurement Plan
Multi-channel and omnichannel marketing allow you to customize the channel mix for each target market segment. This kind of tailored marketing will yield better campaign results. The difficulty, however, is in figuring out which tactics and channels to use for each audience and quantifying how well they are working once they are activated. This and other specific performance measurement allows you to gain key insights and metrics so you understand how well your campaigns are working.
Promotional impact can be measured at the tactic level by beginning with test and control or convenience samples. As your campaigns progress, close monitoring and data analysis allow you to refine your channel mix to most effectively generate a specific ROI. Integrating all tactics into a single dashboard provides for a comprehensive view into the performance of all promotional tactics and how they may be impacting one another, providing direction on what to stop, start, or continue. Using Tableau for data visualization, you can view insights online and apply a variety of filters instantaneously to identify strong performers or outliers. Using proven data science can make your marketing efforts more precise and effective, and narrowly tailoring this data to serve your intentional brand objectives can help you yield more fruitful results.
Strategize With a Planning Partner
Whether you’re developing a new marketing plan from the ground up or hoping to evaluate the effectiveness of your current plan and make improvements, partner with Measurement Mojo. We integrate all tactical reporting, reaching across both personal and non-personal tactics as an independent third party, and we standardize KPIs to ensure rigorous measurement for a single brand or a portfolio of brands.
Measurement Mojo offers a highly actionable campaign ROI report at both the campaign and target segment levels as well as robust ongoing measurement and optimization. Our in-depth analysis helps you define your the brand objectives and provide key insights to refine your existing strategies and optimize future campaign performance. Contact us today to find out how we can help you make the most of your marketing.