Instead you need to take meaningful measurements at regular intervals. You need to decide:
- When during the manufacturing process should you take samples to test?
- How often will you pull a sample from the line and test it?
- How will you effectively and efficiently test the sample to get useful results that will inform production and highlight any issues?
Just like you would check the quality of a product's components and subassemblies as well as the product as a whole, so too should you measure different elements of your marketing.
But marketing measurement doesn't have to be complex, especially if you know your way around an Excel spreadsheet.
Here's how to do it.
When do I test?
Secondly, you need to be measuring the success of your marketing as a whole in terms of top-line sales. These are your outcomes.
As I've said before, your aim is to support prospects to become loyal customers. Therefore, you need to measure across the entire buying process.
- a range of metrics at each stage
- one key metric with which to measure conversion from the current stage to the next
HOW OFTEN DO I TEST?
If you measure too often you'll end up with far too much data be useful. However you want to measure frequently enough so that an issue doesn't go unnoticed for too long and cause major issues downstream.
For example, if your customers typically take 3 months to decide whether to buy from you then there is no point taking measures every day. The fluctuating numbers will be misleading, In this case, taking a measurement once a fortnight or once a month will provide a much clearer picture of whether your numbers are increasing or decreasing overall.
The question to ask is: how soon after a campaign can you judge its success? To answer this question, there are two numbers you need to know about your business:
- Elapsed time
- Accrued time
For my business, this can sometimes be a year or more. People need to be in the right position to want marketing consultancy and sometimes they meet me when the timing isn't right. For many other businesses, it isn't so long. And I've worked with clients that have longer "elapsed time" timescales than me.
- Speaking to you in person or on the phone
- Watching your videos or webinars
- Reading your blog posts, articles and case studies
- Speaking to others about the decision, such as influencers or gatekeepers
If this sounds interesting, please drop me a line. I'd love to see if I can help.
This blog is part of the "How to Engineer Your Marketing" series and will form part of my soon-to-be-published ebook of the same name. If you'd like to receive a copy when it's ready, please sign up to my newsletter.