Did you know anything can be measured today? Google’s millions of servers, as well as the millions of servers from hundreds of paid services, track every click and activity your users perform online.
The data is swimming around everywhere, Just tap into it! If you’re thirsty, just drink!
Unfortunate too many marketers still act as though every drop of water is non-potable ocean water
In a recent HubSpot study, only 15% of marketers reported putting ROI as their first priority, and only 53% are measuring ROI.
That’s sad. If you’re a marketer in the 21st Century and you’re not measuring and tracking your marketing, maybe you should change fields.
Claude Hopkins: Measuring Marketing since 1923
One of the earliest marketing gurus (before they even used the term “marketing guru), Claude Hopkins, pioneered the measurement of marketing back in the 1910s and 1920s. In his now famous book Scientific Advertising (available for free online), he described how he used Keyed Advertising to track, measure and improve his marketing.
“We compare one way with many others, backward and forward, and record the results. When one method invariably proves best, that method becomes a fixed principle.”
That sounds a lot like A/B testing doesn’t it? Yes, and he wrote about this in 1923 – 7 decades before the internet.
But fast forward to today and we’re still trying to shake off the influence of Madison Avenue image advertising.
Why Non-Football Fans Watch the Super Bowl
Let’s look at the Super Bowl. Why do so many non-football fans watch it? Because of the advertising. During the U.S.’s biggest sporting event, which takes place every February, Twitter and Facebook are filled with comments about each million dollar ad aired. And everyone becomes an advertising critic.
But according to Gerardo Dada in his recent presentation on content marketing at Innotech Austin, only 29% of all Super Bowl ads could be remembered after 12 months, and only 13.28% could associate the correct brand with an ad.
For example, can you recall the product in this Super Bowl ad? Yeah, neither could I.
These statistics are dumb-founding. With a 30-second spot averaging $4 million, and a 60 –second spot a jaw-dropping $8 billion, you’d think advertisers would want to drive some ROI.
We’ve been sold a bill of goods by the big image advertisers. We’re still trying to fight of the vestiges of “Mad Men” thinking where measurement doesn’t count.
Today there’s No Excuse Not To Measure Your Marketing
- Your online conversion rate. In other words, how many website visitors turn into leads
- Which pieces of content on your website drive the most leads and sales
- What marketing channels are driving the most leads and sales. This is great for measuring the effectiveness of your social media strategy and guest-posting strategy
- The type of visitors who become the best sales and leads. In other words, their geographic location, what device they’re using, their online behavior
- What kinds of content on your website drives purchasing behavior
Check out this great article about measurement by Andy Crestodina.
And then there’s the exciting field of attribution analysis. Today’s sales journey is very complex, and it’s hard to tell what contributed to the sale. But fortunately Google’s joint study with Econsultancy on attribution can shed some light on the subject.
Should your company become a measurement-oriented company? The old mantra says, “what you can’t measure you can’t improve.” Fortunately, tracking, testing and measuring your marketing is available to any marketer no matter what your budget is.