This blog post isn’t about HOW to track marketing & communications results (although we’ve shared a few links at the bottom of this post that you might find helpful on that front). It’s about WHY.
Because I’ve always been a data geek, one of the aspects of marketing I’ve always found most rewarding is being able to see the fruits of my labor. It’s always so fun and exciting to see if website traffic, phone inquiries, e-mail inquiries, or some other desired customer or prospect action (aka conversions) have increased as the result of some new or revamped marketing activity.
Being accountable for marketing results in a number of corporate marketing roles, it always made great sense to me to put various results-tracking mechanisms in place prior to launching a new marketing campaign — even if some of those were less technical/automated in the 1990’s and early 2000’s than they are now. For example, asking sales reps or customer service reps who would likely receive inquiries as a result of a new marketing campaign or tactic to ask prospective customers “how did you learn about us?”
But, you’d be surprised at the number of organizations that don’t make & take the time to:
- figure out, prior to launching marketing activities, how they will track results
- review and analyze the results of various marketing tactics regularly
- know what key performance indicators (KPIs) they should be looking at
- let other non-marketing team members of their organization know that a marketing activity is launching or has launched, such as customer service teams or sales teams that might need to respond to e-mails or phone inquiries that might be generated by a campaign
- keep appropriate internal & external parties informed of campaign results
We regularly review and report on the results of various client marketing tactics and share insight on what KPIs make the most sense for the client in-question to track given the various marketing activities they employ. We recommend that every organization create and share a master marketing KPI report (one that is stored in a central, easily-accessed, version-controlled report — think Google sheet or report housed in a project management system) that everyone who has influence and impact on results can view whenever they want and need to. That keeps everyone well-informed and understanding and feeling that their contributions matter.
Hey, why shouldn’t everyone who plays a role in a product’s, service’s, or solution’s success get to experience one of the greatest joys of marketing? And, that’s knowing that their hard work, innovativeness, flexibility, creativity, etc. made a difference when it comes to generating results. Plus, having access to results makes everyone who plays a role related to a product’s, service’s or solution’s success aware when sales or engagement results are less than favorable, and hopefully, will prompt them to come up with ideas to improve results.
Who Should Have Access To Marketing KPIs Reports?
- The organization’s owner/founder
- The organization’s Chief Executive Officer (CEO) or Executive Director (ED)
- The organization’s Chief Financial Officer (CFO)
- Other organization Chiefs and Senior Leadership Team Members, including the Chief Operating Officer (COO) and Chief Information/Technology Officer (CIO)
- All marketing & communications staff/team members, including the organization’s Chief Marketing Officer (CMO), SVPs and Directors of Marketing & Communications
- All sales & customer service staff/team members
- Any Product Management, Product Development, and Project Management staff involved with the product, service, or solution being marketed.
- Any external organizations that have been engaged for marketing & communication or market research services, such as digital marketing agencies, advertising agencies, website developers & designers, PR firms, and market research suppliers
What Marketing Results Should I Be Tracking And How Can I Track Them?
As promised above, shared below are past blog posts where we’ve addressed some of the marketing metrics/KPIs you should track and how to track them, but each organization’s results tracking needs are different, based on what digital and traditional marketing tactics and tools they employ, so please reach out if you’d like to discuss your organization’s specific needs with us.